The heart of the matter: Strategies to increase Valentine's day sales!
Wait Wait…. It’s not just another article on sale week and it’s not about flowers and teddys. So, what’s different about it? Here we are to give brands a peak into what they can do to make some serious sales on Valentine’s Day. It’s not just an occasion for chocolates and gifting brands to acquire new customers. It’s time for brands across industries to connect with the young generation.
Let’s drown in the ocean of customer sentiments to find pearls to shine sales.
Valentine’s Day Beyond Chocolates and Teddies
No offense to the gifting eCom industry – It is indeed their time to peak sales, but we are here to look at how other products flourish during Valentine's week. Spending close to valentine's day bump up as the week bring in new customers looking to buy beyond gift items, but the gift items are not just limited to chocolates and common gift item.
On the world’s largest e-marketplace, Amazon bands are pushing to connect with the young generation. A connection that will benefit them in long run establishing as a brand for the youth.
Offers like “sound of love” on Amazon featuring brands like JBL, Bose, etc. are what attract new customers who are not just looking for roses. Brands need to up their game in product categories that are more searched on this day but also push products that connect with the demographics.
The day has quite a significant and revenue-driving force in all essential sectors.
Be Available to Witness The Shower of Love on eCommerce Platforms
Time to dress for the occasion with the insignia of Love. The Fashion eCom lit up in the season of love with special combos and clothing to help couples dress up for the occasion. Clothing and accessories flood the eCom market. But brands and sellers on eCom platforms need to boost their product discoverability first to boost sales among the cutthroat competition.
Be it Valentine’s Day or any other sale week brands need to be on top of sale trends and competitors' pricing and discount offer to become the top pick. Brands need to optimize their Product display page content, set banners at the right spot to boost visibility, and know the right price to be the top pick.
The biggest factor that can help brands boost revenue during valentine's week is being able to meet the demand on the day. Brands need to ensure their product availability across the eCommerce platform.
Can’t Buy Love But Can Buy For Love
You can groove to the Beatles ‘can’t buy me love’ on the V-day but you should definitely buy something for your Love to keep that intact. Americans plan to do exactly that as does the rest of the world. According to a report on Valentine’s Day 2023, the United States is all set to spend $25.9 billion. The National Retail Federation survey predicted sales to be around $2 billion higher than the previous year.
Things To Do For Brands – Equip Well For V-day Sale and Beyond
What can brands do? Simple just ride the sale wave – make your products stand out during this week and beyond. Yes, you read it right ‘beyond’ like love eCommerce game is not just T20 brands need to be an all-format player to edge ahead of your competition. Gear up with the right tools to go an extra mile and score big.
Here are some things brands could do on a sale week across eCommerce platforms and even on Social Commerce space
Refine your content to boost product visibility
Know your customer sentiment
Target the right demographics
Target Tier 2, and 3 cities to acquire new customers
Track competitors across product categories and sub-categories on eCommerce platforms
Ensure product availability across geographies on eCommerce platforms
Optimize delivery time
Ensure sellers do not go overboard and violate the threshold price
Brands need to optimize customer experience to acquire new customers and build on by tracking customer feedback.
Final Thought – Pluck The Rose But Beware of Thorns
Brands need to be careful when to target these sale events. Strategies need to be based on insight and comprehensive competitive analysis to shine through with a boost in revenue. Know your customers and competition to edge ahead. Gear up with mScanIt, a digital intelligence Solution to get deep actionable insights across KPIs (Key Performance Indicators). Start tracking your competition and your own product performance across platforms. Book a demo now and contact us to know more about what mScanIt can do for your business.
The race is heating up to grab shoppers’ attention. Dress to impress and make shoppers fall in love with your products.