{"id":7834,"date":"2023-11-08T14:08:00","date_gmt":"2023-11-08T14:08:00","guid":{"rendered":"https:\/\/www.sage.com\/en-ie\/blog\/?p=7834"},"modified":"2023-11-10T13:01:19","modified_gmt":"2023-11-10T13:01:19","slug":"black-friday-how-retailers-can-prepare","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-ie\/blog\/black-friday-how-retailers-can-prepare\/","title":{"rendered":"Black Friday: How your business can prepare for the biggest one yet"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-ie\/blog\/category\/growth-customers\/\" class=\"entry-header__link\">Growth &amp; Customers<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tBlack Friday: How your business can prepare for the biggest one yet\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2023-11-08T14:08:00+00:00\">8 November, 2023<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"Black Friday: How your business can prepare for the biggest one yet\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-ie\/blog\/black-friday-how-retailers-can-prepare\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n<\/header>\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-ie\/blog\/author\/staceymcintosh\/\">\n\t\t\t\t<img decoding=\"async\" alt=\"\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2018\/11\/Stacey-McIntosh-350-1.jpg\" class=\"entry-author__image\" height=\"40\" width=\"40\" fetchpriority=\"high\" \/>\t\t\t\t<span class=\"entry-author__name\">Stacey McIntosh<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<p class=\"\">Remember when Black Friday was just a day? Well, that\u2019s all changed now.<\/p>\n\n\n\n<p class=\"\">Many retailers will be preparing early Black Friday deals, giving the entire month of November the Black Friday treatment.<\/p>\n\n\n\n<p class=\"\">Since some shoppers might not pile into stores like years past due to the option to easily shop online, you\u2019ll need to get creative with how to connect keen sales shoppers with discounted merchandise.<\/p>\n\n\n\n<p class=\"\">For example, you may want to follow suit by taking an e-commerce approach and selling your products online (if you&#8217;re not already).<\/p>\n\n\n\n<p class=\"\">What are the core areas of consideration for your retail business if you\u2019re looking to win big during this busy selling season?<\/p>\n\n\n\n<p class=\"\">Here\u2019s where you can leverage technology to create bandwidth and make Black Friday frictionless and profitable.<\/p>\n\n\n\n<p class=\"\">Here&#8217;s what we cover in this article:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"#black-anchor-link\">Black Friday shopper behaviour for stock management<\/a><\/li>\n\n\n\n<li><a href=\"#accepting-anchor-link\">Accepting payments for Black Friday sales<\/a><\/li>\n\n\n\n<li><a href=\"#managing-anchor-link\">Managing payments security during increased traffic<\/a><\/li>\n\n\n\n<li><a href=\"#hiring-anchor-link\">Hiring Black Friday staff<\/a><\/li>\n\n\n\n<li><a href=\"#final-anchor-link\">Final thoughts on preparing for Black Friday<\/a><\/li>\n<\/ul>\n\n\n<div class=\"single-cta\">\n\t<a\n\t\tclass=\"button button--primary gate-0b030cda-dfb7-482e-965b-86bff3d74d6d\"\n\t\trole=\"button\"\n\t\tdata-button-location=\"content_area\"\n\t\thref=\"#gate-0b030cda-dfb7-482e-965b-86bff3d74d6d\"\n\t>Download your free Black Friday and Cyber Monday checklist and get your business ready for the busy sales season<\/a>\n<\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"black-anchor-link\">Black Friday shopper behaviour for stock management<\/h2>\n\n\n\n<p class=\"\">When dealing with busy selling periods, you need to stock up for elevated sales.<\/p>\n\n\n\n<p class=\"\">Look at your data from last year to <a href=\"https:\/\/www.sage.com\/en-ie\/sage-business-cloud\/accounting\/features\/stock-management\/\">gauge how much inventory you need<\/a> to account for sales that will occur either in-store on online.<\/p>\n\n\n\n<p class=\"\">Investing in that kind of insight is important for creating the capacity needed to manage high demand during the peak trading season.<\/p>\n\n\n\n<p class=\"\">You can ensure you have enough inventory for the influx in demand during Black Friday and into the Christmas shopping season.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"accepting-anchor-link\">Accepting payments for Black Friday sales<\/h2>\n\n\n\n<p class=\"\">Generational preferences and how comfortable shoppers are with payment technology will also factor greatly into Black Friday.<\/p>\n\n\n\n<p class=\"\">Today\u2019s customer journeys are increasingly varied, and can be immediate or extremely complex, especially for younger customers.<\/p>\n\n\n\n<p class=\"\">They can range from impulse purchases on shopping apps to lengthier, highly considered purchases involving multiple channels for product research and price comparison \u2013 even during Black Friday sales.<\/p>\n\n\n\n<p class=\"\">You need to integrate the payment process into your omnichannel customer offering for a frictionless Black Friday experience.<\/p>\n\n\n\n<p class=\"\">To do so, you should consider the customer\u2019s expectations at each point in their journey and ensure your payment technology can accommodate any scenario of sale regardless of channel or preferred payment method.<\/p>\n\n\n\n<p class=\"\">Retailers of any size will stand out by offering simplicity, convenience and durable, well-defined value in their approach to payments.<\/p>\n\n\n\n<p class=\"\">For online retailers, a diverse offering of payment methods is critical to customer experience.<\/p>\n\n\n\n<p class=\"\">We know from a research over the years that consumers generally can be up to four times more likely to complete a purchase if they see a wide variety of payment types presented to them at checkout.<\/p>\n\n\n\n<p class=\"\">Demand for mobile payments and digital wallets is growing, so it\u2019s worth exploring these as part of your payment methods.<\/p>\n\n\n<div class=\"single-cta\">\n\t<a\n\t\tclass=\"button button--primary gate-0b030cda-dfb7-482e-965b-86bff3d74d6d\"\n\t\trole=\"button\"\n\t\tdata-button-location=\"content_area\"\n\t\thref=\"#gate-0b030cda-dfb7-482e-965b-86bff3d74d6d\"\n\t>Download your free Black Friday and Cyber Monday checklist and get your business ready for the busy sales season<\/a>\n<\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"managing-anchor-link\">Managing payments security during increased traffic<\/h2>\n\n\n\n<p class=\"\">You should consider the security of your customers\u2019 financial and personal data, and factor in protection against fraud.