The best day was yesterday, the second best is today: How to make the most of Black Week

The campaigns are set, and consumers are starting to build their wish lists for this year’s Black Week. Which products can go on promotion is already locked due to the 30-day price legislation, but there is still time to make smart adjustments.

Black Week is no longer about selling the most, but about selling right, protecting margins and also preparing for next year's growth.

For many retailers, the reflex is to “turn up the pressure” when the campaign doesn’t deliver. The simple recipe is advertising and even bigger discounts. But experience shows that it doesn’t always pay off. The real profit lies in identifying what to sell, and also what not to sell.

Since customers are already writing their wish lists of what to buy, it's important to be quick on the ball. As they say, the best day to start was yesterday, the next best is to start today.

By data-driven exploration of which products are actually trending, on Google Shopping, Prisjakt, TikTok or other sources, you can quickly get an overview of which items you are missing for this year's Black Week. If you work quickly and through existing channels, you may be able to close your worst gaps and be an alternative supplier to the wish list.

In addition to focusing on driving traffic to the “right” products in the range that are of course priced correctly through set BW campaigns, you need to work on the receipt value by having higher dynamically priced upsell products. Having the right products and actively working for more order lines and higher receipt value and margin is nothing new, but often falls by the wayside when the focus is on optimizing paid media from the other side.

As I have written in previous years, Black Week is the run-up to the end of a long year, where you should have planned and laid a good foundation since the previous period. Although the time until Black Friday may seem short, there is still plenty of time to analyze and improve details with insight from last year, to land on even better margins.