Three things to avoid during the retail peak period

As we enter the final quarter of the year, event sale days such as Halloween, Black Friday and Cyber Monday, are high on the agenda for the retail sector. This year has been difficult for many UK businesses. Squeezed incomes, the shift to online, changing consumer behaviours and purchasing attitudes, as well as rising overheads, have all contributed to the collapse of many well-loved retailers. In such a competitive market and in the midst of an uncertain economic climate, it is important for retailers to be planning ahead for the golden quarter. 

A successful peak period  

Retailers know that Black Friday/Cyber Monday campaigns are great for boosting sales. With competition set to be fiercer than ever before, retailers and brands need to ensure their products are visible and available during the campaign. Preparation is key here.

1. Don’t run out of product! 

The amount of stock and product in demand is vast and the increasing numbers in range need accurate allocation, storage, and volume. Merchandisers work through previous year’s data to try and forecast accurately the demand during these peaks. If you run out of stock, your customers will find another deal elsewhere.

2. Don’t assume your site can handle the strain

Crashing E-commerce sites caused by the sheer volume of traffic are bad for business during these key times. For each one-second delay in page load time, there is a significant decrease in customer satisfaction, page views conversion rates. Investment in vendor agreements, ensuring contracts include ample capacity and mobile optimisation is a must. Your IT and digital teams will be crucial in preparing your website for these sales dates.

3. Don’t delay

Many campaigns now begin the week leading up to Black Friday, which gives the consumer more opportunities to bag that bargain. It is the lead up to these key dates when you could see the most growth. In line with these trends, Amazon usually kicks off their sales on the 14th of November. Marketing teams are fundamental to the effective scheduling of these campaigns to make the most of the peak period.

Talent is the key

With the shift to online shopping significantly reshaping the retail sector, the preparation in the lead up to peak times now requires the input from a number of key business functions. It is crucial that there is a collaborative approach to such events like Black Friday.
In 2017, IMRG reported that Black Friday UK online expenditure was up +11.7% to £1.39bn. Of this spend, 39% was completed on a smartphone, the highest share of sales compared to desktop and tablet devices. This further highlights the shift in the way we shop. Consumers would rather basket items on their iPhone than browse on work desktops, or hustle on the high-street over lunch.
Behind the scenes of our favourite retail brands, most operations are running a 24/7 shift pattern. They are fully staffed having planned for the peak period all year, filling and recruiting throughout the summer, and autumn. In the warehouse, the racking is stacked full, every loading bay has a vehicle waiting to be serviced and the operation is, hopefully, running at full capacity. In the head office, product and digital teams work on the promotional activity, pricing, and availability, IT infrastructure and stability are monitored, whilst customer service teams work around the clock. On the front line, retail staff can double in size during peak trading like Black Friday and Cyber Monday. 
To handle this phenomenon, as mentioned above, preparation is key. Not just in terms of purchasing the right product and ensuring your site is ready for key sales dates, but also for your recruitment processes. It is essential that retailers recruit the right talented, flexible, and part-time employees across multiple functions to deliver a truly streamlined and profitable peak campaign.
If you would like to discuss how we can assist with your recruitment processes, contact your local Michael Page office. Alternatively, submit a job spec or request a call back and we will be in touch. 
Lauren Booth
Associate Director, Michael Page Retail & Fashion 
T: +44 161 829 0453