The term “Cyber Monday” – the first Monday after Black Friday – was first used in 2005 as a way to promote online holiday shopping. It has since become the biggest online shopping day of the year. This year, Cyber Monday is predicted to bring in $12.7 billion in sales, up 35% from last year. In fact, due to the COVID-19 pandemic, it is expected that 9% of all holiday shoppers will be making their first online purchase this year.
Here are four tips to increase revenue on Cyber Monday.
1. Bring Customers to Your Site and Make Your Cyber Monday Promotions Visible
Just because people visit your site on Cyber Monday, it doesn’t mean they know what your sales and promotions are. It’s up to you to let them know. You can make them visible and clear on your homepage with a banner that announces special deals. Tell your customers about your best sales and what they need to know about them. You can also get their attention with a modal or pop-up window. Some online retailers send an email or newsletter to all of their existing customers around Thanksgiving Day, letting them know about upcoming deals. This can be followed up with a second volley on Cyber Monday morning.
2. Create Product Bundles
Promotion of products in bundles is a strategy often overlooked by online retailers, but it can be a great selling method for a number of reasons: 1) improved customer experience, 2) increased average order value, and 3) personalized sales and deals. Bundling also helps you get rid of dead stock because pairing unwanted items with your most popular products makes them seem more desirable. Remember that customers are more likely to purchase bundles if you group products that are often bought together. And if you combine a low-ticket item with a high-ticket item, the cost won’t be much more than the high-ticket item by itself, so customers will feel like they’re getting a real deal. Be sure to highlight the cost savings of buying bundled products.
3. Create Quick Lists of Products by Price Point
When holiday shoppers embark on a shopping expedition, they already have an idea of how much they want to spend on gifts. In fact, price is often among the top criteria as they browse through various products. You can make it easy by creating a gift guide that organizes products according to price – group items for $10, $25, $50, etc. Use your analytics data to find common sales data points. When customers can shop this way, they’ll be more likely to stay on your site to see what else is available within a certain price range.
4. Add an AI Chatbot to your Site to Assist With Customer Support
You might have more visits to your site on Cyber Monday than any other day of the year. That requires a lot of customer support. While your FAQ section will likely take care of most inquiries and concerns, an AI chatbot can be added for the harder questions. Chatbots are cheap, easy to install, answer customers’ questions in real-time, and work 24/7 without a single break. So when shoppers hit your site at 3 a.m. and want immediate answers, you can give them the support and information they want; any delay could mean losing a sale. If you can predict questions and script answers, you’ve got a chatbot that is a fast and efficient part of your customer support team.
The message is clear: This could be the best Cyber Monday ever for online sellers, and they should prepare for a lot of traffic to their sites.
Our recent study with Retail Economics found that 88% of customers plan to make their holiday purchases online globally. With a percentage this high, your business should sell products through at least one online marketplace. The holiday season is quickly approaching, so the sooner you can set up an online marketplace, the better. If you aren’t sure where to begin or are unsure about what an online marketplace is, we’ll get you selling online in no time.
How do online marketplaces work?
Simply put, an online marketplace is a website where merchants can sell their products to customers. Online marketplaces serve as an organized location for shoppers to search for and compare products. Customers can leave reviews and even create carts or wish lists for future purchases. Online marketplaces are becoming increasingly popular because customers can purchase products within a matter of clicks Additionally, some marketplaces offer refurbishment and/or authenticity guarantees, so customers don’t have to worry about buying imitation or faulty products.
What are the biggest online marketplaces?
Marketplaces like eBay and Amazon have become two of the most well-known and most-used online marketplaces. In fact, 42% of Gen Z shoppers and 40% of Millennials say that they use marketplaces for convenience globally. Between easy browsing and an increasing customer base, your business can only benefit from selling online.
The benefits of online selling
We’ve discussed the basics of online marketplaces, but what are some of the biggest benefits? You should consider using online marketplaces because:
North America is projected to have $183 billion in online sales: With sales projected to be this large, your business has a good chance of seeing a boost in sales. Stamps.com integrates with major marketplaces (more on this later), so you can create a centralized workflow and stay organized as your order volume increases.
