Black Friday: How to use Big Data to plan and optimize sales?
Posted: Sun Dec 22, 2024 5:40 am
Black Friday is a period of unique opportunities for companies. It is the right time to boost sales, sell off stock and achieve good results at the end of the year. This date can be even better used with good planning based on data. To do this,Big Datais fundamental.
The idea is to better understand consumer habits and deliver perfect offers. In this post, you will learn how this can be done and the influence of the use of Big Data on Black Friday. Check it out!
Big Data in trend forecasting and inventory optimization
Big Data provides thedata analysison a large scale, extracting from this high volume the precise information for a business. In this case, consumption data can be of great value for tracing trends. On Black Friday, it is possible to sell even more if you understand exactly what your consumer wants.
To have this insight, it is necessary to analyze data, and the sources are varied. Among them are:market research, information from credit card operators, records of your company's purchase history and a series of other databases.
If you know what your target audience tends to consume, your australia whatsapp users has basic information to start preparing your inventory. One of the biggest frustrations on Black Friday, and also a mistake, is not having enough products on offer. In addition to causing problems for the consumer, it also means losing sales opportunities.
Focus on what is most in demand
An optimized inventory, however, is not one that is completely full, but rather focuses on what is most sought after. This perception is obtained through the analyses provided by Big Data. The accuracy in reading the information is capable of delivering precise consumption trends, which indicate the favorites among consumers.
As a result, the business has a high sales volume because it knew how to deliver what demand was looking for. In addition, stocks will not be marked by stranded products, which usually leads to the need for more promotions.
The best offers according to your consumption profile
For some time now, Black Friday has been under the scrutiny of experts, and articles about the relevance of the offers have begun to appear close to the date. In fact, many companies take advantage of the excitement of the period to promote uninteresting prices. However, consumers are becoming increasingly demanding and selective.
In addition to price, consumers are also looking for something that is truly relevant to them. An interesting offer goes beyond low prices. More and more, people are looking for specific products, and companies must use Big Data to identify this. The ideal proposition for consumers is a product that is suited to their reality.
Using data to understand public demands
Data should be used to understand the habits and previous searches that these people have made regarding products. Finding this information makes it possible to develop more accurate sales opportunities. These opportunities go beyond good prices and meet real consumer needs.
Suppose that six months ago the search was for a certain cell phone model, but a newer one has been released. This new feature will not necessarily make the old one obsolete. The company can work on offers with this device that was strong in searches, generating good sales opportunities.
Personalization can be done even with less precise data, focusing on broad habits and preferences. In a clothing store, for example, it is possible to understand the customer's preferences. If a woman searched for or bought floral dresses, that specific product should be offered on Black Friday.
The idea is to better understand consumer habits and deliver perfect offers. In this post, you will learn how this can be done and the influence of the use of Big Data on Black Friday. Check it out!
Big Data in trend forecasting and inventory optimization
Big Data provides thedata analysison a large scale, extracting from this high volume the precise information for a business. In this case, consumption data can be of great value for tracing trends. On Black Friday, it is possible to sell even more if you understand exactly what your consumer wants.
To have this insight, it is necessary to analyze data, and the sources are varied. Among them are:market research, information from credit card operators, records of your company's purchase history and a series of other databases.
If you know what your target audience tends to consume, your australia whatsapp users has basic information to start preparing your inventory. One of the biggest frustrations on Black Friday, and also a mistake, is not having enough products on offer. In addition to causing problems for the consumer, it also means losing sales opportunities.
Focus on what is most in demand
An optimized inventory, however, is not one that is completely full, but rather focuses on what is most sought after. This perception is obtained through the analyses provided by Big Data. The accuracy in reading the information is capable of delivering precise consumption trends, which indicate the favorites among consumers.
As a result, the business has a high sales volume because it knew how to deliver what demand was looking for. In addition, stocks will not be marked by stranded products, which usually leads to the need for more promotions.
The best offers according to your consumption profile
For some time now, Black Friday has been under the scrutiny of experts, and articles about the relevance of the offers have begun to appear close to the date. In fact, many companies take advantage of the excitement of the period to promote uninteresting prices. However, consumers are becoming increasingly demanding and selective.
In addition to price, consumers are also looking for something that is truly relevant to them. An interesting offer goes beyond low prices. More and more, people are looking for specific products, and companies must use Big Data to identify this. The ideal proposition for consumers is a product that is suited to their reality.
Using data to understand public demands
Data should be used to understand the habits and previous searches that these people have made regarding products. Finding this information makes it possible to develop more accurate sales opportunities. These opportunities go beyond good prices and meet real consumer needs.
Suppose that six months ago the search was for a certain cell phone model, but a newer one has been released. This new feature will not necessarily make the old one obsolete. The company can work on offers with this device that was strong in searches, generating good sales opportunities.
Personalization can be done even with less precise data, focusing on broad habits and preferences. In a clothing store, for example, it is possible to understand the customer's preferences. If a woman searched for or bought floral dresses, that specific product should be offered on Black Friday.