The Black Friday and Cyber Monday (BFCM) shopping season represents the peak of the ecommerce year, often determining the annual success of many businesses. During these high-traffic periods, online retailers face the challenge of meeting skyrocketing demand, making inventory management and inventory forecasting critical. Without proper planning, companies risk stockouts, lost sales, and operational chaos, which can severely impact profitability. By forecasting demand, ensuring supply chain coordination, maintaining buffer stock, and having visibility across all sales channels, ecommerce businesses can avoid these pitfalls and maximize their BFCM revenue.

Leveraging email marketing alongside other channels is crucial for generating excitement and driving customer engagement ahead of BFCM promotions.

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Scroll Down to Get Your Black Friday Cyber Monday 2024 Operational Checklist! 👇👇

Understanding BFCM

What is BFCM?

BFCM stands for Black Friday and Cyber Monday, two of the most significant shopping events of the year. Black Friday marks the beginning of the holiday shopping season, offering massive sales and discounts, while Cyber Monday focuses on online shopping deals. Together, these two days create a shopping frenzy, providing consumers with great deals and businesses with the opportunity to increase their sales significantly. For retailers, BFCM is a golden opportunity to boost their annual retail sales, attract new customers, and clear out inventory with enticing promotions and discounts.

BFCM 2023 Stats and Trends

In 2023, Shopify merchants achieved a record-breaking $9.3 billion in sales during BFCM, representing a 24% increase compared to the previous year. This impressive growth highlights the increasing importance of BFCM in the retail calendar. Mobile sales saw a significant surge, with 75.7% of BFCM sales made online, up from 55% in 2022. This shift towards mobile shopping underscores the importance of having a mobile-optimized store to capture the growing number of consumers shopping on their smartphones. With about 30% of all annual retail sales occurring between Black Friday and Christmas, BFCM is a crucial period for retailers to maximize their revenue and capitalize on the heightened consumer spending.

When is Black Friday in 2024?

When is Black Friday 2024? Black Friday always takes place the day after Thanksgiving in the United States, so in 2024, it will begin on Friday, November 29. The shopping frenzy will last four days, wrapping up on Cyber Monday, which lands on December 2.

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Here's why you need to get ready:

The stakes are incredibly high during BFCM due to the immense influx of customers and transactions over a short period. Here's why careful inventory planning is non-negotiable for ecommerce businesses:

• Black Friday online sales reached approximately $9.8 billion in 2023, which represents a 7.5% increase from 2022, surpassing the previously reported $9.12 billion!
• Cyber Monday 2023 set a new record with $12.4 billion in online spending.
• In the Thanksgiving weekend of 2022, a record 196.7 million shoppers flocked both online and in-store, making it one of the most active shopping weekends ever.
• About 30% of all annual retail sales occur between Black Friday and Christmas.
• Retail traffic on Black Friday is five times higher than on average days.
• 56% of customers to begin their holiday shopping in October.
• During the holidays, the consideration stage is extended as consumers browse, research and shop for deals. So cart abandonment is expected to spike.
• Product shortages and supply chain issues may affect the availability of high-demand items during the season.

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During the BFCM shopping season, consumers tend to spend more time browsing, comparing, and researching products before making a purchase. This extended consideration stage means customers are evaluating deals across multiple retailers, increasing the likelihood of cart abandonment as they wait for better offers. Retailers must be mindful that consumers are more price-sensitive, often abandoning carts to search for more discounts or promotions. This behavior also heightens the risk of product shortages, especially when demand for specific items surges unexpectedly, leading to out-of-stock scenarios if inventory is not carefully managed.

To combat this, retailers should ensure timely inventory forecasting and supply chain readiness to meet consumer demand. Additionally, implementing cart recovery tactics—such as targeted reminders or exclusive discounts for abandoned carts—can help retain these customers during their extended decision-making phase.

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To help you prepare for this intense period, scroll Down to Get Your Black Friday Cyber Monday 2024 Operational Checklist!

How to Prepare for the Holiday Shopping Season: Black Friday Cyber Monday 2024

‍Maximizing BFCM success starts with proactive inventory planning:

📝 Inventory Forecasting

Using historical sales data from previous Black Friday and Cyber Monday seasons, ecommerce businesses can predict demand for high-traffic items. This allows for accurate inventory forecasting, ensuring stock levels align with consumer expectations. Consider demand spikes for trending items and adjust orders accordingly.

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📦 Supply Chain Coordination

Confirm that suppliers are ready for increased order volumes. This is crucial to avoid supply chain bottlenecks. To prevent stockouts, businesses should maintain buffer stock for best-selling products and have alternative suppliers on standby.

