For most online retailers, the holiday season represents the most successful and busiest time of the year, counting for as much as 20-40% of annual sales.
Understandably, once the holiday shopping rush slows down, beginning around the last week of December, shoppers tend to go quiet and online retailers experience a significant drop off in sales; which can last for several months into the New Year.
To help you recover from this slump more quickly and keep the holiday sales momentum going, we have pulled together a 7-point checklist providing you with top tips on how to revive your online sales after the holiday spike.
First and foremost, don’t go quiet! After the holiday season, online retailers are exhausted and so are consumers. However, shoppers are still there and if you manage to get their attention when everyone else is quiet, whether this is in the form of a new sale or a new product range, you will be one step ahead of the competition!
Don’t forget that shoppers buy not only during holidays, but when they encounter attractive discounts! So keep the deals coming well into the New Year, with special January and February promotions. You can also discount your winter inventory, and label it ‘winter clearance’ or ‘after Christmas sale’.
If you can’t provide your customers with an extensive post-holiday sale, you can still give them a little extra by including a discount coupon or gift card for a January purchase with items sold in December. This will not only benefit your online business during lower traffic periods, but will also incentivise purchases during the holidays.
If you can’t afford to provide attractive discounts on individual items, create promotions that are appealing to customers but also lucrative for your business. For example, offer bundles of related products, providing percentage discounts on orders over certain amount, or feature promotions such as ‘buy 2, get 1 free’.
If offering free or discounted shipping year-round is not plausible for your business, consider featuring it in your offers during the periods with lower traffic. This will differentiate you from competitors and will certainly attract more visitors to your online store.
Don’t forget to advertise your plan to offer free or discounted shipping during the first months of the New Year.
Another way to encourage shoppers to visit your store after the holidays is by introducing a new, exciting product or product range. This will not only get the attention of your current customers and attract new ones, but will also help you stand out from the competition, as most retailers don’t have the time to plan and prepare for a new product launch during the holiday season.
Once the New Year hits, consumers’ mindset tends to change drastically. Most people promise to themselves that in the New Year they will lose weight, eat healthier, start working out or clean their homes more regularly.
Narrow down the most popular New Year’s resolutions and make them shoppable! Focus on products that enhance health, provide organisation and productivity, or facilitate cleanliness.
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