Nexgen Marketing posted on November 24, 2022

The biggest sale season of the year will take place in the last two months of 2022, and they will be kicked off by Black Friday. On November 25, your business will be visited by a large number of customers. As a result, your sales volume will skyrocket over the Black Friday weekend. But the question is whether you are prepared for a busy Black Friday season. This blog will go over how retailers can use planograms to maximize their Black Friday sales. Planogram software is a real gift to retailers. Simply put, a planogram is a visual representation of each shelf that is used to optimize the space used by each product while also increasing sales. Retail managers have numerous options for organizing the products they sell. They can sort them by size, type, and popularity, among other criteria. Planograms can be extremely useful when you have multiple retailers. When a shopper enters one of your stores, they will immediately recognize a product and a specific brand, providing them with a better experience. Retailers can either hire an in-house department or outsource their programming requirements to companies offering planogram services. Outsourcing to expert third parties appears to be more efficient in the long run, particularly when thousands of individual store planograms must be created and maintained. Leading companies are already seeing the benefits of using technology to generate planograms quickly, freeing up employees to work on higher-level analytical tasks with greater strategic value.

How can retailers use planograms to boost Black Friday sales?
  • Offer discounts shoppers can't resist: With Black Friday increasingly moving online, offering exclusive in-store discounts is one of the best ways to drive traffic to your physical storefront. However, when planning your discount, you must be cautious as well as creative. Slashing the price to half isn’t the only way to attract customers. Incentivizing referral-based discounts with paying customers is an excellent way to increase market share and Black Friday sales. Create a multi-level referral system in which customers are given different discounts based on the number of people they refer to your business. Alternatively, give away a less popular product for free. It all comes down to adding value to your customer's purchases. Even with the discount, the chances of profit are higher because there are a large number of people willing to spend happily on Black Friday sales.
  • Analyze previous years Black Friday sales: You don't want to make the same mistakes as previous year when it comes to Black Friday sales in 2022. So take a look back; the previous year's sales data contains a lot of useful information. If you have consolidated reports, thoroughly examine them to determine your best-selling products and gain a better understanding of your customer's needs. Determine which products are more popular with customers and which should be bundled. Examine what types of promotional content drive traffic. Assess customer behavior and learn about their purchasing habits.
  • Upsell and cross sell: Upselling persuades customers to purchase an upgraded or more expensive version of the product they select. Cross-selling, on the other hand, encourages customers to buy products related to those already in their shopping cart. Create combinations of three to four complementary products that work well together and offer the entire package to customers at a discount on the total. Combo promotions work especially well on big sales days like Black Friday and Cyber Monday, when people are actively looking for package deals at a lower price. Offering a leather treatment kit with a leather jacket is an example of upselling, as is recommending noise cancelling earbuds to a customer looking for standard earbuds.
  • Overview of Nexgen Planogram Services

    Nexgen offers store-specific planograms for clients that optimize sales and achieve category objectives. We create customized planograms for your business to ensure that these are better aligned with your goals and merchandising strategies. Our expertise in planogram automation helps us build planograms faster, better and consistently. Whether it is creating a planogram from scratch, or a typical reset, we have the knowledge, tools, and experience to get the job done for you.

                                                                 Get Your Free Trial Now!


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