It puts your products in front of a larger audience: 88% of customers plan to make their holiday purchases online globally. There are a lot of eyes on the ecommerce space, so you have the chance to make your products shine during the holiday season. Also, if you create a great customer experience, it increases the likelihood of repeat business after the holiday season ends.
There’s the opportunity to recommend products for customers: Regulations and guidelines around product suggestions will vary by the marketplace, so we recommend reaching out to your marketplace of choice. However, if your marketplaces allows it, you can recommend products to customers based on their previous purchases from your business. You can also make recommendations on your business’s website for products based on their purchase and browsing history as well as items in their cart.
Marketplaces like Amazon allow customers to choose expedited shipping options as Prime subscribers: Our study found that 61% of global customers are willing to pay up to $9 extra for same-day, next-day, or scheduled shipping. If customers are already Prime users, Amazon will give them expedited shipping options up front that include as a feature with their subscription.
Sending shipment notification emails to customers
15% of the customers we surveyed stated that the visibility of delivery was the most important factor when shopping online, and the merchants we surveyed believe that only 9% of customers care. Providing customers with tracking information can help your business stand out from the competition and better align with customer expectations.
Stamps.com merchants can customize branded ship notification emails for customers. These emails can include sales or promotional materials, your business’s logo and social media links, and other personalized details. Customers can not only track their shipments, but you can promote your business and special deals at the same time.
Connecting online marketplaces with Stamps.com
Once you’ve decided which online marketplace(s) are right for your business, you can connect them to your Stamps.com. Stamps.com offers integrations for major marketplaces like:
Amazon
BigCommerce
eBay
Etsy
Shopify
WooCommerce
Stamps.com directly integrates with these marketplaces, meaning orders in an eligible status will be pulled onto the orders page. You can also check for orders by clicking the refresh button on your dashboard. To connect a new marketplace to your Stamps.com account, follow the instructions below:
Open the Orders tab on your dashboard.
Select the Settings icon.
Click the Stores tab.
Find and select the Add button.
Choose your marketplace from the integration list.
Follow the instructions for connecting your specific marketplace.
Tips for selling through online marketplaces
Online marketplaces don’t have to be complicated or daunting. With direct integrations to Stamps.com and shipping notifications for eligible stores, you can streamline your online selling process. Other tips to keep in mind when selling online are:
Pay close attention to marketplace-specific guidelines and regulations.
Include clear and specific returns information whenever and wherever possible.
Take note of which products sell better than others to help project your holiday inventory.
Use online retail holidays like Prime Days, Black Friday, and Cyber Monday to get rid of products that aren’t selling well or are out of season.
Start your 30-day risk-free trial to Stamps.com today.
As the holiday shopping season quickly approaches, our recent study in partnership with Retail Economics shows that 44% of US customers are still concerned about inflation going into the holiday season. According to our partner, Retail Economics, North American customers will spend $183 billion on holiday shopping through online marketplaces. And your business deserves to be included in those sales! Customer preferences for the holiday shipping season have been made known, and your business still has time to incorporate their feedback before the holiday rush.
Start your holiday preparations early
It may seem early, but 41% of shoppers plan to start their holiday shopping before October. With early bird shopping well underway, your business needs to start holiday preparations as soon as possible. Marketing to early holiday shoppers is beneficial because it not only has the potential to boost current sales, but it also gives your business the opportunity to test marketing strategies. Pay close attention to which coupon codes seem to be redeemed more than others and which items they’re being used for. It’ll come in handy when more customers begin their holiday shopping and during big shopping holidays like Black Friday and Cyber Monday.
If you aren’t sure where or how to begin, we recommend customizing the branded ship notification emails feature within your Stamps.com account. Branded ship notifications let your business add promo materials to shipment confirmation emails. Adding exclusive sales to reward early shoppers increases the likelihood of a repeat customer base. Additionally, testing sales materials early is a good way to see what works and what doesn’t before the holiday season officially begins.
