Statistics reveal that along with preparation, timing is crucial for the success of any business venture, more so for an ecommerce website. With a well-thought business idea, it is easy to chalk out a detailed business plan and ensure streamlined business operations.
Well, this is the easier part of starting your online business.
The crucial thing is the TIMING!
To ensure success you need to choose your online store’s launch time which favours your business.This is definitely not an easy task and needs careful calculation.To decide the right launch time you have to consider a number of things like;
- How to arrive at the best time for rolling out a web store?
- How to decide the mood and buying sentiments of your target audience?
- How to determine that whatever product you are offering would be well received by online buyers?
- Is there a way to time your online retail store launch to ensure success?
Even with all the brainstorming the “opportune moment” has remained elusive till date, right!
So how about digging into some industry trends?
Brilliant idea, isn’t it?
How To Decide The Best Time For Launch Of New Online Store
Still, riding the horns of a dilemma?
Let’s help you decide.
Have you noticed how the big brands align their new product launches? How do all the popular multi vendor marketplaces announce their mega sales around a particular season?
Is it just an annual ritual or is there something more to it?
Well, the reason is - these launches and sales are all perfectly timed to make the most of the happy sentiments tied to major festivals when customers are not only inclined to buying but rather say, have been saving the year round to buy big ticket items!
Wonderful business hack, isn’t it? And it works every single time!
Well, no secrets here!
Need further proof about the timing? Let’s start decoding:
1. Make The Most Of Buyer Frenzy
Ever heard of the of a scenario where online businesses witness the following:
- 5X-10X traffic boom overnight
- Sales figures breaking all previous records
- Products going out of stock within minutes
- 30% - 40% increase in average order size
- Increased rate of impulsive and planned purchases
How do you define all the above put together?
Nopes – this crazy phase is called festive season sale in eCommerce parlance!
This is the best time to build an online store and launch it right away!
Buyers are in a festive mood and keep looking for new products for their loved ones and themselves. With a bit of advance planning and right product inventory you can ensure that your products go off the shelves like hot cakes.
Buyers save throughout the year to make the most of festive deals and discounts. With smart marketing you can rapidly create a brand value for your new online store and ensure it gets the attention and conversions from the festive buying spree.Set your cash counters ringing while your buyers are ready to shop till they drop :)
StoreHippo offers a gamut of inbuilt marketing tools to help you experiment with different marketing strategies. So chalk out the plan and get it rolling.
2. Get Free Tips And Trends from Market Bigwigs
Do we need to reinvent the wheel when we can easily have the best marketing and selling strategies for an online store available on the platter?
Not sure where or how?
All you have to do is look at the latest strategies being employed by the ecommerce bigwigs, the popular multi vendor marketplaces like Amazon, Alibaba, Flipkart etc. These sales are closely watched, monitored and analyzed by experts from the industry and media.
You can not only check the previous trends but the media also remains abuzz with upcoming trends on these multi vendor ecommerce websites. These reports and trends give a lot of insight into the expected buyer behavior and shopping trends for the season.
You can take advantage of these free tips and trends and use them to drive your sales. These trends give you the most accurate and statistically proven data which can help you in formulating your business and marketing strategy to achieve quick short term goals.
StoreHippo dashboard comes with inbuilt analytics tools that help you identify your bestselling customers, regions, products etc. along with complete details of your order and shipping history. You can also integrate with Google Analytics to get quick insight into your ecommerce website traffic and visitor trends.
3. Ensured Repeat Buyers
What makes your business successful? More and more orders, right. And how do you keep getting more orders?
Well, getting orders from new buyers is a must to grow your business. But, even more important is that once converted these buyers remain loyal to your business.
And there is no better time than the festive season to ensure your customers keep coming back for more on your online store.
The festive season sale is a prolonged stretch of 3-4 months. Customers keep returning to buy the products they added to their wishlist or cart but did not convert at that very moment. With the right mix of products, services and follow ups you can ensure that you keep getting return orders even during the New Year when buyers are more open to bringing something new in their lives.
And why stop there, you still have Valentines Day and the spring to follow with strategic marketing! A launch during the festive sales ensures steady orders on your ecommerce website for the coming month.
It also gives you firsthand experience of customer behavior and shopping patterns in your store. You can analyze all these trends and data to plan your business for the remaining part of the next year.
With StoreHippo you can easily give the wishlist option to your customers. Using the inbuilt abandoned cart follow up feature you can automatically follow up and convert the incomplete orders. You can also send personalized deals and offers using unified notifications (email, SMS, push) to get more orders on your online store.
4. Get Better Deals On Logistics Solution For Ecommerce
This is the time when the whole supply chain is geared up to make the most of the peak season. Logistics providers know that this is the best part of the year for earning more by providing improved services.
You can use this to your benefit by negotiating better pricing, deals and value added services with your delivery channel partners. What’s even better is that you can employ your own fleet of delivery boys to ensure faster and better hyperlocal deliveries. You can hire delivery boys for your ecommerce website who are ready to do extra hours to earn more during the season.
Remember, the first impression is always a lasting impression. If you manage to win customer trust by providing faster and better deliveries, you can win their loyalty forever.
StoreHippo helps you in streamlining your supply chain by offering automated logistics solutions. You can use the integrated and discounted services of our logistics partners or add any shipping partner of your choice. What’s more you can even add and manage your own fleet of delivery boys for your online store with our delivery boy solution.
5. Get Value Added Plans To Build Online Stores
If you have decided to go online you can’t wait another few months to get your store built from scratch. You need a turnkey ecommerce solution that reduces your development and go-to-market time.
Rolling out a new online store becomes very easy and affordable if you are using the services of a well-rounded, feature rich ecommerce platform. To make the online journey of the clients smoother, faster and more affordable all the leading online platforms offer special packages, services or some sort of deals during the festive season.
Festive season promotions can save a considerable amount of your store development budget and give you many free services as well when you build an online store.
StoreHippo offers a plan for every budget and for every size of business. You can connect with our experts at reachus@storehippo to get an update on our latest offerings.
Festive time is the time for happy moods, impulsive sales and a tendency to splurge! You just have to chalk out a right strategy and build an inventory that attracts your customers. Top it up with a beautiful storefront jazzed up in the flavour of the season and festivities. Throw in some discounts and coupons for your customers and you have the recipe for success.
Now that you have ample reasons for starting your new online store during the festive season sale, get going and start a free trial store to explore the features of your chosen e commerce platform.