A terrible thing occurs to the majority of Shopify stores every year. After all the Black Friday and holiday season hype, sales start to decline.
Customers begin returning items, and you’re left with unsold products, not knowing what to do with them.
Deadstock reduces earnings because it incurs sunk costs, takes up storage space for items with high maintenance, and drives up labor costs since staff must manage unsold inventory. Additionally, unsold holiday product is more vulnerable to theft or harm.
The most wonderful time of the year? Not really. It's actually the most terrible season of the year, and it may leave Shopify stores in ruins for several months.
Are there means of preventing this? Definitely.
If you’ve put all your resources and focus on Black Friday and Cyber Monday, you’ll definitely go through a dip when the season is over.
But you can prevent this by playing smart all year round, not just at the end of the year.
Use the next six strategies to keep your sales high after Black Friday and the holiday season.
Take stock and analyze your expenses
Assess your supplies and determine how much the seasonal merchandise you already have will cost you. You may develop a plan to sell it off over the post-holiday season after you understand how much stock you need to shift and how much it will cost you to purchase it.
Evaluate your Shopify inventory management system when you're taking the 12-month inspection. Try investing in better storage options or updating your inventory software if maintaining an accurate list has been difficult for you and is taking up too much time.
Keep the items you can still sell
While there won't be much need for Christmas trees in the off-season, cinnamon candles could continue to sell well after the holidays. Warm-weather clothing may continue to sell until late spring — or possibly all year long if you ship worldwide. Instead of showcasing them as Christmas goods, refer to them as winter products.
Determine if you can hang onto your holiday-specific products until next season or whether you need to sell them immediately. The perishable products must be removed as soon as possible, although certain things can be worth saving and selling the following year again. Next year, you can be one of the first Shopify stores to offer holiday products in the early autumn period.
Offer the best deals all year long
Every day can be Black Friday if you know how to play it. It’s important to always offer the best deals.
However, you can’t always know what it is that your customers really want.
Here’s an idea–how about…Asking them?
You go to an online store, and you can choose your preferred discount for any product in the shop!
Why does this work? It's because of the Shopify app called 60seconds, built specifically with Shopify stores like yours in mind.
60seconds enables your consumers to select the discount they desire for your purchase.
The process is rather straightforward: you select a discount range you're willing to offer for a certain product, and your buyers select a discount within that range.
Once you confirm their request for a discount, they have 60 seconds to complete the purchase.
Don’t stop with the marketing
When the economy is down, your marketing budget should be too. But don't reduce spending just yet!
It may seem like PPC costs will go up in Q1, but if you wait until later on when they are lower, then not only can you get more bang for your buck by testing different ad copy or targeting options–you'll also have time to optimize existing campaigns without feeling overwhelmed with new tasks.
The worst thing any company could do at this point would probably involve cutting back their budgets significantly.
However, there's actually some good news here because the average cost per click across all search engine optimization networks tends to drop in the first few months of the year.
The New Year is a great opportunity to experiment with new strategies, such as display advertising, YouTube ads, and even giving presents to bloggers for reviews.
If you cut your marketing spending because your sales aren't doing well, you run the risk of completely ruining your Shopify store.
Make efforts to increase average spending
Sometimes, increasing your client base is not necessary to increase your revenue. Taking extra money from customers who already purchase on your website may be the simplest method to boost turnover.
Cross-selling and upselling to customers, while they are on your website, are two strategies for raising average spend.
To increase the average purchase value on your website, you may also provide promotions like "free shipping above $50" or sending gifts for orders above $35.
Making as much money as you can from those clients while trying to attract new visitors to your website is always a sensible move and will provide you with the highest return on investment.
Take advantage of New Year's resolutions
Once the New Year arrives, a consumer's thinking undergoes a significant shift.
Up until the very last second of December 31st, people are indulging in delectable foods and beverages, buying stuff, accumulating items, and putting on weight.
On January 1st, things are totally different, and everyone is thinking, "New Year—new me." Consumers have a strong sense of self-control, hard resolution, and a commitment to "be a better version of themselves" in the New Year. This is your moment to strike with some marketing.
Now, it’s time to put your marketing efforts into products that promote organization, well-being, fitness activity, productivity, new hobbies, stress management, etc.
New Year–new Shopify store strategy. The only way to keep sales high after Black Friday and the holiday season is to not anticipate them at all.
Play a smart game all year long. Plan your inventory on time, optimize your marketing efforts, and explore how to increase your average order value.
Most importantly, offer great deals. 60seconds can help you keep sales high without having to wait for Black Friday.
Give your customers the best offers–the ones they choose. Get started today.