Finally, the holiday buzz is over and little by little we’re getting our eBay Stores back to our everyday selling routine. After preparing special holiday listings, selling like crazy and summing up our holiday revenues, many of us might be left with a decent amount of excess inventory. This may happen either due to gift returns or as a result of over-stocking on products to make sure we didn’t sell out during the holiday rush. At this point, eCommerce businesses owners typically face two options; we either come to terms with the understanding that the holiday high is usually followed by the post-holiday low, OR we decide to become proactive and make some delicious lemonade out of the post-holiday lemons. Personally, we always prefer the latter.
So here are three helpful tips that will help your eBay store overcome the post holiday blues and keep yourself on track:
HELP BUYERS RATIONALIZE THEIR PURCHASES
During the holidays people literally shop ’til they drop and money usually isn’t really an obstacle. However, after the dust settles shoppers start adding up the numbers, realizing the amount of money they spent and adopting a more moderate shopping approach. Interesting enough, January is also the traditional month for self reflecting and coming up with personal New Year’s resolutions. This means buyers will lean towards buying items they feel like they NEED at the expense of buying items they might WANT. Buyers also tend to prioritize much more during this time of year, and may very well postpone or even call off future purchases for the time being. In order to overcome this trend, you need to help your buyers understand your product’s benefits and give them a good reason to make the purchase.
The most popular goals are achieving physical and mental health, spending more quality time with family and friends, improving finances, career and education. Therefore it’s high time to promote some of your leftover products that resonate to these needs, and find products that potentially could. For instance, locate products with time saving qualities such as gadgets and electronics, as well as fitness related items like sports gear and workout outfits. Keep an eye out for products associated with cleaning and organizing such as shelves, storage boxes and cleaning supplies. You should also fish your inventory for family and leisure oriented items such as party games, DIY, self improvement items, toys and home décor.
Keep in mind that the marketplace provides different sales opportunities throughout the year, and as an online business owner you should always prepare yourself in advance and seize the different sales opportunities coming your way. For more ideas you can read and download CampaignGO’s 2016 Retail Calendar which is packed with important dates, seasonal product trends, major events and helpful tips.
Okay, now after locating the right items, a slight tweaking of your listing is probably necessary. Remember, listings’ titles, subtitles and descriptions are your eBay store’s personal search engine optimization domains within eBay. Therefore you should take full advantage and use as many relevant keywords as possible in order to help yourself get noticed. You should edit and re-edit these rubrics every once in a while to suit your specific objective which obviously changes over time, and don’t forget to be creative!
LAUNCH POST-HOLIDAY SALES
Remember, buyers love sales and are always on the lookout for good bargains. The post holiday season is no exception to this rule-of-thumb. After spending a substantial amount of money during the holidays, discounts might give your potential buyers a push in the right direction and help them decide to buy. The sales race isn’t over, on the contrary! Sellers are more eager than ever to overcome the challenging post-holiday sales drought, and therefore are marking listings down left, right and center, and creating all sorts of random markdowns with no clear objective.
That’s definitely NOT the way to go! Be sure to stay in the game and take full advantage of your inventory in order stay competitive. In order to create successful markdowns with added value you need to KNOW YOUR STORE and TAKE CHARGE OF YOUR INVENTORY. This may sound obvious, but we are always astonished to discover how many sellers make essential tactical mistakes that lead them to miss out on amazing sale opportunities. Before launching a markdown map your inventory and decide on the most suitable items for each sale; it’s a great opportunity to put your excess inventory on a markdown and use your holiday leftovers as gateways that lure potential buyers to browse through your store, and check out other products as well. Therefore, by choosing old products and/or large quantity products you can easily capitalize on your slow movers and dead stock. You can also promote new arrivals by creating moderate markdowns which may very well drive much needed traffic to your store. So whether you met your holiday sales objectives or simply want to give your eBay Store an extra new year’s boost, markdowns are the way to go.
We’re here to help. You can easily sort your inventory and launch successful sales in minutes according to your specific store needs via CampaignGO’s Markdown Guru. If you want to learn more about markdowns’ different advantages and purposes or simply get new Sales ideas and strategies you can check out our latest Markdown Sales Guide.
ENGAGE WITH YOUR BUYERS
It’s no secret that satisfied customers are bound to be loyal customers, and your relationship with your buyers requires attention just like any other relationship. There are numerous ways of engaging and triggering activity in your eBay stores. You could create a newsletter with both beneficial content and special offers for your readers; reward your loyal customers with special sale events; and engage with your clientele through social media. Always be on the lookout for relevant online communities and become involved! For instance, if you sell antiques, search for antique-lover groups, if you sell collectibles search for collectors’ groups, and if you sell toys, search for parenting groups. Join these communities, offer their members added value and share your knowledge as well as your service and products.
Having said that, keep in mind that your organic reach can only get you so far, and sometimes even low-cost boosts on social media can go a long way. Target your potential audience through specific parameters such as geographic location, age, gender, interests, and other relevant demographics. There’s no need to be marketing experts because luckily social media sites make advertising a piece of cake! Remember, when business is slow you may be able to count on your “regulars”, so keeping track of your repeat buyers and establishing a relationship with them is definitely the way to go. Soon you will be able to detect and manage these relationships with your loyal eBay customers via CampaignGO’s Repeat Buyer Alert which will inform you each time a repeat buyer comes your way, present all the information you need and enable direct communication with them. You can join our beta tester team by sending us an email to Beta@campaigngo.com.
We hope this short blog post inspired you and gave you helpful ideas to overcome the post-holiday sales blues. Feel free to contact us anytime, and remember – we are all about your success.
Best regards and great sales,
The CampaignGO Team