The immense e-commerce success of the holiday shopping season is so last year. Now online merchants need to navigate January’s retail hangover.
This year, with holiday spending significantly up from previous years, January and February spending is projected to drop more drastically in contrast. "Now that those credit card bills are hitting mailboxes, shoppers will cut back in a very significant way relative to [the] January and February of the last few years," says a DailyFinance article, quoting Britt Beemer, group chairman of America's Research Group, in a statement.
Add to that the overall state of the economy, regardless of any holiday binging, and consumer spending is expected to be tepid, says a New York Times article. “Consumer spending makes up 70 percent of the economy, so until it ignites, general growth is likely to be sluggish,” it reads.
So what can online retailers do to come out on top during a typically slow time of the year that might be slower than normal? We at Blueport suggest you try one or more of these ideas:
Sell More with Volume Discounts
Steep price cuts can be detrimental to your retail business, especially long-term. Instead, work to increase average sales by offering volume or tiered discounts.
Focus on Customer Service and Value
Don’t allow your e-commerce business, whether big-ticket or not, to become solely commodity-driven. Zappos.com, for example, may not always offer the cheapest price, but the value that comes from the e-retailer’s brand, policies and customer service make it a destination for consumers. What can you do or offer to make your e-commerce website more valuable than your competitors’?
Spend Time on Social Media
Building your social media presence can be time-consuming, but it can also be an invaluable investment. Take the time now to create your social media brand. Try out special offers for your Facebook fans and test new ideas in this realm. See if allowing fans to vote on deals and other social initiatives can incrementally boost sales.
Expand Your Email List
Reaching out to more consumers now will help your e-commerce brand be poised to sell when they are ready to buy. Are you doing everything you can to grow this list of names? Is there an incentive or contest you could offer? Also, consider the types of messaging you might be able to deliver during this shopping downtime. Mix in some informative content that would be worthy of sending to a friend to extend your efforts.
Don’t Forget Your Recent Customers
Reach out to customers who have bought from your e-commerce website to encourage them to write reviews of their purchases. Any incentive you offer will be worth it -- this user-generated content will help create a strong, interactive e-commerce website to convert future customers.
Related posts:
Copyright 2010, Official Blog of Blueport Commerce
This year, with holiday spending significantly up from previous years, January and February spending is projected to drop more drastically in contrast. "Now that those credit card bills are hitting mailboxes, shoppers will cut back in a very significant way relative to [the] January and February of the last few years," says a DailyFinance article, quoting Britt Beemer, group chairman of America's Research Group, in a statement.
Add to that the overall state of the economy, regardless of any holiday binging, and consumer spending is expected to be tepid, says a New York Times article. “Consumer spending makes up 70 percent of the economy, so until it ignites, general growth is likely to be sluggish,” it reads.
So what can online retailers do to come out on top during a typically slow time of the year that might be slower than normal? We at Blueport suggest you try one or more of these ideas:
Sell More with Volume Discounts
Steep price cuts can be detrimental to your retail business, especially long-term. Instead, work to increase average sales by offering volume or tiered discounts.
Focus on Customer Service and Value
Don’t allow your e-commerce business, whether big-ticket or not, to become solely commodity-driven. Zappos.com, for example, may not always offer the cheapest price, but the value that comes from the e-retailer’s brand, policies and customer service make it a destination for consumers. What can you do or offer to make your e-commerce website more valuable than your competitors’?
Spend Time on Social Media
Building your social media presence can be time-consuming, but it can also be an invaluable investment. Take the time now to create your social media brand. Try out special offers for your Facebook fans and test new ideas in this realm. See if allowing fans to vote on deals and other social initiatives can incrementally boost sales.
Expand Your Email List
Reaching out to more consumers now will help your e-commerce brand be poised to sell when they are ready to buy. Are you doing everything you can to grow this list of names? Is there an incentive or contest you could offer? Also, consider the types of messaging you might be able to deliver during this shopping downtime. Mix in some informative content that would be worthy of sending to a friend to extend your efforts.
Don’t Forget Your Recent Customers
Reach out to customers who have bought from your e-commerce website to encourage them to write reviews of their purchases. Any incentive you offer will be worth it -- this user-generated content will help create a strong, interactive e-commerce website to convert future customers.
Related posts:
- 3 Key E-Commerce Trends to Watch in 2012
- Thanksgiving, Black Friday, Cyber Monday -- How Did E-Commerce Do?
- The Economy May Be Looking Down, But E-Commerce Sales Keep Looking Up
- Engaging Site Visitors Through Email
- It's Not Always About Price...
Copyright 2010, Official Blog of Blueport Commerce
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