For many online retailers, the month of January is a slow one. Between consumers paying off Christmas purchases and those taking time to relax, the remaining online shoppers are seeking good deals on accessories and hoping to take advantage of clearance sales.
There are ways, however, to cash in this January.
7 Revenue Ideas for January
Emphasize accessories. Spotlight sales on accessory items. For example, a site that sells gaming supplies would feature discounts on extra controllers, storage cases and games. A site selling tablets might feature protective gear and screen protectors.
Offer free shipping. People are looking for deals, and zero shipping costs remain a motivating factor.
Offer volume discounts. For items consumers might buy in multiples, offer tier-level discounts. This can prompt shoppers to buy ahead either for themselves or to give as future gifts.
Sell grouped items. For accessory items, or items that need to be cleared out, offering a “package” at a steeper discount can help deplete inventory.
Offer stock-up sales. If applicable, create a “stock up for next Christmas” section. Each January I shop Yankee Candle for the next holiday season. I save upwards of 40 percent on retired candle accessories.
- Sell on eBay. Despite additional fees, millions of consumers will shop on the popular auction site to redeem eBay gift certificates and to find good prices on accessories. A decent percentage of these folk will not navigate elsewhere, nor will they rely on search engines to locate desired items. The advantage? You increase visibility and, via packing slips and order inserts, can invite the consumer to visit your store directly in the future.
- Offer a free gift with purchase. It can be an accessory based on what’s being purchased, or a general item. Either way, the word “free” always piques interest.
Disclosing Your Return Policy
While consumers are more apt to buy sales and clearance items when the return policy still applies, if you will not accept returns or exchanges, be clear about the policy and price items accordingly. Typically, consumers expect rock-bottom pricing for items that are non-returnable.
On a side note, January is also a good time to start drumming up more interest social media outlets and email subscriptions. Post-order follow-up emails should be used to encourage even one-time customers to interact via writing reviews and testimonials, and by posting photos of the products you sell in real environments. The goal? To build a foundation that can be used to convert more shoppers in 2012.