November 07, 2023
Amid the hustle and bustle of the holiday season, every retailer's goal is to make their sales figures merry and bright. In this episode, we unravel eight savvy strategies that can help skyrocket your holiday sales, ensuring your business ends the year on a high note.
Kickstart your holiday sales planning months ahead, not just weeks. When it comes to sales, being prepared is half the battle won. By the time you tune into this podcast, your holiday deals should either be live or on the verge of launching.
With credit card balances soaring, especially in states like Connecticut, New York, New Jersey, and Rhode Island, consumers may be on the hunt for the best discounts. Delve deeper into this phenomenon here. Although delinquency on payments is relatively low, it's creeping up to its highest since 2013. Tailoring discounts to meet consumer demand in these states could be a wise move.
Equip yourself with a thorough understanding of your profit margins, inventory levels, and customer demographics. Data isn’t just digits; it’s a powerful tool that can drive informed decisions. Explore the concept further in our blog: Discounting Downfalls.
Build anticipation among your audience well before the holidays. Utilize platforms like social media and email marketing to tease upcoming deals. Remember, 71% of shoppers want a sneak peek of your deals before the Black Friday weekend to plan their shopping spree - a tip from Harley at Shopify.
Stock adequacy is crucial to meet the surging holiday demand. The last thing you want is an out-of-stock sign tarnishing your sale. Especially when 74% of U.S. holiday shoppers plan to spend as much or more on gifts this year, according to Harley @ Shopify.
A smooth, user-friendly website is essential to keep customers from bouncing off. Ensure your website can endure the traffic surge, as 93% of shoppers will snag some of their gifts online — another nugget from Harley @ Shopify.
Entice customers with deals that are too good to pass up. Whether it's a discount or a value-add offer, make sure it's compelling. Also, consider bundling less popular products with top-sellers to clear out inventory and introduce customers to new offerings.
Seize the opportunity to maximize each transaction. Suggest related or premium products to customers, creating a win-win scenario. For instance, offer a "Buy 2 more for 20% off" deal to encourage bulk purchases.
Prepare for a surge in customer inquiries and ensure your support team is ready to provide exceptional service. A happy customer today can translate into a loyal customer tomorrow. Plus, assure customers that their purchases will arrive before Christmas to instill confidence and satisfaction.
The holiday season is a golden opportunity to not only boost sales but also to create lasting relationships with customers. By implementing these proactive strategies, you are setting a solid foundation for both immediate sales success and future customer loyalty. So, gear up, get your holiday sales strategy in place, and may your sales figures be merry and bright!
You can listen to the expanded version of this on our podcast here or book a call with our team!