The holiday season is the happiest, craziest, busiest, most profitable time of year for ecommerce retailers. Overall, holiday sales represent about 20% of annual retail sales annually, but the figure can be as high as 30% for retailers in the hobby, toy and game industry.
Unfortunately, the rush of the holiday season is often followed by a sales slump that comes at the beginning of January. During this slump, sales are slow and returns are high as the excitement of the holiday rush fades away. As a result, retailers often find worry setting in as revenue drops.
Luckily, the new year sales slump doesn’t have to be a reality for your store. There are strategies for scaling sales and driving revenue during this period. Minimize the post-holiday dip in ecommerce sales and keep new sales coming in with the following strategic ecommerce marketing tactics.
Leverage New Year Resolutions
The new year brings with it driven, motivated people who are excited to fulfill their new year resolutions. Whether their goals are weight loss or improved health, organization, and productivity, personal development, career advancement, or home improvement, they’re on a mission and they need tools and supplies.
Leverage the power of social media by creating campaigns that tie your post-holiday ecommerce sales to new year resolutions. Run integrated email campaigns that target segments that have bought from you before.
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Travel brands promote post-holiday sales by aligning content with consumers’ resolutions concerning discovery. As individuals begin to look towards their 2020 goals, it’s your job to make sure you get out in front of them, staying top of mind and bottom of funnel.
The opportunities are limitless and allow you to connect with your consumers in a way you can’t during other times of the year. Once you’ve connected with them, it’s much easier to drive sales.
Release A New Product
There’s no better way to bring back customers for more, than by releasing a brand new product that wasn’t available during the holiday season. This strategy not only helps drive sales, but it also brings with it increased engagement and brand reach.
LEGO is brilliant at this strategy. Every year, LEGO cleans house with their holiday sales. Then, in the new year, they release a new modular building (priced in the hundreds of dollars) and brand new LEGO sets that weren’t available before. Naturally, along with the new product release, comes another flood of sales from LEGO fans and collectors.
New products are also an excellent way of repositioning your brand during the new year. Tying those products into New Year resolutions and New Year themes allows your store to show distinction in your market.
Launch A New Sale
Discounts, sales, special offers, promotions, and coupons motivate people to buy no matter what the time of year. Usually, regardless of how much they have already bought. This means that just as the holiday sales are ending, new sales need to be launched to keep the momentum going.
Post-holiday sales not only entice those making returns to make new purchases, but bring back past customers and tempt new ones. This can include products that consumers saved for later during the holiday spending frenzy.
Not sure what type of post-holiday ecommerce sale to offer? Consider offering a free gift with purchase or hosting a clearance blow-out sale.
Market To Your Email List
While social media may be the hottest marketing tool available, email is showing no signs of going away. Not only is email the first place 58% of individuals check every day, but it also has a conversion rate of 6.05% versus just 1.9% for social media.
Email marketing, which your customers and prospective customers have opted in for, can boost post-holiday ecommerce sales and stabilize ecommerce income. Roughly one in three US retail email list subscribers have purchased something from a brand whose emails they receive. And that’s not all, consumers, on average, spend 138% more when marketed to through email, as compared to those who do not receive email offers.
By marketing to core email segments during this holiday period, you’re able to secure low-hanging business. Email marketing, when done effectively, keeps your business top of mind and ensures that as soon as consumers start looking to make purchases, you’ll be there.
Bottom Line: Show Up
After the holiday rush is over, you may be exhausted and tempted to take a break and enjoy the slow-down that happens in January. Don’t give in. One of the biggest mistakes ecommerce stores can make is to go dark in January because it is difficult to get revenue back to where it needs after it has dropped for too long.
Instead, show up, show off, been seen, and speak up. When other retailers take a break, launch a new product, kick off a new marketing campaign, and host a new sale. When other retailers focus on restocking inventory, host a clearance sale to clear out the rest of yours.
If you can do that, you’ll kick off the new year ahead of the competition and set the stage to have your best year ever. And, if you want an ecommerce partner whose got your back no matter what, Hostdedi is here to help. Hostdedi managed ecommerce solutions come with bundled plugins and optimizations to ensure your business is targeting the right consumers with the right experience.
Learn more about managed ecommerce and get started with WooCommerce.