2014 Holiday Season Is On Its Way
The holiday season is on its way and it is time when retailers, both online and brick and mortar stores can make a lot of profit. Consumers are found to be ready to purchase online during this season, to gift their friends and family. Thus, it is time for the online retailers to plan out what tactics to be applied during the holiday season to improve sales.
There are a lot of pure-play online stores with no brick and mortar stores. Such stores need to strategize their plans for better prospects during the season. Here, we will be focusing on some of the important aspects of your business that must be considered before planning your holiday season sales and promotions.
- Website improvements and tools
All these four aspects require a lot of consideration, planning and time as these are the main drivers of any business. Thus, planning in advance makes sure that you have enough time to achieve your goals.
For any online eCommerce portal inventory holds the top priority, if you have no inventory you have no sales. Thus, it is the most challenging part of any business. It is best to design a refill model that will have a simple supply chain and that makes sure the inventory availability. Since it takes some time for the suppliers to fulfil the orders, it is always good to start placing holiday orders at least 3 to 4 months earlier.
Also, it is important that you continually review the availability of your inventories, so that you can close down the order for the items that are available in bulk or order more of those items that have shown a continuous reduction in the quantity. This will help you to maintain your desired inventory availability and increase cash flow. This will also help you to better invest in more inventories and activities.
Remember that introduction of new product during the holiday season works best. As this takes a longer time to decide and develop such plans should be started right away as this is an important step for your business growth.
Starting to plan early for your holiday promotions will help your team to utilize a lot of time to create innovative promotions and to design the required tools to make these promotions a great success. Again, planning promotions in the third quarter of the year allow you to have different promotional ideas, test them and also redesign the pay-per-click ads that were earlier not giving good ROI. The tests will help you to find out how to spend more efficiently.
Website Improvements and Tools
Since it takes a good amount of time to make technological improvements and tests, it is always good to start early. It should be planned early in the year. Simple improvements can be made quickly, but the big ones require some amount of investment, planning, testing, and time. It is important to have an official code freeze, during which no changes in the codes will take place. This ensures that there will be no problem during the holiday season. It is also good to freeze the internal technology changes earlier prior to this season.
Every organization is complete only when it has a collection of good employees. Your business, thus needs to be staffed sufficiently and that too with the right people. Overlooking the importance of a supportive culture in the business will create an inability to deliver the customers’ demands by the team on time. Most eCommerce merchants focus on offering a high degree of customer service and unmatched customer experience. To achieve this, you need to plan and build certain systems and tools that will support your goal, and also a commitment from your employees that they will take care of customers.
All these factors play a big part in making the holiday season a big success for your business. Make sure you start all of them early enough so that it doesn’t hinder your path towards becoming a successful eCommerce retailer.
So start planning today itself, it is already time. Your competitors might have already planned it out....
In case of any issues feel free to communicate us.
[We are Connecting Dots, a full service eCommerce solutions company. At Connecting Dots, we help companies build great online businesses, we are Magento implementation partners and build great eCommerce portals]