Have an Online Store?
Here’s some tips just for you
Since way back in 2015, Black Friday has been taking South Africa by storm. Unlike in other markets, Black Friday actually started in the online retail space with big names like Takealot.com really driving it in the early days. While the brick-and-mortar stores have come onboard in a big way over recent years, we are still seeing huge growth in online sales over this period. Payfast, for example, processed a 370% increase in sales in 2017 compared to a normal payday weekend.
If you are in online retail the time to start planning and marketing is now. Take a look at our general Black Friday post for some general planning tips or read on for tips specific to online retailing to help you make the most out of this busy period.
1. Follow up with offers for Cyber Monday
Last year, payment systems like PayFast saw the largest transaction value for Black Friday at R284,625 and the average basket size was R1,250, which was slightly higher than 2021, which recorded an average of R1,208 per basket. In comparison, on Cyber Monday 2022 the average basket size was R962, which means to say that Cyber Monday should definitely not to be overlooked.
The once clear distinction between Black Friday—traditionally linked to offline retailers and long queues of shoppers at odd hours of the morning—and the online equivalent, Cyber Monday, no longer exists.
If you’re an online store with physical outlets, consider linking your in-store Black Friday offers with one-day-only upsells for Cyber Monday. If you’re an online-only store, consider packaging your Black Friday deal with a coupon code that can only be redeemed on Cyber Monday.
2. Ensure that your online store is mobile ready
Shoppers today use a variety of devices to search for and purchase goods.
If this isn’t reason enough to ensure your online store is mobile-ready at all times, consider that shoppers are most likely to use their mobile devices for Black Friday purchases. If your online store isn’t accessible on mobile devices, it is likely that potential shoppers will secure their Black Friday deals from a competing store that is.
If you’re not sure whether your online store is mobile-friendly, test your website using a free online tool, such as Test My Site (Google), where you can view your website at different screen resolutions.
3. Activate all your payment options
Merchants will need to offer multiple payment options to address abandoned carts and ensure a seamless customer experience. Fortunately, if your online store accepts payments through PayFast, you can activate additional payment methods such as Instant EFT, mobicred, Bitcoin and SCode. By activating all your payment options, you provide your shoppers with a range of payment alternatives in cases where banks experience problems due to the sheer volume of online transactions during Black Friday.
With all payment options activated for Black Friday, there would be no reason for shoppers to abandon their carts because of technical errors originating at their banks. If you don’t have a PayFast account, you can simply register online now.
4. Secure your website
With Google Chrome’s new algorithms in July of this year, Google is penalising all websites that do not have SSL certificates installed. If unsure, your website will display a “Not Secure” notice informing shoppers not to enter sensitive information as it could be intercepted. If you’re not sure how to go about securing your website, chat with your web designer or hosting company about having an SSL certificate installed.
When you consider that the number of users doubled from Black Friday 2016 to Black Friday 2017, Black Friday 2018 is set to be epic. At Lulalend, we’ll do our bit to offer you and your buyer access to all the finance you need to take full advantage of the Black Friday/Cyber Monday weekend in 2018. All you have to do is follow these five tips, stock up, and ensure that your website can handle the extra traffic.
5. Get more Info regarding Black Friday
Don’t forget to read our full tips for making the most of Black Friday here if you haven’t already.
We know that the run-up to Christmas is a time of huge opportunity for retailers and we are committed to giving them the access to finance they need to take advantage of this.
6. Black Friday planning
When it comes to year end trade, we all know the proof is in the planning. With stock delays, fuel price increases, manufacturing backlogs and competition, the earlier you order up, the earlier you can prepare for Black Friday and the festive season. With Lula’s fast flexible funding, you can apply online in minutes and get access to funding in just 24 hours to get your stock ordered. Visit www.prod.lula.co.za for more details.