To personalize branded ship notification emails:
Select the Settings button.
Click the Branded Features button, followed by the Brand Settings button.
Once selected, the Branded Settings dashboard will open.
From here, you’ll customize the color scheme, logo, social media links, and other information.
After you’ve completed all of these steps, find the Emails tab.
Choose which settings you would like to change i.e., if emails aren’t sent until tracking is available for customers. Also, confirm the reply-to email and display name are both accurate.
Click Publish Now.
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Include expedited shipping options for customers
With Christmas landing on a Monday, there may be an increased demand for expedited shipping options. Our study found that 61% of customers are willing to pay $9 more for same-day delivery when placing orders between $40-$60. Many customers are buying stocking stuffers, family gifts, friend gifts, and more, meaning this purchasing threshold isn’t uncommon.
Expedited shipping options are carrier services that offer a faster delivery window than traditional services. These services include overnight shipping, where a customer receives a package the day after it’s ordered (or two days if the item was ordered after the shipping cutoff on the first day). We understand that offering these options may not be available for your small business. As a compromise, it might be worth offering services with guaranteed service delivery options. This way, there’s an available refund option if a package doesn’t arrive within the guaranteed delivery window.*
Additionally, communicating shipping deadlines is crucial. Shipping deadlines are the last dates a package can be shipped and still arrive in time for Christmas. Offering premium shipping options is expensive. But, if your business shares shipping deadlines for the carrier services you provide customers, it’ll decrease the chance of customer dissatisfaction, increasing the chance for repeat business.
*Note: These delivery guarantees might fluctuate during the holiday season, so we recommend reaching out to your carrier directly.
Rate Advisor
To determine the best shipping options for your business, Stamps.com users have access to our rate advisor. Our rate advisor allows you to compare rates through three different categories: cheapest, recommended, and fastest. These rates are populated based on the shipment information entered, and you’re able to filter by carrier, delivery window, packaging, and price. This way, you can find the best rate for your business and still meet customer expectations.
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Expand to marketplace and store selling
Our study shows that holiday purchases made through online marketplaces have the potential to reach $253 billion globally, with, as we mentioned earlier, $183 billion of this amount coming from North America. If you’ve been hesitant to sell on marketplaces like Amazon in the past, now’s the time to start. Stamps.com users can easily integrate stores and marketplaces into their accounts so that eligible orders show on the orders screen.
With eligible orders automatically imported to your Stamps.com, it’s easy to create labels and packing slips. After your labels are printed, we’ll send the tracking information to Amazon, so they can send shipment confirmation emails to your customers. Amazon offers seller support within the seller portal for additional help with Amazon questions, and Stamps.com users can reach our support team via phone from Monday-Friday, 6am-6pm PT at 1-855-889-7867 or via email, with a 1-2 business day response time.
Amazon Prime Days
Amazon has announced that October Prime Day(s) will return this October 10th-11th, giving your business the opportunity for a test run. Early holiday shoppers will more than likely take advantage of Prime Day deals, so it’ll also help your business predict popular holiday items. Keep an eye on which items are flying off the shelf vs the ones that are collecting dust, and use these trends when planning holiday inventory.
Prioritize shipping insurance
All of the upcoming holiday gatherings may mean your customers aren’t home whenever packages are set to arrive. Our study found that 37% of customers are worried about packages being stolen, so it’s time to make shipping insurance a priority. Most carriers include either insurance or declared value with their services. These insurance options are usually around $100-$200, depending on the service, but some services do come with the option to purchase supplemental coverage. If a package is damaged or lost, you can file a claim to see if you’re eligible for reimbursement.
ParcelGuard™
For high-value items, it’s also worth considering extra third-party shipping coverage from providers like our partner, ParcelGuard™. The cost of ParcelGuard will vary by the amount of coverage added to a shipment and can be added in the Mail or Orders tab; it’s also charged in the cost of your label, so there’s no need to worry about invoicing or surprise charges. ParcelGuard claims are filed electronically and through your Stamps.com account. Give your customers the gift of security this holiday season and offer shipping coverage options.
