Dec 16, 2022 · Partners
The holidays are a holiday shopping extravaganza. The problem is that, for many brands and businesses, it's also a period where they can't compete with the likes of Amazon, Walmart, and other big-box stores. However, there are still ways to get your foot in the door during the most profitable time of year for eCommerce. Here are some tips to boost holiday sales and increase your revenue:
When you have an existing customer, there are many ways to upsell.
Offer a higher-value product. If you sell cars and a customer is considering buying a Chevy Camaro, offer them the option of upgrading to the Corvette.
Offer a more expensive product. You might sell hammers at $5 each, but if someone asks for one, in particular, show them the one that costs $10 and explain why it's worth it (either because it's sturdier or has some other feature).
Offer a better product—if your business sells shoes and someone asks for boots, show them the nicer ones from another brand that you also carry instead of just showing them all of the pairs in stock; this will help build trust with your customers as well as give them the incentive to buy from you again so they can get these exact same boots at their next visit!
Free shipping. It's an oldie but goodie. Who doesn't love getting something for "free" (that's really what it is, right? You're not actually paying for it)? And who doesn't love receiving a package in the mail?
With free shipping, you can increase your sales by offering something that will be appreciated by customers who may have been on the fence about buying from you. Don't forget to mention that the offer is available for a limited time only, so don't wait too long to take advantage!
Buy One, Get One
The most common type of sale is the "buy one, get one (or two)" deal. If a store offers this promotion, customers who purchase one item will receive another at a discount. For example:
Buy any pair of shoes, get a second pair for half price
Purchase any watch and get another watch for 50% off
Buy four items and get your fifth item free
GWP is a great way to increase sales and build loyalty. It’s also a marketing tool, as it can be used to introduce new products or services. GWP offers can also serve as an upsell for customers who are already purchasing from you. The offer doesn’t have to be expensive or elaborate; in fact, sometimes the smallest gift can mean the most!
$100 off your next purchase? $50 off any product in our catalog?
"You're not going to believe this, but we have an unprecedented offer: a free one-year subscription to our magazine."
"We're so sure you'll love it that we'll let you try it out for 50% off (normally $49.99/yr). Plus, if you decide it's not for you after 30 days, just cancel and get your money back."
The problem with this approach is that people often see free things as being too good to be true—and they are! You want people who sign up for your newsletter or opt-in for your email list to feel like they've gotten something valuable from those interactions. A great way to do this is by offering a limited-time discount on their first purchase from your store. This will make them feel like they've gotten something in return for signing up and may even convince them that there are other benefits of doing so (like getting notifications when items go on sale).
Countdown Timer: A countdown timer can be a great way to show customers that they have limited time to make their purchases. This is especially useful when you are offering a discount that applies only for a certain number of hours or days. You can also use this feature when you plan on closing down your store for the holiday season and want to inform customers about it ahead of time.
Limited Quantity Discounts: Another way to increase sales is by limiting the number of products available at discounted prices, especially if those products are popular among consumers during the holidays. It might seem like common sense, but people love feeling like they are getting something exclusive (or even rare) because it makes them feel special—and we all know how no one wants to feel left out!
Holiday discounts are a great way to boost holiday sales. But don’t just throw your products on sale without thinking about how to use these tips to increase revenue and profit. For example, you could offer a buy one, get one free deal on an item that makes sense for the time of year—like snow shovels for winter or beach towels for summer. Make sure you’re using the best discounting strategy for your business so that customers will keep coming back again and again!
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