The 2015 holiday shopping season is in full swing and the numbers from early sales reports are in! According to Shoppertrak, in-store sales for both Thanksgiving and Black Friday declined a grim 10 percent while online sales witnessed growth accounting for nearly 14 percent of overall sales for the four day shopping weekend. Additionally, sales from Cyber Monday—a holiday reserved for online retailers—also showed significant growth, generating $3 billion; a 12 percent gain from last year.
These statistics are strong indicators of how consumers will shop for the rest of the season and entrepreneurs should implement an online-centric strategy that’ll limit inefficiencies from heavy flows of online orders.
Firm Shipping Solutions
It’s online shopping season and contracting external shipping solutions will certainly increase a SMB’s profit margins. Top e-retailers have practiced efficient delivery methods and smaller businesses should follow suit should they want to continue thriving. Amazon.com for instance, boosted its efficiency by adding lockers and fulfillment centers in top cities nationally and domestically. Though costs from this are high, there is an alternative that SMBs can employ that will help products reach the hands of consumers. Encompass Shipping, for example, has fulfillment centers in major parts of the globe and work specifically with SMBs in speedy delivery of products and diligent monitoring of logistics to cut any inefficient factors involved in shipping internationally.
Recent PayPal study reports that 25 percent (of the 23,000 online shoppers surveyed from 29 countries) have shopped at a U.S-based online retailer. This groundbreaking revelation indicates growing comfort among foreign consumers in US online retail and if applied effectively potentially introduce a US brand to an entire market ignored if it were not for the Internet and its ease in online shopping. By adopting international marketing techniques that aim to push your brand atop of foreign consumers, you can increase your product’s visibility and build a solid international following.
Avoid Market Fluctuations
Imagine your profits from international sales taking a nosedive? For some that is a reality and as more consumers find comfort in international e-commerce, business owners should remain alert and actively limit those losses. As top foreign policy makers consider inducting the China’s Yuan into the IMF’s basket can only expect currency fluctuations. Heavily monitoring currency values, however, can cause headaches for the entrepreneur who is already actively juggling between different areas of his or her business. You can easily remove that hassle and limit your losses by consulting with a foreign exchange expert that can safeguard your business earnings from such fluctuations.
Consumers are driven by prices and what they are willing to pay for a product. That is a main reason why appeal on holidays like Black Friday and Cyber Monday has increased throughout time. Consumers want it cheap. Luckily, online retailers don’t have to worry about costs associated with in-store maintenance and can afford to offer discounts on hot-ticket products. Giving discounts is an effective way of building strong sales and can help retain consumer spending for the future.
One critical decision for your business this season can have an exponential effect on holiday sales. Encompass Shipping has the network and resources to help you maximize your business’ profits from online sales. Contact one of our consultants at 1-212-434-0067 or by email at email@example.com find out how we can help you succeed this holiday season and beyond.