Online retailers and eCommerce stores typically see sales jump over the holiday season. Nonetheless, afterward, the buying fever subsides, and it’s not just your imagination. According to INC, February is among the slowest months for business in the United States.
If you want to avoid the post-holiday season spending slump, you’ve found the right place. Although maintaining the December sales trend throughout the year is tough, there are techniques to prevent crashing and burning in January. Here at FenixCommerce, we’ve curated a list of effective strategies to continue driving sales higher to beat the post-holiday season slump.
1. A New Years Deal
There’s a good chance you’ve given a coupon, promotion, or even a free product to a customer in the last few months; however, it may be time to do it again. Due to the deals and discounts that brands give over the holiday season, internet buyers spend more than usual.
However, after spending so much money, buyers are less likely to want to buy anything after the holiday season, let alone at full price. While using discounts and incentives increases the likelihood of customers returning and purchasing, it’s understandable how this can hurt profit margins in the long run.
Fortunately, you don’t have to offer a complete sale or discount to entice customers to look your way.
- Stale Inventory: Whether you have inventory that didn’t sell or some units that may have been miscounted, label it at a heavy discount.
- Bulk Discounts: For the “Best Seller” that unfortunately ended up not selling, set up a bulk discount deal offering a percentage off if customers buy 3 units or more at once, for example. Or a free item if a certain number of units is purchased.
- BOGO: You may have some customers who forgot to get gifts altogether, or just want to start off the New Year shopping with you, you don’t want to neglect them or any deals either. Instead you can offer a “Buy One Get One Free” deal for…
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