I have spent the past few months securing your holiday season promotional strategies. The online shopping results during last year’s holiday season – which reached $123.73 billion and grew by 16.6% over the previous year – are a good sign that your sales will rise in the coming months.
Planning for Unexpected Stock-Outs
Retail sales during last holiday season surpassed the trillion-dollar mark, which is encouraging for the upcoming season. But what happens if all your stock runs out unexpectedly? This can be avoided with simple strategies.
Monitoring Inventory Levels
Use tools from your e-commerce platform to track inventory levels during the busy season. Proactively look for seasonal trends in your inventory history to protect yourself from any surprises.
Setting Up Automated Inventory Management Workflows
Monitoring inventory levels can be difficult on high-volume shopping days when your team is busy. This is where e-commerce automation comes in handy. For example, you can automatically remove products from your site to avoid frustrating customers due to stock-outs.
Shipping Like Amazon
When it comes to shipping, customers care about three things: free, fast, and flexible shipping. Make free shipping work for you by setting a threshold that allows you to profit from it. You can also use Shopify shipping scripts to show customers how much more they need to spend to qualify for free shipping.
Providing Timely Delivery Based on Geography
Outsourcing your shipping to a third-party logistics company with a network of fulfillment centers – across the country or the globe – will help you reduce shipping costs and increase profit margins. You’ll also be able to deliver packages faster and alleviate the time and pressure related to managing logistics in-house.
Preparing for Last-Minute Shipping Claims
At this time of year, customers are more likely to abandon their carts if they do not receive their packages on time during the holiday season. Therefore, you should have a solid last-minute shipping plan. There are apps available on the Shopify app store that help you communicate with customers about estimated delivery timings.
Improving Return Processes
After the rush that occurs on Black Friday and Cyber Monday, many shoppers act on impulse purchases. Therefore, receiving a significant number of cancellation and return requests after those sales is inevitable. Thus, it is essential to have a plan in place to improve return processes. You can achieve this by providing specific policies for Black Friday and end-of-sale discounts and investing in automation to handle the high volume of orders.
In short, to achieve high sales growth during the holiday season, you’ll need a strong shipping and fulfillment strategy. Make shipping free even if you have to raise the minimum order value slightly. You can also set affordable flat-rate shipping based on geography. And ensure that packages are delivered quickly and before the deadline. This may mean outsourcing shipping to a logistics partner with a network of fulfillment centers. And don’t forget to make the return process as easy and free as possible. At the very least, ensure that you provide a clear return policy so customers are informed before making impulse purchases.
Source: https://www.shopify.com/enterprise/holiday-shipping-and-fulfillment-strategies
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