Black Friday and Cyber Monday will be here faster than you know it. In case you’re living under a rock (or in case you just need a little refresher), Black Friday is the Friday after Thanksgiving and Cyber Monday is the Monday after Thanksgiving. These two days—and this long weekend in general—typically mark the beginning of holiday shopping in the U.S., and are also two of the biggest shopping days of the year.
During this time, customers are expecting massive sales and are primed to shop—both for gifts for themselves (#SelfLove) and for their friends and families. They’re prepared to spend big money, so long as it comes with big savings. Since customers are literally primed to stock up and save during this time, Black Friday and Cyber Monday are especially good times to offer bulk discounts.
Read on to learn more about why you should implement bulk discounting for Black Friday and Cyber Monday, and why you should finalize your strategy, like, now.
What’s Bulk Discounting?
Bulk discounting is a discounting strategy that incentivizes customers to buy more. With bulk discounting, the more a customer buys, the bigger their savings. For example, let’s say you’re a Shopify merchant selling office supplies. In your case, bulk discounting would be like offering a 10% discount if a customer buys 5 pens, offering a 20% discount if they buy 10, and offering a 30% discount if they buy 15.
Bulk Discounting for Black Friday & Cyber Monday
Bulk discounting is a savvy discount strategy to implement for this mega-sale weekend because, as we mentioned, customers are already primed to buy a lot. This means that they’re extra primed to buy in bulk. In the end, this results in higher AOV, increased revenue, and increased profit for you and your Shopify store, while amazing Black Friday savings for your customers. It’s basically a match made in Cyber 5 heaven.
But Why Prepare for it Now?
Yes, we get that it’s July and that November 24th is, like, four months away. “We have so much time to prepare for the holiday season!” you might be thinking. But newsflash: four months ago it was March. (Yeah, time flies.) Black Friday and Cyber Monday will be here before you know it. And since they’re probably going to be your most profitable days of the year, you’re going to want to make sure you’re putting your best foot forward.
And your best foot is more than just having the right deal (*cough, cough* bulk discounting) in place—you need to promote this deal, and that promotion requires a lot of energy, thought, and time. This means website updates, emails on emails, Meta and Google ads, and so much more. Even more, this marketing sprint often starts as early as October, which means Black Friday and Cyber Monday are really only 3 months away. But to get this whole marketing campaign started, though, you do need to have your deal locked and loaded first.
How to Prepare Your Bulk Discount Strategy
Step 1: Decide Which Items to Discount
Obviously, you’re not going to apply bulk discounts to your whole Shopify store. This means you need to strategically decide which items to discount and promote for Black Friday and Cyber Monday. This could be items that are ideal for gifting, items that are winter seasonal, items with a backlog of inventory that you want to move off the shelf, items that customers typically “run through” fast (and are consequently more likely to be purchased in bulk), and more. You’ll probably want to consult with your ops team to decide the best strategy—from both a business and financial standpoint—on this.
Step 2: Decide on Your Specific Discounts
Once you’ve strategically decided which items to discount, you need to decide on the exact bulk discount pricing per item. Again, it’s probably best to consult with ops—and finance, for that matter—on what makes the most sense for your specific Shopify store.
Step 3: Ensure Website Functionality
Step 4: Prepare Your Marketing Engine
Once you’ve ensured your store’s bulk discounting capabilities, you can give the green light to your marketing team so they can start preparing a creative campaign and digital marketing strategy. They now not only have ample time to prepare said strategy, but they have ample to time to build out all the creative assets needed to promote your winning bulk discount strategy come October and November
Implementing Bulk Discounting on your Shopify Store
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