2019 holiday shopping is getting into full swing. You know it’s make or break time for the year. In fact, most retailers bring in an average of 38% of their annual sales in just these few short weeks – even shorter this year with Black Friday falling on November 29 and Cyber Monday in December.
Looking at this year’s outlook, retail sales are expected to increase between 3.8% and 4.2% over 2018 (National Retail Federation). That means an average of $1,047 per shopper. Just looking at online sales, the NRF expects sales to increase between 11% and 14%. The potential is huge.
Can you afford to miss out? It’s not too late to make a few changes that put you at the top and of these growth averages. Splitit can help you make every one of these holiday shopping days count!
The secret is to PROMOTE, OPTIMIZE, and CONVERT – here’s how.
Promote:
- Start your promotions and outreach earlier this year. It is common to start your Black Friday promotions the Monday before
- Develop a gift guide to help your shoppers pick something lovely with ease
- Make all your days count with well-developed campaigns and messaging to your customers
- Keep the messaging and promotion consistent across all your marketing and selling channels
Did you know? Retailers see the highest conversion rates on Cyber Tuesday. They top Cyber Monday by 13%. Consider running a campaign promoting your favorite installment payment partner Splitit to see a lift in conversion rate and AOV for the day!
Optimize:
- Segment mobile users to create personalized messaging
- Optimize mobile shopping paths to allow for the quickest path to your product
- Dress up your shopping path to inspire the holiday spirit. Boost Average Order Value by as much as 20% by adding Splitit holiday banners to your site with low installment payments!
Did you know? Smartphones will account for over 60% of holiday weekend traffic and approximately 50% of weekend sales [2018 eMarketer]. According to Google, over 50% of visitors will leave a mobile site if it takes longer than 3 seconds to load. Don’t let something as basic as site speed slow down your sales
Put mobile first in all of your plans.
Convert:
- Promote the UX of your onsite search tool as shoppers covert 5x more with the use of search functionality. Regularly audit the most used search terms to ensure your results are optimized and heavily searched terms are being called out on the home page for ease of navigating to
- Optimize your checkout process to be as frictionless as possible. Keep the installment offer present on each page of the shopping path. Reduce the noise by eliminating fields in the address form that you don’t need. Show your accepted credit card logos next to your payment types so your shoppers don’t need to go looking for what credit card they can use with Splitit or any other payment method
Did you know? You can get shoppers back if they abandon their carts. Try emails triggered within a 2-hour window after abandonment. Bring them right back to their cart to start the checkout process, and even better, entice them to come back and convert by talking about the no application/no fee installment plan you offer with Splitit!
Don’t worry, you’ve got this! Our best wishes for a top performing holiday season!
Cheers!
Your partners at Splitit