Online holiday sales in the USA reached $135.35 billion in 2019 with an average order reached $152.95. It is expected to grow higher this year’s Cyber Monday and continue to play a huge role in the success of holiday shopping.
You might be wondering, are Cyber Monday and Black Friday the same thing? Both are days when huge deals and promotions take place. The answer is no, they are two very different days. Even though they both play the biggest sales day of the year, Cyber Monday is dedicated to online shopping. It is the time when people return to a high-speed internet connection at work after the Thanksgiving holiday.
We’ve presented you with Black Friday tips for retailers, and if you are looking for ways to make a huge profit for your business on this Cyber Monday, November 30th, let us help you with these 6 fantastic tips.
Optimize your store performance
The first step is to make sure that your technology is ready and able to handle an increase in traffic. You could check by answering some questions
- Is your hardware running smoothly?
- Does your website have any bugs?
- Does your website have a fast page load speed?
- Does your website have a friendly interface?
- Is information like ‘New arrival’ or ‘Sales off’ on your website eye-catching and highlighted?
You wouldn’t want to lose potential customers because your website was down or credit cards couldn’t go through. In order to prevent that, you should take the time to upgrade your system. Test checkout and payment processes, make sure that your website is able to control massive online holiday customers.
Ensure inventory availability
It is usual for businesses to sell faster than usual and unable to meet the demand of customers. Therefore, you need to check in with your suppliers early and ensure that they are prepared for the holiday season. Make sure that your online store is fully stocked, your bestsellers are plenty and always ready to go.
If your POS system has a report producing feature like ConnectPOS, then you would know what popular items to stock up on, what deals and promotions to apply. Find the top-rated POS system for your needs right here at ConnectPOS.
Create smooth and quick delivery
Because of COVID and social distancing rules, retailers should prepare for an increase in online shopping and high demand for shipping. If you do all the shipping by yourself, make sure that you have enough boxes, postage, and other necessary items to quickly and efficiently fulfill orders. If you consider outsourcing, remember to research thoroughly and choose a suitable service for your brand. Ensure that your shipping logistics strategy is ready for increased volume during this Cyber Monday.
Take advantage of loyal customers
It always takes more time and money to acquire new customers than to get loyal customers to come back, especially during the holiday season. Someone who is familiar with your brand is far more likely to make a purchase than someone who is new to your business.
Start offering early-bird deals, pre-order, and other promotions to your VIP customers to make sure that they feel loyal to you. A suggestion for you would be to create discount codes, exclusive online offers, or host in-store events for loyal customers. This is how you build trust and loyalty within your community and strengthen brand appreciation.
Embrace omnichannel experiences
One of the most prominent trends that would affect this year’s holiday sales is omnichannel – which aims for a seamless shopping experience for customers.
Omnichannel shoppers are more likely to make additional purchases and recommend brands to others, so you would want to convert all the potential buyers and gain the highest revenue. That is why you should focus on creating an omnichannel experience by allowing them to use vouchers for online and in-store deals interchangeably.
Ever since the pandemic, options like click-and-collect (BOPIS), curbside pick up, and drive-in are every customers’ go-to shopping choice. With that being said, you shouldn’t miss out on this opportunity this holiday season.
Another major 2020 online shopping trend is the ‘buy now, pay later’ option, which you should also focus on. Customers prefer brands that offer multiple payment options (layaway, split tender). Being able to give them that payment choice would create a seamless shopping experience.
Invest in a POS system that supports click-and-collect and multiple payment features. At ConnectPOS, we integrate with various payment solution providers all around the world like Paypal HERE, Moneris, Tyro; to support you with multiple payment options and help you best utilize click-and-collect for your customers.
By and large
Cyber Monday is one of the busiest shopping days of the year, it is an opportunity for businesses to gain even more profit. We hope that you find our tips helpful. Visit our website for more information on technology tips and event sales strategies. You could also try and make the best of your POS system with a 14-day free trial from ConnectPOS and watch your sales skyrocketed this holiday season.