Posted by Laura Hills, VP of Marketing, Dydacomp
Based on the results this holiday season, shoppers are spending significantly more online than ever before. According to comScore, holiday sales from November to December reached $42.3 billion, a 14% increase over 2011. And the biggest single online shopping day was Cyber Monday with over $1.4 billion spent, marking a 17% increase over 2011. The biggest percentage increase came on Free Shipping Day. Spending jumped by 76% over the previous year, bringing in over $1 billion dollars.
The dramatic increase of purchases on Free Shipping Day highlights the importance of this incentive in your overall strategy to drive new sales. Free shipping is one of the most effective promotions you can offer. By coupling it with a minimum purchase amount, you can increase the conversion rate while driving up the average order size.
Another step to increase your sales in 2013 is to enter new marketplaces. This includes Amazon Marketplace and eBay, enabling you to target millions of potential new customers. The key to this is to be able to manage your inventory and order processing across channels. For example, if a product is ordered through Amazon, it should be removed from the existing inventory available in your eCommerce store. The best way to ensure accurate inventory is to use an order management solution that is integrated across channels.
In addition, you have to be able to effectively target your existing customer base with new promotions. You need to segment your customers by such categories as products they purchased, birthdays, anniversaries, geography, and more so you can reach the right people with the right message. We have more tips and tricks to offer for growing your business in 2013 during our webinar on January 24th at 2:00PM ET. Click here to learn more and register.