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Holiday shipping tips for ecommerce businesses
This holiday season is on track to be a big one for ecommerce merchants. Customers are already preparing their shopping lists, and some are already shopping. Here are a few ways you can make sure this holiday season is a prosperous one:
Include detailed information about tracking shipments
Expand your online selling to marketplaces like Amazon
Offer expedited shipping options whenever/wherever possible
Enable branded tracking shipment emails to avoid unattended packages
Utilize carriers with included insurance options and consider purchasing more insurance for more expensive items
Keep the holiday season merry and bright with a trial to Stamps.com.
What would you say if we told you 68% of customers take shipping costs into account when deciding whether or not to purchase an item? That’s exactly what our recent study found. With more than half of customers expecting free or low shipping costs, it’s worth taking into account. We understand offering free shipping might not be an option for your business year-round. However, there are ways to still meet customer expectations without breaking the bank.
Offer free shipping during big holidays
Offering free shipping during big holidays like Christmas or popular sales times like Black Friday and Cyber Monday is a given. But, you might be missing out on sales by limiting free shipping promotions during the holiday season. Holidays like Valentine’s Day, Memorial Day, and the Fourth of July also include discounts and sales, so they serve as an opportune time to offer free shipping to customers. If you can’t offer free shipping throughout the year, utilizing other holidays to offer free shipping is the way to go.
Set a minimum cart value
We’ve all seen in-cart messages that show us how much more we need to spend to qualify for free shipping. If customers are close to the free shipping threshold, they’ll be more likely to add a couple more items to their cart. This especially rings true during big shopping seasons. Add a minimum cart value that makes sense for your business to provide customers with a free shipping option.
Additionally, you can make free shipping available for more expensive items to give customers an added incentive to complete their purchases. In our study, almost 61% of customers stated high shipping costs were the number one reason preventing their repeat business. Your business might not be able to offer free shipping on all purchases. But, your customers will appreciate the effort to incorporate free shipping where you can.
Reward repeat customers with free shipping
Customers return to your business because they had a positive experience and like your products. Keep customers coming back through exclusive offers like free shipping. Whenever customers share photos of your products on social media, ask if you can repost the content and send them discount codes for free shipping or sales on their favorite items; reward followers with giveaways that range from free products to exclusive deals.
Social media isn’t the only way to promote free shipping! Stamps.com merchants can customize branded ship notification emails. These emails allow you to personalize a tracking page to include your logo, social media links, and a promotional message to boost the visibility of any running sales. Customers will receive emails throughout the shipping process, so they can take note of any sales. Those who order from your business regularly will be the first to know about free shipping or upcoming sales.
Prioritize free returns
Free returns are becoming increasingly important with customers. In fact, our study found 81% of customers believe returns should always be free. Free returns and free shipping might not fall within your business’s budget, so we recommend prioritizing free returns. The customer expectation around free returns is higher than free shipping, so offering free returns is crucial. As we’ve mentioned, you can offer free shipping during holidays and over a certain threshold, but free returns should be accessible for every order.
Tips for offering free shipping
Offer free shipping during holidays like Memorial Day and the Fourth of July along with Christmas and other major holidays.
Calculate a free shipping threshold and include in-cart messaging to show customers how much more they need to spend to qualify for free shipping.
Incentivize customers with free shipping and promo codes through social media and branded ship notification emails.
Prioritize free returns over free shipping because customers have a higher expectation for online returns.
If there’s a word that has been used more than any other to describe 2020, that’s quite possibly it. People have changed their routines and habits in everything from work to school to dining out to shopping, and it’s likely that this will continue into Q4. With the 2020 holiday season fast approaching, it’s anybody’s guess how it will go. This is especially true since one of the biggest online shopping events of the year — Amazon Prime Day — has now entered the fray.
