E-Commerce Retail: How to Beat the Post-Christmas Blues
The vast majority of retailers, both online and off, have already implemented their sales strategies for Black Friday, Cyber Monday and Christmas; the most savvy of these retailers had these strategies fully designed and ready to roll months ago. While this means it is almost certainly too late to get in the game if you haven't already, it definitely isn't too late to prepare for the inevitable slump that follows these annual buying-frenzies.
Even retailers that have been in the trade for years can find themselves feeling deflated right after Christmas; in part, it is the stark contrast between the bright lights (and of course steady stream of orders) of the festive period followed by a sudden lack of business immediately after. Even worse, this time of year is when product return levels reach a spike, causing you to notice the small amount of money you are losing and thus lose focus of the larger amount you have gained in un-returned sales!
As in many retail situations, in helps to put yourself in your customers' shoes. What is YOUR spending like after Christmas is over? For most of us, the start of the New Year is a time to economise, keeping a tight hold on the purse strings after spending so freely on Christmas.
So, what's the solution? The starting point is, instead of focusing on the negatives, start taking action that will end in a positive result. As you will probably be one of the significant majority of retailers whose profits are the highest over the festive period, you can afford to relax a little, not just your mind but your prices as well!
Invest some of your profits by lowering the regular cost of your stocked items; even a relatively small reduction could easily make a big change to your bottom line. The January Sales are a national institution here in the UK and, with pockets and purses feeling decidedly light after Christmas, shoppers most definitely have their eyes wide open for bargains.
In a recent edition of the Brickweb blog, we shared the results of a recent McKinsey survey, the key takeaway from which was that more than seven in ten (71%) online consumers in the UK not only want to receive personalised experiences from brands they have previously bought from; they actually EXPECT such experiences. Among these consumers, more than three-quarters (76%) get frustrated if a personalised experience is not unique enough.
Now is thus the perfect time to get personalising! While lowering prices across the board isn't a bad idea, this will give your campaign a much higher chance of success. Leverage your data and give customers the unique experiences they demand by doing things like offering them exclusive discounts based on products they have previously purchased. Use your imagination!
Another seemingly-negative aspect of the post-Christmas retail landscape is those pesky returns of gifts that were poorly-chosen by the giver and rejected by the recipient. Don't grumble about these returns: instead, use them as an opportunity to make sure your return policy and process is clear, fast and fair. Customers who enjoy a seamless, quibble-free return process will feel more positive about your brand, helping to establish and cement two crucial elements of any business: customer loyalty and the reputation of your business.
These are just some of the ways that you can ease those notorious Christmas blues. Of course, all e-commerce websites need to work year-round to make the most of every opportunity and this is more easily said than done. What you need is a partner to work with, one which has the knowledge, drive, experience and intuition required to not only survive in the cutthroat internet retail landscape, but to thrive.
You can probably guess who that is! Yes, it is Brickweb, a leading e-commerce development agency with decades of experience and a proven track record of success. But don't just take our word for it: check out our client portfolio and visit some of their websites to get an idea of what we do. Then, get the lowdown on the performance of your current website with our free SEO report.
The final step in this process, which is simultaneously the first step to revolutionising the way your business operates online, is to get in touch with our team. We are only a phone call away...