(recorded October 28, 2021) - 41 minutes
Black Friday is four weeks away. What strategies do you have planned for your jewelry store? Will you promote a sale or discounts? Regardless what you are planning, this episode of the RethinkYour.com Podcast is for you. Let’s get started.
Black Friday is 4 weeks from today. If you haven't planned your Black Friday promotions yet, then you should start that now.
What types of promotions will you be doing?
Discounting is an option
New items for gifting
Gifting pages on with bundled products
Typically, we know that jewelers do not participate too much in Black Friday promotions. For jewelers, it's better to launch sales and promotions earlier instead of waiting until Black Friday.
If selling strong already without sales, then just ramp up what you are doing
Fulfillment is an issue. Promote the earlier sales to avoid those issues
Sales strategies
Percentage sales work for items under $150
Dollar sales work for items over $150
Site wide discounts work all the time and it shows the discounted price on all page.
Discount codes require people to look at their cart
You could also do a site wide discount and have a discount code
Must still be profitable while still discounting
Product bundles allow you to discount groups of items without discounting individual items
You save shipping and fulfillment labor when you bundle
People will gladly spend more to get a discount
Create a vip sale. Tag customers at different levels and let them see different prices.
The vip levels can be from previous purchases. Like a loyalty program.
You can also password protect your site for a limited time so only the vip group is allowed to buy during that time.