There is nothing worse than running out of the must-have gift and having to turn away a new customer. To avoid this scenario, make sure that your online store is fully stocked and that you have plenty of your bestsellers readily available. “Stock up on your most popular items, the latest trends in your industry and specially branded or crafted gifts that make your merchandise stand out,” Garcia-Villari said. “Talk to vendors and see if you can get discounts for buying in larger quantities or extended payment terms.”
Focusing on online sales as part of your marketing plan is imperative for all small businesses that are looking to maintain regular sales numbers and see holiday success this year. Although the shift to mostly online shopping has been steady over the past several months, don’t fret if you don’t have time to get your entire inventory online before the holiday rush.
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“Make a small selection of what you feel will be hot this holiday season, and offer those items up for online purchase and shipping to the customer’s front door,” said Christopher Mohs, vice president of strategy and operations at Cora+Krist. To further capitalize on the growth of online business, merchants should focus on reducing shopping-cart abandonment (when customers add items to a virtual shopping cart but don’t complete the purchase), particularly on mobile devices, said Amit Mathradas, president and chief operating officer of Avalara.
“Online sales and an emphasis on mobile are categorical imperatives,” he said. “A site not rendering properly on a mobile device or any hiccups in payment processing can cause a ripple effect in terms of lost sales.” Another major online shopping trend in 2020 is “buy now, pay later,” which allows customers to pay in set installments or monthly.