How To Increase Last Minute Holiday Sales

It's true that holiday shopping began much earlier this year than usual. And it's expected to be a record year despite the ongoing COVID restrictions. In fact, recent estimations from Deloitte put total holiday sales at $1.28 to $1.3 trillion. E-commerce sales continue to grow like wildfire. The same Deloitte study reveals that e-commerce sales will account for $210 to $218 billion of the total holiday sales. But even though shopping began early, those estimates were only considering the months from November to January 2021.

There's still time to capitalize on those last-minute holiday sales.

Even with all the early shopping, consumers are procrastinators. People will always indulge in last-minute purchasing. Whether they’re hoping for that final blow out deal or waiting for one more paycheck, there will always be that last-minute rush to buy. And that means a sweet, final influx of sales profits.

So how can you capture a share of all those sales and capitalize on last-minute purchases? Here are a few easily implemented strategies that are sure to help you capture your share of those last-minute billions.

Tips to help increase last minute holiday sales

Last minute website updates

A site crash can cost businesses tens of thousands of dollars, more depending on how long the site is down. Now is a good time to revisit your hosting plan to make sure it can handle the excess traffic. Your plan should be able to accommodate your highest estimated peak traffic, and then a bit more for good measure.

Merchants should also investigate and address any site speed issues prior to the crunch. It's pretty common knowledge that people are impatient when shopping at online sites. But it has also been proven. A recent study found that 40% of website users will leave a website that takes more than 3 seconds to load. This could result in a significant loss in valued customers.
Do we even need to mention mobile-friendly?

Reach out to your loyal followers

Send a holiday message to your subscribers, loyalty members and social media followers. Remind them you have the perfect last-minute gifts for their loved ones. This is a perfect time to include a members-only discount, coupon, or bonus item included with purchase.

Create A “Timely” Social Media Campaign

Create a campaign focused on “Last-Minute Gifts”. Encourage followers to “get it done” and save money while they do it. What better way to get the message out than through social media? Whether you make it a flash sale or make it available all the way to Christmas, Social Media is a great way to drive sales.

The beauty of social media is that it is, by nature, viral. When you create a campaign for your followers, it will inevitably get around to new customers who don’t (yet) follow you. Not only will this increase sales, it'll most likely increase your followers too. Are you already thinking about your next sale and campaign? It's a beautiful cycle.

Create Gift Idea Collections

Remember, last-minute shoppers are usually desperate and in a hurry. When you create collections of your most giftable items, separated into categories, you make it easier on them. Use navigation buttons on your website to direct them right to where they can find what they want. In brick and mortar stores, use festive signage and put those right front and center. Make sure to also suggest additional items that pair well with the ones you’re showcasing. This can also help to encourage spur-of-the-moment purchases and increase your average order value.

Problem: Last minute gift
Answer: Gift Cards!

We are strong advocates for store-branded gift cards for our merchants. For one thing, gift cards are the go-to present for consumers who don't have time to shop. They are also the preferred gift for both Gen Z and younger Millennials. But also, because they are more personal than the standard Visa gift card.
Store branded gift cards allow the giver to be a bit more personal with their purchase. And they have the potential of introducing a whole new slew of consumers to your products. It's a win-win. There are just so many benefits for merchants who sell their own store-branded gift cards to list here.

If you don't have a store-branded gift card program, there's no better time to get one going. Even if it's too late for this holiday season, gift cards are a popular choice for holidays all year round. And it really doesn't take all that much time to get a program up and running. Don’t forget, it's easy to offer E-Gift cards as well as a print at home option.

Offer Gift Wrapping Options

For retail outlets, this is a no-brainer. Consumers want convenience. And what's more convenient than buying a gift and having it already wrapped? Services can even be structured in ways that help to increase sales. For instance, stores can offer the service for a nominal fee or offer free giftwrapping for purchases over a certain dollar amount. And if you offer BOPIS, you’ll have a little flexibility with making time to do the wrapping.