<\/p>\n\n\n\n<p class=\"\">One example of technology that supports this is tokenisation, which allows safe storage of your unique card details providing access to the original payment information regardless of the contact point.<\/p>\n\n\n\n<p class=\"\">Shoppers have grown more willing to use new payment technology but they\u2019re still concerned about the safety of their personal information.<\/p>\n\n\n\n<p class=\"\">Research shows 62% are generally welcoming towards added authentication measures for online payment security as mandated by <a href=\"https:\/\/ec.europa.eu\/info\/law\/payment-services-psd-2-directive-eu-2015-2366_en\">PSD2<\/a>.<\/p>\n\n\n\n<p class=\"\">New authentication technologies will revalidate repeat purchases or return shoppers to the website and make their experience even more frictionless.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"hiring-anchor-link\">Hiring Black Friday staff<\/h2>\n\n\n\n<p class=\"\">Even with everything else in place, you\u2019ll still need to ensure you have enough staff to deal with stock management and, if selling online, prepare items for delivery.<\/p>\n\n\n\n<p class=\"\">Insights from a business management solution can tell you how many additional staff you\u2019ll need to hire. It can also help you with hiring and onboarding and managing schedules.<\/p>\n\n\n\n<p class=\"\">Adding more staff \u2013 temporary or full time \u2013 means more <a href=\"https:\/\/www.sage.com\/en-ie\/sage-business-cloud\/payroll\/\">payroll admin<\/a> of assigning employee types and calculating accurate pay and benefits for each.<\/p>\n\n\n\n<p class=\"\">Doing this accurately will be more challenging during the busy Black Friday season, especially if it\u2019s done manually.<\/p>\n\n\n\n<p class=\"\">Payroll integration technology with time tracking and attendance functionality can make peak season staffing easier.<\/p>\n\n\n\n<p class=\"\">Connecting your time and sales data is important for reconciliation purposes, eliminating data errors, and reducing payroll fraud.<\/p>\n\n\n\n<p class=\"\">Keeping track of this data can also help with planning for other peak trading seasons.<\/p>\n\n\n\n<p class=\"\">A business management solution equipped with automation can make this easy and error-free for any size staff.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"final-anchor-link\">Final thoughts on preparing for Black Friday<\/h2>\n\n\n\n<p class=\"\">Black Friday is a fast-paced selling season. <\/p>\n\n\n\n<p class=\"\">Even more so now than ever, if your customer doesn\u2019t get the experience they expect, you might lose a future sales opportunity.<\/p>\n\n\n\n<p class=\"\">Utilise new technology for business management to <a href=\"https:\/\/www.sage.com\/en-ie\/blog\/cash-flow-crisis-avoid\/\">stay on top of cash flow<\/a> to purchase enough inventory, manage stock, manage staff coverage and scheduling, and keep things running smoothly at the online checkout.<\/p>\n\n\n\n<p class=\"\"><em>Editor&#8217;s note: This article was first published in October 2021 and has been updated for relevance.<\/em><\/p>\n\n\n\n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Black Friday and Cyber Monday checklist <\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get your free checklist for tips to prepare your business for the busy sales season, covering the promotion of your products, staying on top of stock levels, and more.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-0b030cda-dfb7-482e-965b-86bff3d74d6d\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Download your free checklist<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2022\/04\/GettyImages-1282456779-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2022\/04\/GettyImages-1282456779-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n\n\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to the Sage Advice newsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Join 1.5 million subscribers and get the best business admin strategies and tactics, as well as actionable advice to help your company thrive, in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-53abbdcc-410c-4c8c-bf97-ca5c6982eebd\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe now<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"999\" height=\"666\" src=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2021\/04\/z.5E3A0481_All-Uses.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2021\/04\/z.5E3A0481_All-Uses.jpg 999w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Black Friday is one of the year&#8217;s biggest sales periods. Learn how to get your payments, technology and stock management processes ready.<\/p>\n","protected":false},"author":346,"featured_media":8457,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"footnotes":""},"categories":[162],"tags":[331,309],"business_type":[5,4],"lilypad":[],"context":[],"industry":[191,228],"persona":[211,232],"imagine_tag":[],"coauthors":[394],"class_list":["post-7834","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-growth-customers","tag-ecommerce","tag-retail","business_type-small-business","business_type-medium-sized-business","industry-ecommerce","industry-retail"],"sage_meta":{"region":"en-ie","author_name":"Stacey McIntosh","featured_image":"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2022\/04\/GettyImages-1341533850.jpg","imagine_tags":[]},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice Ireland","distributor_original_site_url":"https:\/\/www.sage.com\/en-ie\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/posts\/7834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/users\/346"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/comments?post=7834"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/posts\/7834\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/media\/8457"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/media?parent=7834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/categories?post=7834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/tags?post=7834"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/business_type?post=7834"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/lilypad?post=7834"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/context?post=7834"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/industry?post=7834"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/persona?post=7834"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/imagine_tag?post=7834"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/coauthors?post=7834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}