If you’re Nigerian, there’s a huge chance that you don’t understand the hype around Black Fridays.
I mean, why is it called Black Friday?
Why are Jumia, Amazon, and co disturbing me with ads about Black Friday?
Why do people even run Black Friday sales?
What does Bumpa mean when they say they’re doing Bumpa Black Friday deals for business owners?
As the nice person that I am, I’ll answer all these questions in this article.
The history of why it’s called Black Friday is pretty long and boring. But I can tell you what it now represents.
Black Friday normally is the Friday before thanksgiving.
Thanksgiving is a special Christmas holiday that we don't really observe in Nigeria. Just take it as the day they give thanks before the Christmas period and they eat turkey. Great. Let’s move on,
Black Friday has now evolved into a special period at the end of November, where sellers all over the world run heavily discounted sales (sell products at cheaper rates) to attract more customers and to offset their remaining goods from the beginning of the year.
Statistics tell us that 30% of all online sales happen from Black Friday to Christmas day.
Do you get what this means? It means that in all the months of the year, 30% of your entire sales will happen during Black Friday alone!
Also, in 2019, over 142 million people bought products during Black Friday alone! Can you imagine the sheer number of customers that come out during Black Friday?
You might ask, why this? What's the special thing that makes sales increase during this period? The mathematics is simple.
During Black Friday, sellers give their customers mouth-watering discounts that make their products cheaper. You know that I know that everyone loves good deals & cheaper prices.
Some people actually wait till Black Friday to buy the things they should have gotten since the beginning of the year. Just because of awoof and Black Friday deals.
It is also a great time to sell off those products that have been with you for a long time - we call them products with coconut heads. If you use the Bumpa app to sell your products online, you can open the app and view your analytics to see your least-performing products.
So, yes! Black Friday is a strategic, important period for online sellers.
Now, Bumpa recognizes that:
So, Bumpa has decided to do something about it.
These are all the things Bumpa has to offer for your business this Black Friday:
This will include how to run Facebook and Instagram ads, how to calculate discounts and still make profit, social media branding, sales strategies, etc.
Basically, when you run a discount by reducing the price of your goods, that reduction removes from your profit.
Bumpa wants to reduce the amount you have to remove from your profit by giving you a certain amount to balance your profit margin.
This will make running Black Friday Sales easy and you don't have to do any extra calculations or run discounts into huge losses or debt.
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