The 2020 holiday season, just like the rest of the year, is bound to be like no other. While retail overall has been uncertain in the face of this pandemic, eCommerce has seen some gains and is expected to be the channel of choice for shoppers and retailers alike. In fact, the IBM US Retail Index estimates that the coronavirus leapfrogged the shift towards eCommerce and away from in-store retail by five years, as more consumers opt for digital over in-person shopping.
With the holiday retail season already started, you need to make sure you are doing all you can to capitalize on digital sales. Here are three eCommerce holiday sales tips to help give you a boost and perhaps make this sales season a little merrier.
Offer Fast, Inexpensive Delivery Options
Now more than ever, consumers expect fast and cheap shipping methods for their online purchases. Nothing stalls an online purchase like a shipping fee that’s half the cost or more of the shopping cart itself. Make discount shipping a part of your holiday strategy. While you may not be able to offer free shipping to everyone, perhaps it makes sense to do so at a certain cart size – this way, you’re using free shipping to increase average order volume. Also, don’t forget to plan for the possibility of delays with your shipping carrier.
Build Brand Loyalty – and Revenue
Devise a strategy to build brand loyalty to keep both your new and old customers engaged with your business throughout the holiday season, the pandemic and beyond. This article from CB4 cites research that shows increasing customer retention rates by 5% can lead to an increase in profits of 25% to 95%. Consider offering incentives, like discounts or sneak previews, for customers to purchase subscriptions. Subscription offerings can be as light a lift as allowing customers to subscribe to items they might frequently purchase, allowing you to guarantee that they will buy the items from you. They can become a source of guaranteed revenue for your business that keeps giving beyond the holiday season.
Use the Right Payment Solution – with the Right Features
As your business navigates the holiday season, you want a payment solution that is not only reliable, convenient and secure, but that also helps you increase sales and reduce costs, while protecting your business and providing actionable data. You need a payment solution that can help you optimize for results during this crucial time of the year. Additionally, with more online activity comes more opportunities for fraudulent behavior. Be sure you have a payment solution with the right features to help you adequately block nefarious actors.
With these tips, you don’t have to hold out for a holiday miracle to make the most out of your digital channel. But there is more you could do. If you’re looking for additional ideas to boost your efforts this season, check out our eBook, “12 Holiday Tips for eCommerce Selling in 2020.”