It’s that time of the year when Americans feast on food and spend on shopping! Thanksgiving is around the corner and with that comes Black Friday and Cyber Monday. Black Friday is generally considered the first day of the holiday shopping season, when stores start their special discounts, and Cyber Monday is the online shopping equivalent. With last year’s record-breaking online sales and more than 121 million people planning to shop, you don’t want to miss out on those post-Thanksgiving dollars.
Here are three easy strategies you can use this month to prepare your retail business for the ultra-feast of consumer spending.
Strategy 1: Keeping an Eye on Product Promotion
As a retailer, you need to think about the products you sell in comparison to the items people look for. For example, Thanksgiving and Black Friday have been known to generate more in-store sales around electronics and toys, while Cyber Monday tends to lean towards beauty products, clothing and shoes.
By understanding what items people are more likely to purchase during those days, you can create promotional campaigns that drive the attention towards your retail shop. If your goal is to attract more traffic to your brick and mortar store and you sell products that are frequently purchased online, try promoting in-store-only coupons.
Strategy 2: Cashing in on Social Media
According to CNBC, the 2015 Cyber Monday was the biggest online sales day in US history, with over $3 billion in sales, beating the previous year by about $600 million.
With so much competition to capture these sales, retailers will be struggling with how to attract visitors to their site/store over their competitors. One tactic is to make great use of social media outlets like Pinterest, Twitter, and Facebook with sneak peeks and advertise promotions on the go to create buzz. For example, you could promote hourly deals that your subscribers can take advantage of. Send out an email campaign to advertise the deals and offer additional incentives to those subscribers that re-share the promotional savings. To top it off, you could also give your subscribers more time to cash in on the savings. Consider creating a deal that lasts several days. This email from Threadless advertised Cyber Monday savings into Tuesday. The possibilities are endless: a gift with purchase, free shipping, doorbuster campaigns, mystery savings, and more!
Strategy 3: Making Your Mobile Experience Simple
Mobile retailing continues to grow as more and more consumers rely on their smartphones and tablets to research, browse and purchase products online. Last year online retailers saw a 65% increase in purchases made from a mobile device. However, the shopping cart can be easily abandoned if the experience is not up to par.
Have you tested the shopping experience on your mobile app? How seamless is it? Is it intuitive? Put a focus group together to make sure your mobile strategy is ready to go. Simply removing a step in the shopping cart or changing the color of a button can make all the difference to your final sales.
Bonus Tip: Creating the Best Phone Experience
If there’s an issue online or in-store, consumers will likely phone your call center to find a resolution. What this could mean is an influx of calls coming in during the shopping season. A spike in call volume will lead to an increase in hold-time, and of course more abandoned calls. This is something you could also plan for ahead of time! Consider using a call-back solution to ensure that customers don’t have to wait on hold during this busy time of the year.