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🔍 Inventory Visibility for Black Friday Cyber Monday

Implement real-time inventory management software that synchronizes data across warehouses and sales channels. This prevents overselling, stock discrepancies, and manual errors, ensuring your inventory is always up to date.

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🔙 Backorder Management

During BFCM, popular items may sell out quickly. Offering backorders is a great solution, allowing customers to continue placing orders while awaiting stock replenishment. Transparent communication about expected delivery times helps maintain customer trust and prevents frustration.

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Here's how you can get the most out of our BFCM Operational Checklist:

• Duplicate our Notion template: Seamlessly add our checklist to your own workspace for easy access and use.

Here is the link to it: Notion Template

• Download as a PDF: Prefer a hard copy? Download the checklist as a PDF to keep it handy.

• Add events to Google Calendar: Stay on top of every task by integrating our checklist directly into your Google Calendar.

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👉 Your BFCM 2024 Operational Checklist!

With this checklist, you can methodically prepare every aspect of your e-commerce business for the lucrative but high-stakes Black Friday rush. The two weeks leading up to the big day are critical. From finalizing promotions to scaling up servers to expanding seasonal staffing, our checklist has you covered.

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Three Months Before Black Friday (Starting Late August)

Inventory Management & Fulfillment

Forecast Demand:

• Analyze previous Black Friday sales data to forecast demand for this year.

• Identify key products and expected high-demand items by August 31st.

Plan Your Preorder Strategy:

• Identify products suitable for preorders based on demand forecasts.

• Set up preorder systems and ensure integration with inventory management software by September 10th.

• Coordinate with suppliers to ensure timely delivery of preorder items.

Place Orders:

• If you haven't created POs yet, check your lead times and consider making your orders. Make sure your incoming POs will be delivered on time before BFCM by September 15th.

• Confirm delivery timelines with suppliers to avoid delays.

Negotiate Rates:

• Contact shipping partners to negotiate rates and confirm capacity for increased volumes by September 15th. Consider purchasing labels in bulk for a greater discount from your supplier.

• Plan for additional pickups and deliveries.

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Warehouse Preparation (Skip this part if you're working with a 3PL)

Optimize Layout:

• Plan and implement changes to warehouse layout to improve efficiency by September 10th.

• Designate areas for fast-moving items and high-demand products.

Assess Equipment:

• Check the condition of all warehouse equipment and perform necessary maintenance by September 20th.

• Order additional equipment if required.

Stock Packing Supplies:

• Ensure sufficient supplies of boxes, tape, labels, and other packing materials by September 20th. 

Pro Tip: Order 20% more packaging supplies because things get really messy during BFCM 😅!

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Staffing

Hire Seasonal Workers:

• Start the recruitment process for seasonal workers by September 1st.

• Plan training sessions to onboard new hires efficiently.

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Technology (System Upgrades)

Review Technology:

• Assess current warehouse management systems and order processing software by September 5th.

• Implement any necessary upgrades or improvements by September 25th.

Pro Tip: Avoid risky upgrades or technology changes before BFCM and don't take any major risk.

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Marketing and Communication

Test Your Campaigns When CPCs are still low:

• Identify your best-performing products by testing while CPCs remain low, before the BFCM period. During BFCM, it's crucial not to take major risks with your campaigns.

• Design and schedule your marketing campaigns for the BFCM period, ready by September 15th.

Pro Tip: Working with professionals, especially during hectic periods, can significantly reduce your workload.

Preorder Announcement:

• Plan and organize marketing campaigns to promote preorders, which should be ready to launch by September 15th.

• Ensure clear communication on expected delivery dates and 

• Prepare a backup communication plan in case of any potential delays in the fulfillment date.

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One Month Before (Starting Late October)

Inventory Management & Fulfillment

Confirm Stock Levels:

• Verify that all ordered inventory has been received and is accurately recorded by October 31st.

• Conduct a full inventory audit. 

Pro Tip: Ideally, do a stocktake to measure your current inventory!

Finalize Preorder Process:

• Confirm all systems are ready to handle preorder processing and fulfillment.

• Ensure preorder items are prioritized in the inventory system for accurate tracking and fulfillment.

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Warehouse Organization (Skip this part if you're working with a 3PL)

Prepare for High Volume

• Organize warehouse for optimal flow of goods by November 1st.

• Set up designated packing stations for increased order volumes.

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Staffing (Staff Training)

Operational Procedures:

• Train staff on updated procedures and expectations for Black Friday by November 7th.

• Conduct safety training to minimize accidents.

