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Halloween is officially away, how has your business been for the first month of this Q4? If not so ideal, no worries, today we’ll talk about 3 good strategies that are gonna help you gain more profit in the holiday season of 2022, and if you can apply them all into practice, just trust that the result won’t let you down. Now let’s dive into today’s content right away.
No.1 Prepare Product Bundles
A product bundle is a kind of ‘pairing’ that seems to be the most appropriate holiday selling strategy you should take.
Not just create bundles and gift sets that will boost your sales, but also remember to add some attempting titles to them, such as ‘Best Christmas Morning Jammies’, ‘Cozy Winter Scent’, etc. I’m just making up gibberish here, but the magical power of great product names, if you know you know.
Besides, when you create gift bundles available during the holidays, you’re offering a win-win situation. It benefits you because you will sell more than a single product, while your customer benefits because they have one less decision to make. Many of your customers will be busy during the holidays. Every decision takes time, and most of your customers will be happy to offload some of these decisions by just sending out a gift basket that’s already selected.
Not to mention, if the price of the bundle is lower than buying everything separately – your customers will also benefit by saving money. Shoppers love a good discount, even a little bit of savings can motivate action.
While you may not have as high of a profit margin on gift bundles, you’ll be more likely to sell more of them, which is another win for you!
No.2 Discount for the 2nd Recommended Item
Let’s imagine, after you buy a product at a discounted price and you are offered another discount when buying a second one. This is the concept of successful up-sell and cross-sell.
For example, when a customer buys a pair of slippers from your site for a 20% discount, a pop-up appears and offers them a pair of socks at a 50% discount. In reality, the socks are actually not much value, but it makes the customers feel that they are having a really good bargain, and so they are more likely to pay for the recommended item.
There’s something we should keep in mind about this marketing idea:
First, the second item better is relevant, or a part of the first item, for example, recommend shoelaces for shoes, pencil for pencil case.
Secondly, it should be cheaper than the first item. So your customer won’t have too much hesitation, instead, they’ll just feel like getting an essential supplement at a discount without paying extra for the shipping is an absolutely good deal.
No.3 Offer Free Shipping & Returns
Free shipping is an impulse for 93% of online shoppers to buy more.
One of the few things you have to try is to increase the chances of converting holiday shoppers by offering free shipping during the holiday season, especially if your store normally does not offer this deal.
If your store visitors have a choice between a store selling similar products that offers free shipping while yours doesn’t, they’re likely to pick the option with free shipping, so don’t let your competition get outmaneuvered here.
An extra tip: normally it can be unprofitable to offer free shipping for all orders. In this case, a free shipping threshold is gonna be very helpful, just set a minimum order amount for the bonus of free shipping, and you might even gain more sales for doing so.
Not just free shipping, consider adding free returns to your Q4 strategy list, as your customers may worry about whether a certain product is a right choice or the suitable one. What color should they pick? Will their friends even like this gift?
And the more they worry, the less likely they are to buy. So just remove the risk factor from their purchase by allowing them to return the item for free.
It’s up to you if you want to offer exchanges or full refunds, but in either case, your customer knows they will have options if they don’t like the gift or prefer a different variation of the same item. And what triggers the purchase is not the actual return nor refund, but knowing that they’ll always have the option, like a safety net.
Takeaway
Q4 is always the hot season for any kind of business, especially online stores, if you can grab the chance and hop on board in time, the result might surprise you. Choose the right product today and take your business soar in the sky!