Gift wrapping can work for e-commerce stores too, depending on the setup. Just keep in mind that we’re already experiencing shipping woes. If adding gift wrapping significantly increases your fulfillment to delivery time, it may not be worth it.

Offer Free Delivery

Shipping is a point of contention for everyone. And not just during the holidays, but anytime during the year. Consumers want free delivery. There's just no better way to say it. And they’ll even choose one store over another to get it. But merchants need to watch their profits too.

One way to join the club is to offer free delivery for all orders over a specific dollar amount. This is a great way to entice buyers to pick up something they didn't come for.This is also a great way to encourage repeat business. As consumers peruse your site for additional items, they may find things they’ll come back for after the holidays.

You could also create a fun “procrastinator's special”. Offer free shipping to all orders placed in the week immediately prior to Christmas. Just don’t promise on-time delivery!

Address all friction at checkout and shopping cart abandonment.

It doesn't matter how many last-minute shoppers you get if they abandon their cart before purchase. There are several common things that turn consumers off, add friction, and contribute to shopping cart abandonment. And most of them are things that can be changed. Let’s touch on a few:

Excessive shipping costs

We’ve already pointed out that consumers want free shipping. But studies show that shipping costs are one of the leading causes of cart abandonment. Consumers don’t often consider the extra cost when considering the cost of the item. At checkout, they get sticker shock and walk away from the purchase to look for the item elsewhere.

Unsavory Refund and Return Policies

Giving gifts is stressful. What if it's not right, it doesn't fit, or they don't like it. Consumers are often buying items and then shipping them to loved ones, which eats up extra time. Customers need to feel like they have options. If your return policy won’t allow for the extra time needed, they may get stuck with an item they don't want.

Merchants also need to be generous with their refund policies. Extending your refund time limits, offering in-store credit in addition to full refund helps put customers at ease. Remember, you're not just looking for this sale, you're hoping for repeat customers.

Complicated checkout process

Anything that causes friction right when people are trying to buy can cause them to walk away. And a complicated checkout process is another one of the top reasons for shopping cart abandonment. This can be anything from distrust in site security, to lack of full cost disclosure, to having to create an account.
 
To reduce this friction, try to streamline the checkout process as much as possible. Build trust throughout the shopping experience by having a secured website. And by displaying “trust symbols” throughout the buyer’s journey. Trust symbols include security symbols such as VeriSign, Norton and TRUSTe. Consumers also view the BBB as a sign of good standing.

During checkout, only include steps that are absolutely necessary. And display a progress bar, so customers know where they're at in the process. Make sure to include a “review purchase” page before they have to enter payment information. Remember that one of the main reasons for abandonment is being unsure of total costs. Consumers are afraid of entering payment information before they're totally sure of the purchase.
 
Offer “guest checkout”. Of course, you want customers to create an account and data is very valuable. But not if they walk away from the purchase. And you can always encourage them to create an account later when they become a loyal, repeat customer.

Lastly, and one that is dear to our hearts, offer multiple ways to pay. Consumers want to pay the way they want. Multiple payment options allow people more flexibility with their payment method of choice. Most businesses accept debit and credit card payments. But you may also want to consider offering ACH payments, buy-now-pay-later, financing options such as AfterPay, and PayPal. And if it fits your business model, it may even be time to start accepting Bitcoin payments.

Maximize your Merchant Service Provider to support your own business success

At MonerePay, we do merchant service differently. Our goal is to elevate the merchant services experience. We do this by enhancing and improving the principal way processors and businesses work together.
We support your success and growth by taking a consultative approach to merchant services. By working closely together, we can curate a solution tailored to your specific business needs. And we back it up with superior customer service, not often found in the industry.
To find out how partnering with MonerePay for your merchant services will benefit your business, call us today. Our ETA-Certified Payments Professionals are eager to help.