Online retailers and eCommerce stores typically see sales jump over the holiday season. Nonetheless, afterward, the buying fever subsides, and it’s not just your imagination. According to INC, February is among the slowest months for business in the United States.
If you want to avoid the post-holiday season spending slump, you've found the right place. Although maintaining the December sales trend throughout the year is tough, there are techniques to prevent crashing and burning in January. Here at FenixCommerce, we’ve curated a list of effective strategies to continue driving sales higher to beat the post-holiday season slump.
There's a good chance you've given a coupon, promotion, or even a free product to a customer in the last few months; however, it may be time to do it again. Due to the deals and discounts that brands give over the holiday season, internet buyers spend more than usual.
However, after spending so much money, buyers are less likely to want to buy anything after the holiday season, let alone at full price. While using discounts and incentives increases the likelihood of customers returning and purchasing, it's understandable how this can hurt profit margins in the long run.
Fortunately, you don't have to offer a complete sale or discount to entice customers to look your way.
Customers, particularly returning ones, will be attracted to a new product released soon after the holidays. And, thanks to FOMO (fear of missing out), they'll at least look it over, and perhaps even buy.
Just a reminder that if this is something you want to pursue, we recommend planning ahead of time, especially if you want to launch something new to your customers during the busiest time of year for eCommerce businesses.
Instead of allowing your sales to fall and hoping for a rebound, try some new post-holiday season eCommerce product launch strategies and see what results from your gain.
A new year can mean a new marketing strategy, so go through your database, brainstorm that ad, and design that fresh email campaign for the new year.
In the email, you want to welcome your new customer, give them a preview of what's to come, and give them a discount or offer in general.
With so many online shoppers coming and going on your website, you should be remarketing to them during the busiest time of year, the holiday season. Visitors who see retargeted ads are 70% more likely to convert on your website, according to statistics by Spiralytics, so it's no surprise that many Retailers do it.
Using a Branded Order Tracking Page is another way to remarket your online store and offer promotions to people who’ve already purchased from you. Our data has shown that the average customer will check the delivery status of their order 3 - 6 times each visit provides you the opportunity to connect with that customer and direct them to your website or social media page.
In addition, remarketing is just as likely to work in the new year as it is during the holiday season, especially when a deal is offered, as discussed in the first step. You don't want your website to go hungry after the holiday season, so give them a reason to spend time with you, and they'll be more likely to return and make a purchase.
Social proof has become an essential component of the online purchasing cycle, and it's not slowing down. It instills trust, capitalizes on FOMO, and provides online visitors with the visual proof they require before deciding. As a matter of fact, customers spend 31% more with a business that has positive reviews; without them, you could lose a significant amount of revenue.
If you're having difficulty requesting a review, we recommend contacting customers via email, SMS, or even a phone call if you're willing to go the extra mile, or offer an incentive such as a discount or shipping promotion.
With big-box retailers like Amazon and Walmart continuing to dominate the eCommerce scene, customer expectations for fast and free delivery are higher than ever. Actually, according to one study, 51 percent of Americans wait until Christmas Eve to buy gifts, and while they may go to a store, you can bet at least a few are looking online.
Even if you provided a fantastic delivery experience for your consumers throughout the Christmas season, offering free and fast shipping during the post-holiday season is a great way to attract new customers or motivate existing ones to purchase again.
To enhance demand, for example, you may run a New Year promotion offering Free expedited shipping and Free Returns if the customer orders by a particular deadline.
If this seems like a lot of effort, FenixCommerce makes it very simple for the brands to automate this entire process. With Fenix, brands can intelligently offer free and fast shipping only to qualified shoppers on their own eCommerce stores.