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IO Scout will explain you what is Amazon Black Friday in 2020. Notice: This year Black Friday will take place in November 27
Heralded as one of the peak shopping days of the year, online and in high street retail, Black Friday is one for every Amazon seller to capitalize on.
But where did it come from?
Black Friday dates all the way back to the 1950s. A phrase used by the police to portray the busy gatherings and traffic flow on the Friday directly after the Thanksgiving celebrations. Black Friday is between 23-29 November, and is the Friday after Thanksgiving.
In the year, we now see Black Friday as a consumers’ paradise, and a day on which there are an amazing amount of deals to be had – especially in electronics and appliance merchandise!
Cyber Monday came about after Black Friday. This occurrence was back in 2005, when it was apparent that retailers trading online experienced a huge surge in sales directly after Black Friday. And so Cyber Monday was born!
Cyber Monday is typically on one of the last days in November, but can vary due to when Thanksgiving falls. This year Cyber Monday will take place in November 30. The sales figures on Cyber Monday historically have been outstanding, and actually tend to be approximately 25% more than Black Friday!
Most countries globally recognize the tradition of Black Friday (around 50 to 60% of countries), however some of them which don’t are as follows:
It does not come as a surprise to note that the aforementioned countries are against consumerism, and therefore do not participate on the “free-for-all” consumerist attitude of Black Friday and Cyber Monday.
Amazon is the leading advocate for the “manifest destiny” of fourth quarter entrepreneurship, and has fourteen committed Amazon markets globally, including:
And every one of these nations celebrate Black Friday as a shopping public holiday.
Being prevalent since 2005, Cyber Monday has experienced sales growth as follows:
Black Friday is a super time to make an early start on your kids’ Christmas toy wish list! Save disappointment by stocking up on those trending toys on Black Friday.
DVDs sell really well on Black Friday and Cyber Monday, and make great Christmas gifts, too.
Xbox Live, Playstation, Nintendo – all the big players and more.
If you’re in the market for a new pair of sports trainers, Black Friday and Cyber Monday could be the time! There are often heavily discounted prices for active wear during this time.
Voice assistant appliances and devices are right up there on the hottest items for sale on Black Friday and Cyber Monday like Alexa, and the Apple and Google alternatives.
The biggest discounts for jewellery are not often seen during Black Friday and Cyber Monday. The best time for this is directly after Valentine’s Day!
Last-minute travel deals are usually prevalent on Cyber Monday, rather than Black Friday. So hold on a couple of days, and you may be in for a treat!
Being successful on Black Friday and Cyber Monday as an Amazon merchant requires some heavy planning. And, as we’ve mentioned, these special dates are a great opportunity to rid yourself of stock that’s been gathering dust on the FBA warehouse shelves.
Have you considered selling products on Amazon from liquidated Amazon stock? Re-selling, as it were, as these are products which have been returned to Amazon for one reason or another, and now are given the chance at another life in the form of being sold as part of a pallet of liquidized Amazon stock.
If you didn’t know about this method of sourcing products to sell on Amazon before, it may be worth your while considering it as a viable way of making even more money on Amazon’s Marketplace, and really striking whilst shoppers are in serious buying mode!
You would be wise to navigate carefully when negotiating with a liquidation distributor , as it’s very easy to spend a lot of capital on a lot of stock, only to find out its not what you were expecting, and therefore losing a lot of money in the process. Some top tips to maximize your profits are as follows:
Starting down the road of buying liquidated stock means you take these steps:
This is a process that does require a lot of time, but if time is on your side, and you are organized, you can simply follow the process each time you take delivery of new liquidation stock. It’ll be a well- oiled machine in no time!
Check if the goods are:
You may want to think about setting up your own Amazon Store.
Amazon Stores were launched back in 2017, and Amazon allows you to create your own brand by way of an Amazon store. By doing this, you can increase your sales because your brand is getting much more traction and visibility on the platform. Shoppers who are in “buying mode” during Black Friday, and indeed, Cyber Monday, will be glad of an immersive, enjoyable experience such as an Amazon store during this time.
An Amazon store is a visually rich platform where you can showcase your products, and create a lovely shopping experience for your customers. Due to the nature of Amazon stores, by having one you automatically enhance your consumers’ shopping pleasure, and drive more sales, as it makes it even easier to buy from you, and therefore, your brand.
This is done in a few ways:
The primary factor that drives Amazon entrepreneurs to set up their own Amazon Store is to encourage more sales – sales with their existing customers, and sales with their brand-new customers. If you make your Amazon Store a really enticing place to be, and a pleasant shopping experience, more sales will come. It’s a very accessible method to shop, and one which shoppers enjoy – so why not go ahead and create that very platform for them to enjoy – and buy from you?
Your Amazon Store is not restricted to desktops, either. The mobile shopping experience is second to none, so you can capture your prospective shoppers’ interest whether they are browsing your Amazon Store on their own computer, or mobile, or out and about.
An item page on an Amazon Store which converts, and converts astoundingly well, looks like this:
There are some certain products and categories which sell especially well on Amazon’s Marketplace.
Amazon Sellers who craft their own jewellery, for example. These unique and bespoke items sell well as they are generally one-off items, which aren’t easy to replicate, and also have low competition from other sellers. Often you’ll find that these items can demand higher prices as there’s not often something similar on the market already = more profit!
Items which fall into a niche category are often successful, as it’s extremely unlikely that Amazon itself would start investing in these categories. Therefore, you probably wouldn’t have competition from Amazon with these niche items.
Refurbished or used goods have a lot of interaction on Amazon by shoppers. Shoppers who are driven by price, and not so much on delivery times.
The key message really when it comes to buying liquidation stock to re-sell on Amazon’s Marketplace is to start slow, and build from the ground up. Until you have confidence with your liquidation stock supplier, invest small and often, without risking too much capital up front.
Get this process right, and you really could see your Amazon selling business reaching new heights – as your consumers get more and more deal-friendly. You can expect to be able to offer your customers really competitive prices for products that you sell on Amazon, when you invest correctly into Amazon liquidation stock.
In preparation for Black Friday and Cyber Monday, you can start writing your blogs as a countdown or lead up to the big event. Once a week is enough to get your message out there, and ensure your loyal existing customers know what you are promoting during this event!
You can also have a Black Friday/Cyber Monday specific homepage for your website, highlighting the promotions you plan to offer, perhaps with a countdown timer.
Black Friday, and now Cyber Monday, is an occasion not to be missed for savvy Amazon sellers. Yes, it is a purely consumerist event, but one to capitalize on.
For some online retailers, Black Friday is a wonderful time to kick-start those Christmas sales, and get shoppers in the buying mode. It can also be used as an opportunity to finally sell off off those discontinued lines that have been hanging around on the shelves of the Amazon Fulfillment Centres!