November 29, 2011

In the United States, the Monday after the holiday Thanksgiving represents a huge shopping day.  Prior to the Internet, the single biggest sales day for American businesses was the Friday after the Thursday of the holiday.  Now, online businesses enjoy the benefits of Cyber Monday.  The black Friday sales that businesses offered mainly to American consumers can now be expanded to additional audiences.  Consumers do not make the same distinctions when purchasing online, after all, you do not need to worry about transportation back and forth when purchasing online.  The location of seller only matters with regards to shipping times.  As long as the item can arrive timely for the holidays, it does not matter where the retailer is physically located.  Below are some strategies you can use to improve your year end sales figures by being competitive on Cyber Monday.

Holiday Profits are all about Sales Figures

You are looking to sell more units at lower cost to you than ever, and the consumer wants to buy at the lowest cost available.  Consumers are often price driven when they are shopping online.  The best way to get the maximum number of sales on a unit is to offer the lowest price.  You can not do this with every item in your online store, but strategic popular item discounts can help you leverage additional sales.  The direct sale of a deeply discounted item may not earn you much, if any profits, but the additional accessory sales can be highly profitable.  Do not be afraid to offer deep discounts on a limited number of products, it can help bring people onto your site.

Up Sells are the Key to High Holiday Profits

The fierce competition on prices and consumers makes it imperative that you offer a few items at the absolute lowest price available.  Sure, you may even take a loss on some items, but the increased web traffic is worth the additional cost.  After all, you will only have so many units in stock at the designated low price.  After the site traffic picks up, you will need creative upsells and alternatives to keep consumers coming back to your site.  Electronics are usually the big ticket discount item, but consider potential accessory gifts that can help you turn a tidy profit.  With television sales, wireless noise cancelling headphones make a great gift accessory.  Small electronics often do better when purchased in conjunction with a case, and portable electronics might benefit from a tag to help find the device at all times.  Carefully implement creative upsells, to get the largest return on your holiday sales.




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