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Technology (System Testing)

Stress Test Systems:

• Perform stress tests on order management and warehouse systems to ensure they can handle peak traffic by November 5th.

Backup Plans:

• Develop and test contingency plans for system failures.

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Customer Service

Prepare Support:

• Train customer service staff on how to deal with the customer, how to handle inquiries or changes to orders, and preorder policies (including expected delivery times) by October 31st.

Customer Service Tool Prompts:

• Go over your canned responses and test your customer service AI prompts. Update them as needed for BFCM.

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Marketing and Communication

Campaign Kick Off

• Kick off your BFCM campaigns, including preorder promotion, by October 29th.

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Two Weeks Before (Starting November 15th)

Inventory Management & Fulfillment

Review Inventory:

• Conduct a final check of inventory levels by November 18th.

• Ensure fast-moving and high-demand items are easily accessible.

Monitor Preorder Stock:

• Conduct a final review of preorder stock to ensure all items will be available for timely fulfillment by November 18th.

• Coordinate with warehouse staff to prioritize packing and shipping of preorder items as soon as they are available.

Fulfillment Processes:

• Review and optimize fulfillment processes by November 20th.

• Ensure all packing stations are fully stocked and organized.

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Staffing

Confirm Staffing:

• Finalize schedules for all staff, including seasonal workers by November 15th.

• Ensure all staff are aware of their roles and responsibilities.

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Marketing and Communication

Campaigns:

• Make sure your campaigns are running smoothly. Check the products with the highest CPCs and highest conversion rates to optimize your ad spend.  

Internal Coordination:

• Ensure all departments (Customer Service, Sales, Marketing) are aligned on operational procedures and expectations by November 18th.

Preorder Confirmation and Updates:

• Send out confirmation emails for all preorder customers, including any final updates on expected delivery times by November 20th.

Shipping Partners:

• Confirm final pickup schedules with shipping partners by November 20th.

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One Week Before (Starting November 22nd)

Inventory Management & Fulfillment (Final Inventory Check)

Prepare for Preorder Fulfillment:

• Ensure preorder items are the first to be processed and shipped as soon as they arrive in the warehouse by November 25th.

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Warehouse Operations (Skip this part if you're working with a 3PL)

Prepare for Peak:

• Ensure all packaging stations are fully operational by November 25th.

• Confirm additional pickups and deliveries with shipping partners by November 26th.

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Monitoring (Real-Time Readiness)

Monitor Systems:

• Begin continuous monitoring of order management and warehouse systems by November 22nd.

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Staffing (Staff Briefing)

Staff Briefing:

• Conduct a final briefing with all warehouse staff on expected order volumes and procedures by November 23rd.

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On Black Friday (November 29th)

Warehouse Operations (Skip this part if you're working with a 3PL)

Order Processing:

• Prioritize orders based on shipping deadlines.

• Ensure all orders are packed efficiently and accurately.

Staff Management:

• Provide breaks and support to maintain staff efficiency and morale.

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Monitoring (Real-Time Monitoring)

Order Volumes:

• Continuously monitor order volumes and adjust staffing levels as needed.

System Performance:

• Monitor order management and warehouse systems for any issues.

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Customer Service

Order Updates:

• Send automated order confirmations and shipping updates to customers.

Support Availability:

• Ensure customer service is available to handle any order-related queries or issues.

Preorder Shipping Notifications:

• Send shipping notifications to customers as their preorder items are dispatched.

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Post Black Friday

Inventory Management & Fulfillment (Inventory Reassessment)

Complete Orders:

• Ensure all remaining orders are processed and shipped promptly by December 1st.

Stock Count:

• Conduct a post-Black Friday inventory count by December 2nd.

Replenish Stock:

• Place orders to replenish stock levels based on sales data by December 5th.

Review Preorder Performance:

• Analyze the success of preorder campaigns, including fulfillment efficiency and customer satisfaction by December 5th.

• Adjust preorder strategies for future sales events based on insights gained.

Manage Returns:

• Prepare for an increase in returns and ensure the returns process is efficient.

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Staffing (Staff Debrief)

Feedback:

• Conduct debrief sessions with warehouse staff to gather feedback on what worked well and what could be improved by December 3rd.

Recognition:

• Acknowledge and reward staff for their hard work during the peak period.

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Operational Review

Analyze Performance:

• Review operational performance data to identify bottlenecks and areas for improvement by December 10th.

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Plan for Next Year:

• Use insights gained to plan and improve operations for the next Black Friday.

• This detailed checklist, complete with specific dates, ensures your operations team is well-prepared for the Black Friday rush, ensuring efficient order processing, timely shipping, and exceptional customer satisfaction.

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