What are eCommerce sales?
What is the seasonal sale?
4 eCommerce strategies for peak season success
1. Know from previous year’s eCommerce campaigns
2. Personalize your online shopping experience
3. Be proactive in your online store approach
4. Stand out with interactive ads
5. How to measure e-commerce seasonality
“To achieve a steady ROI, a business needs to predict the ‘when’ consistently and ‘how much’ of customer demand to deliver a phenomenal experience” according to Kunal Khullar- a computing writer at Digitaltrends.
There has been remarkable growth in e-commerce, with more people using online platforms to make purchases. However, as with general retailers, e-commerce businesses are also subject to seasonality and influenced by market trends.
What are eCommerce sales?
E-commerce is buying and selling goods and services and transmitting funds or data over an electronic network, primarily the internet.
There are three main types of e-commerce:
- business-to-business (websites such as Shopify),
- business-to-consumer (websites such as Amazon),
- and consumer-to-consumer (websites such as eBay).
What is the seasonal sale?
Seasonal sales refer to any period of the retail fiscal year where a business predictably experiences growth in customer traffic and conversions. This seasonality happens regularly, every year, every quarter, or with other predictably repeatable occasions.
Keep in mind that sales seasonality affects key factors in eCommerce, such as:
- The average shopping cart value
- The traffic received on the website
- The interest rate on products
- Actual purchase intent
- The cost of marketing actions, such as online advertisements
4 eCommerce strategies for peak season success:
1. Know from previous year’s eCommerce campaigns
ECommerce sales accounted for 18% of all retail sales worldwide in 2020.
Notably, due to Covid-19, online shopping has become a regular part of people’s lives in the past year. The global e-commerce growth statistics show that e-commerce sales worldwide amounted to $4.28 trillion in 2020.
It means that companies have done good business. This is the time to take advantage of the previous year’s learnings and use it as the foundation for your seasonal sales eCommerce strategy for the coming years.
2. Personalize your online shopping experience
Personal experience is the one aspect missing from online sales.
80% of the customers now are more likely to purchase from a brand that provides personalized experiences.
Like in a store, where the salesperson knows what a customer is looking at, brands should be capable of providing similar customized services online.
If businesses use Automation in marketing, it will ensure that each visitor gets a distinctive experience that matches where they are in their purchasing journey-
- What page is your visitor on
- Where your visitors are on your page
- Where they came from – so their traffic source or campaign URL
- Which country are they from
- The number of times they have been on your website
- Their shopping basket value
3. Be proactive in your online store approach
Online customer service should not be reactive but also be proactive, like selling in-store. It can be achieved by targeting visitors based on their behavior and actions on your website and approaching them with relevant information.
4. Stand out with interactive ads
For retail businesses, peak seasonal sales are one of the most competitive times for advertising. Avoid banner blindness and promote your campaigns across paid channels with rich media ads. Interactive ads permit brands to provide unique ad experiences that grow conversion rates.
5. How to measure e-commerce seasonality
There are numerous KPIs for an e-commerce site to track. This help to determine how well the e-commerce store is operating, enhancement in user experience, and how to make improvements, marketing efforts, customer satisfaction, and more. However, these three measurements are vital when measuring the success of your e-commerce business about seasonality.
- Accuracy in inventory
This KPI measures how precise your inventory level is on your physical inventory as compared to on software.
Too less inventory can result in your e-commerce business struggling to fulfill and send out orders. This scenario would be terrible during an e-commerce business’s peak season.
- Peak Order Rate
It measures the number of orders that leave your business’s warehouse and are delivered to the customer. A warehouse management system can help reduce imperfect demands and alert you before they are distributed to the customer.
- Return Rate
As the name suggests, this KPI measure will calculate the volume of customer orders sent back to you.
These measures will highlight whether there is an issue with your business’s supply chain. High rates of return are a terrible signal. They could indicate several potential problems such as damages, whether there are issues within your supply chain, causes for returns, and late deliveries.
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References-
https://www.giosg.com/blog/ecommerce-strategy-for-peak-season
https://marmeto.com/blogs/e-commerce/ecommerce-sales-tips-harnessing-the-power-of-seasonal-sales
