For retailers, Black Friday is one of the most important dates in the commercial calendar. For small businesses, it’s an even greater opportunity to boost sales, attract a new calibre of customers and build brand awareness on a significant scale. In fact, in 2023, 63% of small businesses reported that their highest ever revenue days occurred during Black Friday or Cyber Monday.
Despite the opportunity, however, Black Friday is becoming increasingly difficult to navigate as a small business. High reward comes high risk and the opportunity to lose customers amongst a sea of competitors is a very real concern for retailers who aren’t prepared.
At Rhino, we understand the chaos that can come from Black Friday preparation, that’s why we’ve prepared the ultimate guide for small businesses preparing to manage the Black Friday carnage. Whether you’re kitting out a physical store or ecommerce office; managing a team of 50 or a team of 1, Rhino has the perfect solution to help your Black Friday run smoothly.
Preparing Your Business for Black Friday:
- Forecast your potential demand.
- Audit your current setup.
- Prepare your team (no matter how small).
- Furnish your store or office.
- Invest in quality storage solutions.
Forecast Demand:
Understanding what your customers want is the first step to orchestrating a successful Black Friday promotion. If you’ve traded throughout previous years, it’s vital to review your historical sales records in order to identify which products performed well, and which fell short. If your business is more recently established, it’s worth reviewing your current sales trends, as well as identifying what your competitors are doing, in order to identify what trends are likely to be popular throughout the Black Friday period.
Once you’ve established the inventory that you need to prioritise, it’s important to ensure you’re ordering your stock or materials with enough time to factor in potential shipping delays and unforeseen circumstances. Whilst it’s tempting to bulk order the products that are selling fast, don’t overlook your slower-moving items. Even your least popular items can be bundled into gift sets or included in seasonal discounts to increase their appeal – allowing even your regular customers to find something new to try within your brand.
Once your inventory is planned and accounted for, begin considering where it’s all going to go. Piles of stock cluttering your workspace is less than ideal when you’re experiencing a rush of orders – that’s where Rhino comes in. With a huge range of shelving solutions available, Rhino is guaranteed to be able to supply you with a suitable racking solution for your business.
Audit Your Current Set Up:
Before the chaos begins, it’s worth assessing your current set up and auditing what is, and what isn’t, working for you. Factor in your current inventory levels, and office infrastructure, understanding exactly what you have to hand, and what you might need to invest in. Ultimately, a thorough understanding of your business operations is the foundation for a smooth, successful sales period.
As well as assessing the physical structure of your business, it’s worth considering the presence of technology within your retail brand. While physical stock levels are valuable to track, it becomes easy for discrepancies to occur as units begin to fly off the shelves; especially if you’re working in a large team. If you’re not already using a digital stock management system, now is the time to implement one. Real time inventory tracking helps prevent overselling, improves order accuracy and gives you greater visibility during peak periods – a lifesaver, to help you and your team stay on track throughout Black Friday.
Finally, it’s crucial to assess if your storage infrastructure is suitable for purpose. If your shelves are overloading and stock is at risk of being damaged, it might be time for an upgrade. At Rhino, our heavy-duty shelving units offer a weight capacity of 200kg per shelf – that’s 1000kg over our 5 tier units. No matter what stock you’re preparing to sell this Black Friday season, Rhino’s heavy-duty solutions can handle the load.
Prepare Your Team (No Matter How Small)
No matter if you’re managing a team of 50, 100, or even just yourself – it’s essential that everyone is kept up to speed with your Black Friday strategy. Clearly defining responsibilities, and delegating tasks within your team is crucial to ensure everyone understands the expectations, and nobody becomes overwhelmed by their work volume. If you’re working alone, map out your workflow in advance in order to avoid bottlenecks, and decision fatigue during your busiest periods.
The simplest way to prevent a team meltdown when the orders start to pile up, is effective stock organisation. Ensuring your inventory is laid up in a clear, accessible manner eradicates any potential confusion, helping your packing process stay as simple and accessible as possible. A consistent layout is also the first step to helping you create a smooth operational flow, easily transitioning from picking, to packing to shipping. This not only helps maintain productivity but also reduces errors and delays during peak trading periods.
Throughout the period surrounding Black Friday, the rate of delivery delays increases exponentially, with 67% of ecommerce shoppers experiencing delivery issues over a span of 6 months. While delivery errors are largely out of your businesses’ control, minimising their impact through good customer service and efficient order shipments is essential to prevent them from having an adverse effect on your customers’ satisfaction.
Kit Out Your Office and Store:
If your small business is preparing a physical store for a Black Friday event, it’s crucial that you’re creating a presentable and appealing visual environment for your customers. In a recent study, over half of surveyed consumers reported leaving a store due to a poor, visual experience; highlighting just how critical aesthetic presentation is when creating your Black Friday display.
At Rhino, we understand that it’s important to strike the right balance between visual appeal, and strong, durable storage. Our range of wire shelving units offers a refined solution, combining sleek design with practical functionality – with reinforced, rubber feet for extra stability in high traffic areas.
Likewise, if you’re shipping orders from a warehouse or office space, uniform racking systems can offer an efficient way to organise inventory; streamlining operations and helping your team quickly locate the stock they need. With versatile configurations, these units provide secure storage that can mould to any application, in any space.
With careful management and preparation, Black Friday could be the most powerful opportunity of the year for your small business. Increased conversions, elevated brand visibility and increased footfall – Black Friday could provide the business traffic that you need to expand your small business into a key player within your industry.
So, while you handle the important business development, let Rhino handle your infrastructure. With 1000kg load weights per unit, and an easy, boltless design which makes them perfect for rapidly expanding businesses – our units are designed to support your business through it’s busiest period of the year.
If you’re ready to level up your Black Friday strategy, visit our website to find the perfect solution for your space.