How to deal with the biggest shopping season, Black Friday and Cyber ​​Monday (BFCM)

by 300cbt Team

A cold wind blows. A cold wind that smells of money... The shopping season has arrived again this year. Black Friday, Cyber ​​Monday, and Single's Day (Singles' Day: China) have now become familiar terms in Korea. November can be said to be the beginning of the shopping season.

Shoppers in Korea will be thinking about what they can get this shopping season, and overseas sellers will be preparing how to target this season. Our Sambaek City clients have already secured inventory to sell during the shopping season last month and are preparing for the season. If you are a global seller who is entering the shopping season for the first time this year, please pay attention to this post. Shopping season is a unique opportunity to dramatically increase sales for your online business.

Black Friday History

There is a theory that the "black" in Black Friday comes from a term used to indicate surplus in accounting books, and this is considered an established theory. Black Friday is the day after Thanksgiving, which is the fourth Thursday in November. As you may have seen through the media, this day marks the start of extraordinary discount events at large shopping malls and the beginning of the shopping season, with large crowds lining up on the streets to purchase discounted products starting from Thanksgiving night. The Monday following Black Friday is Cyber ​​Monday, when online companies start sales. It has now become a keyword representing the sales season, and in the marketing industry, it is sometimes abbreviated as BFCM (Black Friday Cyber ​​Monday). BFCM sales season isn't just for big retailers. This is a time when the shopping atmosphere is at its peak, and it is an opportunity for sellers selling overseas to increase their sales by 2-3 times or up to 10 times. Additionally, customer data sold during the shopping season can be used next year as well.

BFCM for everyone

The BFCM shopping season is a time when sales surge regardless of sales category, and last year, sales at shopping malls using Shopify exceeded $1 million every minute. This is double the figure of $550,000 in 2016, which is a figure that generated sales of $1 billion (approximately KRW 11 trillion) in 4 days.

blackfriday selling tips
▲ Shopify BFCM sales in 2017

blackfriday selling tips
▲ Shopify, which posted sales of over $1 million per minute during the BFCM period, has not yet seen the light in Korea.

What should I prepare?

The number one priority is to prepare inventory of popular products for the shopping season. Next, in preparation for the logistics rush, we need to establish a season-specific logistics system to ensure delivery without delay. You will also need a sales promotion. A typical shopping season promotion is a limited time sale on popular products as bait products. One way could be to create a discount bundle pack for the sale season that bundles popular products.
blackfriday selling tips
▲ A sales strategy for the shopping season is essential.

Now you only have one month to prepare

BFCM is now one month away. If you are not yet ready for the shopping season, be sure to think about securing inventory and delivery strategies. We hope you have a fruitful(?) shopping season in 2018 and welcome a warm year-end.

cbtlabs 300cbt

Leave a comment

* Comments will be displayed after review to prevent spam.