As a result of the global pandemic, Amazon Prime Day, which is typically held in July, will be on October 13th and 14th this year. This brings significant — yes, unprecedented — changes to the online retail landscape. Prime Day is now close enough to Black Friday and Cyber Monday and ready to give those long-standing shopping extravaganzas some serious competition.
In celebration of its 20th anniversary, Amazon held its first Prime Day in 2015. For Prime members only, it was a one-day event that saw prices on many items slashed to historic lows. Now in its fifth year, Prime Day is a two-day retail sensation that sees prices drop to levels that often beat out the legendary Black Friday doorbusters.
Is Prime Day really that big? Yes, it is. Global sales hit an estimated $7.16 billion during the 48-hour period in 2019, up a whopping 71% from the previous year. And with more people than ever shopping at home because of COVID-19, that number could exceed all expectations in 2020.
What can online retailers do to capitalize on the popularity and online shopping frenzy surrounding Prime Day? Here are a few tips:
Don’t try to compete with Amazon. The best-selling products on Prime Day — and the ones that are promoted most heavily on its website — are Amazon’s own, such as Kindle and the Alexa system. And make no mistake, Amazon has enough inventory to last the entire holiday season. Any business that promotes similar devices is going head-to-head against this juggernaut, and that’s just not a good strategy. Instead of competing, it’s better to focus on ancillary products like covers, chargers, stands, screen protectors, and other accessories.
Price it right. According to Marketplace Plus, the most successful Prime Day discounts are in the 10%–50% range. This is important for retailers to know, as they don’t have to lose all their margin by cutting prices by more than half. A 30%–50% discount is enough to attract customers, while a 5% or 10% discount will hardly raise an eyebrow.
Know what to promote. The most popular Prime Day items in 2019, comprising more than 50% of sales, were in the $25 and under category. Items in the $26–$50 range grabbed a respectable 21%, but the numbers significantly dropped from there. In fact, items over $200 made up only 5% of total sales. The lesson? Prime Day promotions should focus heavily on items in the optimum price range.
Don’t promise what can’t be delivered. Carriers are already experiencing delays in shipping times due to COVID-19, and that will certainly get worse as the holidays draw closer. A retailer’s website should clearly inform customers of this and prepare them for delays and longer shipping times. It’s also a good idea to monitor COVID-19 stats in various parts of the country. Local restrictions and lockdowns can be put in place without warning, and that could affect a retailer’s ability to deliver on time. Finally, there should be plenty of inventory on hand, especially for highlighted items.
Diversify. This will be the first Prime Day of its kind, and there’s no telling what will happen. But it’s a safe guess that online shopping numbers will hit an all-time high this year in terms of both shoppers and dollars spent. So be ready. No one knows what the best sellers will be, but a broad product line is more likely to tap into this year’s hot items — whatever they may be.
Be creative. What sold well last year may not be much more than a blip on the screen in 2020. COVID-19 has changed people’s behaviors and habits, and products that can be marketed as addressing problems stemming from staying at home and lockdowns are likely to be big sellers this year.
Optimize listings. Prime Day is a good time to sharpen the proverbial pencil and rewrite old, dull product descriptions. Titles and descriptions can be freshened up with snappy writing that will grab the attention of potential customers. And there’s nothing wrong with checking competitors’ websites to see what keywords and terminology they’re using.
Use Amazon’s promotions and deals. When a retailer offers a discount by using an Amazon coupon, a highlighted label draws attention to this. It’s a great way to ride the coattails of Prime Day without having to pay for additional promotions. And it’s a good idea to check Amazon’s terms for coupons several days before Prime Day, since they don’t become active immediately.
Last year, Amazon raked in more sales on Prime Day than on Black Friday or Cyber Monday. Yes, it’s that big. With some forethought and planning, sellers can capitalize on what very well could be the biggest shopping event of the holiday season.
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The content on this blog is "as is" and carries no warranties. Stamps.com does not warrant or guarantee the accuracy, reliability, completeness, usefulness, or quality of any content on the blogs, regardless of who originates that content.
