Summer is here, and this is one of our favorite times of the year! While some go out and enjoy the sun on beaches, for others, such as eCommerce businesses, it is the perfect time to increase their sales and margins. But, we know what you are thinking. How can I do it? Don’t worry because we will show you the road map to optimize your online store for summer. 

1- Review your strategy 

The first thing you have to do is review the results from the pricing strategy of your last summer sale. Look what worked out and repeat them. If possible, look for ways to make them better. You always have to strive for more. Analyzing also means looking at what went wrong. Detect where it went wrong, improve it, or if it did not work, do not use it again. 

2- Define your objectives 

Now, it is time to define your objectives. Do you want to improve your results from last year? In that case, you should invest in more resources or think of more pricing strategies that will increase your sales and profit margins. Another example is to increase your advertising (more channels), the budget, or use a pricing software like PriceTweakers.   

3- Attract customers 

During promotions, the most obvious thing your competitors will do is, of course, lower their products' prices. That is not going to cut it if you want to attract more customers. You have to do more, like using an attractive pricing strategy. A perfect example of this is the promotional pricing strategy. Promotional pricing creates a sense of urgency in customers (to learn more about promotional pricing, click here). Another example is to offer an additional bonus, such as discounts for future orders or free samples.    

4- Improve shipping 

Everybody loves free shipping, and Statista discovered that 73% of consumers are more likely to purchase items that have free shipping. In this case, one way to improve your shipping is to lower the requirements to qualify for free shipping. Another tactic is to make shipping dates more flexible. That is vital, especially during deals because, during this period, package delivery companies receive a high number of orders. Last but not least, make returns free and easy to make.  

5- Retargeting campaigns 

During summer deals, it is common for users to browse quickly and leave your eCommerce store. That is called shopping cart abandonment. Baymard Institute found out that the average shopping cart abandonment rate across all industries is 69.82%. Here is where retargeting becomes crucial because it works to recover those clients. According to Invesp, 26% of customers will return to a site through retargeting. That's the reason you must have your email list updated or add a pop-up to remind potential customers that they are leaving items in the shopping cart.

Conclusion 

Summertime is the perfect moment for you as an online seller to set up a sale. But you need a plan before you execute it. With PriceTweakers, you can create pricing strategies that will increase your sales and profits. Also, you can set the minimum and maximum price margin on your products, so you never sell below your desired margins. We also offer you price monitoring, and with this tool, you monitor your competitors’ prices. 

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