A terrible thing occurs to the majority of e-commerce websites every year. Around the beginning of January, everything starts to decline after the holiday sales peak. Even worse, consumers begin returning items. Returns are a major logistical nightmare, especially if you have to pay for all of the postage. You experience a big sales high that quickly collapses, leaving you despondent and battling declining revenue.
The start of holiday shopping means that businesses are already benefiting from consumer spending at this time of year. According to a survey released on Saturday, Americans spent a record $9.12 billion online on Black Friday as they avoided the pinch of high inflation and took advantage of deep deals on everything from smartphones to toys.
Cyber Monday outsold Black Friday in terms of sales, breaking the previous record for the biggest e-commerce sales day. While the holidays are a great storm for growing your company's income, maintaining this momentum requires extra work.
The best time of the year is not right now. It's actually the most terrible season of the year, and it may leave an online store in ruins for several months.
Is there a means of preventing this? Thank goodness, there is. You will indeed go through a slump. However, by implementing the next few strategies, you'll be able to bounce back from the slump more quickly and resume your big-time sales pace.
Utilize strategies for segmentation and retargeting.
Implement segmentation and retargeting strategies after understanding your audience. Use those methods to reappear on a customer's radar if they previously expressed interest in a particular product but it didn't result in a sale.
Open a new sale
Prepare to do it all over again as soon as you've provided all the promotions, discounts, free gifts, coupons, extras, and free shipping you can reasonably accept.
In addition to the fact that it is the Christmas season, shoppers purchase from you because of the discounts. You can win back your clients for another round of deeply discounted rates if you keep offering discounts.
Promote a New Year's mindset
Once the New Year arrives, a consumer's thinking undergoes a significant shift. Up until the very last second of December 31st, people are indulging in delectable foods and beverages, spending money, accumulating items, and putting on weight.
On January 1st, something spectacular takes place. As they change. Consumers have a strong sense of self-control, steely resolve, and a commitment to "be a better person" right now. This is your moment to strike with some marketing.
Now is the moment to heed those wiser impulses. People won't indulge in junk food purchases, exorbitant wardrobe additions, or expensive toy purchases. However, they will invest in products that claim to improve their New Year's resolutions.
Publicize to certain email addresses
You should have a shining pile of goodness ready and waiting for you right after the holidays.
They are email addresses.
You're in a great position to begin marketing to those addresses if you followed e-commerce best practices and collected email addresses over the holiday season.
Do this right away. There is a deadline by which email addresses expire. Some customers may forget that they made a transaction from you. You can start distributing content and information that will keep customers engaged and active while their recollections of holiday purchases are still fresh.
The busiest time of year for online shopping is around the holidays.
Your website receives a ton of visitors who come and go, so you should be remarketing to them.
Don't be silent.
Retailers are worn out after the holidays. We expect that the clients are as well. But they're paying attention. They remain in place.
People will pay greater attention to your voice if you can shout when everyone else is quiet. There must be business. Heck, the economy has to improve. After all, it's a new year!
No matter what you do, don't be silent.
Encourage returns.
Returns are expensive for merchants financially and inconvenient for customers to mail back. However, both of those strikes could be lessened by attaching a promotion to the online return request, such as a 25% discount on purchases of $100 or more if made simultaneously with the return transaction. Add "send back your return in the packaging your new item comes in" if you like.
On social media, pay attention and respond promptly.
It's more crucial than ever to make sure your customer support team is adequately staffed so that every consumer inquiry is responded to on social media throughout the Christmas shopping season due to the surge in both online and offline customers. It's important to make an impression and perform at your best.
Build patron loyalty.
Consider developing a customer loyalty program that they can join up for at the time of purchase by supplying their email address as new customers shop around the holidays. Allow clients to accumulate points through purchases that may be redeemed for free gifts or other benefits. With their email address in your possession, you can entice them to return all year long with member-only discounts.
Enlarge to include global clients.
Cross-border chances are the best place to seek for growth prospects for brands. International consumers are keen to buy recognizable brands and items. They are frequently constrained by payment, shipping, or both when they check out, though.
Conclusion
This year, you may turn things up to a whole new high rather than giving in to the Christmas slump. Imagine it. Instead of beginning the year with a crash, you might start it off with some slamming sales. Consider how that will affect the remainder of the year.
What can you do to get better now that the holidays have passed? If you want to sell your item in a marketplace Storesgo is here.
Just sign up as a seller and upload your item to sell.