Holidays are that time of the year when stores are overflowing with customers. Since the past few years, holidays have become synonymous to high sales of different products through the ecommerce stores. While most would think the holiday season to be concentrated to just the months of December, the increase in the online sales is generally witnessed before the onset of Halloween. Thus for online stores, it is the Halloween that marks the beginning of the holiday season. Thus creating a business plan should begin since the onset of Halloween itself for small businesses.
The holiday season is when consumers are ready to buy anything that catches their fancy at any price. Creating a business plan that serves the best purpose for the audience and the business owners is essential at this stage. Thus this is the best time for small businesses and startups to optimise their businesses. According to studies bynrf.com the average spending over online shopping will be over $800 per person. It is expected to be around $806 as compared to $802 in 2014. Almost 50% of the shoppers tend to make their purchase through online stores. Out of this around 21% of the online shoppers shop from their smartphones and other mobile devices. The data show how online stores have been monetizing during the holiday season.
This has been greatly beneficial for retail growth. The consumers are happy with the promotional offerings by retailers during the holiday season. This has been the prime reason why retailers have hugely benefited during the holiday season. Sales data show that the spending on ecommerce sites has been increasing each year. According to kissmetrics, the holiday season alone contributes to over 15% of the total sales for the year. Some retailers have also witnessed a sale of nearly 71% during the holiday season.
Clearly, the holiday seasons are the points of highest spending by consumers in the online stores. Many retailers and small businesses have heavily monetised from this holiday season. Creating a business plan to optimise your business during the holidays needs you to promote your business in the best way possible.
While creating a business plan, the retailers offer a boost to the business during the holiday season by offering discounts on various products.
Discounts are the most common form of promotional elements used by retailers. While this may be a factor for attracting audience, discounts often tend to distract the audience from the real product. It may also result in your loosing prospective customers from your business.
However, during the holiday season, it has become customary for the audience to expect attractive discount offers on different products. Research shows that marketing emails with subject lines consisting of discount or special price offers tend to be read more by the audience than a simple marketing mail.
Discount offers are also a great way to attract new audience. Discount offers tend to pull around 85% of your target audience to sign up for your newsletter. With the holiday season being the best time to optimize your business while you are creating a business plan ensure that discounts form a part of your business plan.
You can offer higher discounts or free product to your old customers. This can often be a great way to generate new leads for your business. Rewarding loyal customers almost always generates new audience through word of mouth promotion. Holiday shoppers tend to start shopping quite early. Thus it is advisable to open up your discount offers early during the holiday season to give you a higher chance to stay ahead of your competitors.
Shipping has often been a prime factor that leads to customers opting for a certain ecommerce store over other ecommerce stores. Studies conducted by Deloitte suggests that free shipping pulls over 66% of the target audience to your ecommerce website. Free shipping is often considered as a more important factor than low prices or shopping checkout process. Thus the offer of free shipping is an attractive element that can be used while creating a business plan.
Study by Google search engine itself suggested that over 79% of online consumers would not make a purchase from a site that does not offer free shipping. These data are enough evidence of the fact that free shipping becomes an inextricable part of online businesses.
When asked to consumers about free shipping and other options, most consumers wanted a better and improved shipping procedure with free shipping from their favourite retailers. Lowering the cost of shipping and a faster shipping service has been the next that consumers wanted.
Thus including the element of free shipping or discounted rates of shipping charges on the purchase of a certain amount while creating a business plan can be great to boost your business during the holiday season.
The minds of consumers are ever-changing. It is up to you as a marketer to decide what to offer and how creating a business plan would help your business prosper in the holiday season.