Not all days yield equal profits. And that’s true for almost all businesses.
But do you know how the big fat online marketplaces manage to drive sales throughout the year?
How do they become customers’ top choice and earn their trust? Most importantly, how do they drive sales even during off-season?
Wonder what their secret recipe is?
The simple answer would be: adapting their multi vendor marketplace to the changing buyer needs.
Yes, to boost your marketplace sales even during off-season, you need to attune your brand to the expectations of your customers.
And what are these habits?
Let us overview a few of these habits:
- 80% of consumers are more likely to make a purchase from a brand that provides personalized experiences
- 93% of online shoppers use a coupon or discount code throughout the year
- 50% of the buyers shop more on mobile devices than in-store
- 80% of consumers shop online at least once every month
- 88% of customers think detailed product pages are crucial for purchasing
Source: Statista
The online marketplace buying trends give a complete picture of how the new-age customers' habits are taking massive turns. With staying indoors and spending time differently, the shopping habits have fast-forwarded. Customers today trust brands that give a fast and effortless shopping experience combined with irresistible offers.
7 effective ways to boost online marketplace sales during off-season
Boosting your marketplace sales during off-season could be a tab-bit challenging. Yes, to have a running flow of traffic on all days of the year, you need to go the extra mile. And if you are wondering how, StoreHippo is here with the 7 most effective ways to lure customers to your brand.
Create your own shopping seasons
What can be more exciting for your customer than an unexpected sale? Nothing right?
You can create your own shopping season by planning impromptu sales for your customers like ‘End of season sale’, ‘Pink friday sale’ etc on your multi vendor marketplace. You can leverage local festivals, special days, or viral trends to offer special sales and create demand for your products in the market. For example, for your fashion business, you can create a Pay Day Sale or a Fun Friday Sale or for your healthcare business, you can dedicate months to disease awareness and create special offers on related products.
With StoreHippo, you can seamlessly create simple yet attractive dynamic pages catering to special occasions in just a few clicks. You can quickly promote your products specific to a geography, user segment, time, device etc and boost your marketplace sales during the off season. StoreHippo also comes with a powerful built-in discount engine to set up quick multi-level discounts like flat or percentage-based discounts for products, collections, categories, user groups, device-specific audiences and more.
Create irresistible combo deals
Buying one combo product is always beneficial to the customers than buying two different products at two different price tags. As you create irresistible combo offers, you push customers into buying more. Yes, it goes unsaid that the minute people see combo collections, they rush to the online marketplace to make a purchase, thus boosting your sales value, even during off-seasons.
Wondering how to implement this tactic to lure customers into making a purchase? Try cross-selling and up-selling. You can recommend a product that compliments the customer’s product in cart, and it necessarily need not be of the same category. You can suggest a hair accessory with a little black dress in the cart or suggest a better quality product with better offers. Well, with StoreHippo, escalating sales has never been an area of concern. You can also offer multi-level discounts, store credits, loyalty rewards etc to boost your marketplace sales.
Offer additional discounts on dead stock
The quickest way to grab your customers attention and gain maximum engagement is to offer discounts. Yes, almost 40% of the customers say that availability of discounts and coupons motivates them to make a purchase. You can offer heavy discounts on dead stock so it doesn't hurt your pockets and boost sales on your marketplace while also clearing up your old inventory. A smart move indeed!
And if you are unsure of how to create personalized discount pages for your customers, StoreHippo has got your back. Built on decoupled headless architecture, StoreHippo enables you to tweak your online marketplace inside out and create highly personalized solutions. You can make any required changes like building custom promotions for better targeting, you simply need to make the front-end changes and it is all done.
Plan pre-booking for new product launches
Every business witnesses new product launches. But did you know you can leverage it to boost your sales. If you ask us how, here is the complete trick.
Identify the best selling products of your brand as the first step. Then plan pre-booking of new collections of these products by onboarding new vendors on your multi vendor marketplace. As you offer discounts on the pre-booking of fresh arrivals, you will see a steady flow of orders even during the lull period.
StoreHippo comes with a comprehensive vendor management system that helps you onboard and manage your vendors seamlessly. The end-to-end vendor management solution offers an individual vendor account to each vendor and offers a simple registration process to help them onboard quickly. StoreHippo also offers a wide spectrum of payment options to help you implement pre-booking and collect payments easily. It offers complete flexibility to integrate multiple payment channels on your online marketplace, you can integrate COD, card payment, net banking, mobile wallets, etc along with international payment gateways.
Repackage an old product for new and old markets
Well, what if you do not have a new product or a new seller in sight to plan pre-booking? Use an old product! Yes, you can repackage an old product strategically and launch it in new and old markets. However, you would need strong marketing tools and features to place them in the minds of your buyers and convince them into buying.
StoreHippo comes with a host of in-built marketing tools to help you create strategic marketing moves to boost your marketplace sales even during off-seasons. It offers easy-to-use and fast-to-implement SEO tools that help you position your product in the market and rank higher on SERPs. You can easily create unique URLs for various product pages, meta titles, and meta descriptions etc right from your admin dashboard and boost organic footfalls. StoreHippo also helps you implement multi-level discounts and promotions to create personalized offers. You can also seamlessly recover abandoned carts by sending real-time personalized emails and push notifications to the buyers.
Offer rewards for reviews
87% of the brands are using user-generated content (UGC) to share authentic content with their buyers. It not only helps them engage better but also creates customer loyalty and in turn boost their marketplace sales even when it's not a shopping season. Isn't that a win-win situation? And what if you also offer store rewards and loyalty points to the customers who share their reviews on your marketplace? You boost your sales volume in the process.
With StoreHippo you can use a host of tools to build your brand identity. It comes with a built-in reviews management system to help you receive, manage, and publish the reviews on the product pages of your marketplace. You also have full control to manage and decide if you want to publish these reviews or not. With the loyalty wallet and coupon feature of multi vendor marketplace builder StoreHippo, you can quickly reward the customers who are putting an extra effort into reviewing your brand. This trick will not only motivate your customers into writing reviews but also give them a reason to shop again from your brand.
Offer free shipping on a lower order value threshold
90% of consumers would shop online more often if given the option of free shipping. Surprising isn’t it? Let us leverage this powerful weapon into boosting your marketplace sales even during a lull period. Big enterprise marketplaces like Nykaa or Netmeds play on free shipping to nudge their customers into buying more. For instance, offering free shipping on orders above 300 or 500 helps you get smaller but more orders.
StoreHippo helps you choose the best-fitting solution from the 30+ shipping providers integrated into the platform. You can also integrate your custom shipping provider easily and optimize your shipping costs. It helps you ensure quick deliveries and minimize the incidence of unhappy customers.
Conclusion
It can be an uphill battle to boost marketplace sales during off-season, but with the right tricks and tips at hand, you can convert your audience into buyers seamlessly. Customers are quick to snap up the best deals offered by you. This exercise not only helps you boost customer confidence but also helps you attain your target sales.
StoreHippo multi vendor marketplace offers great marketing tools and futuristic features to help you promote your brand and boost sales. Built on cutting-edge technology, StoreHippo makes it easy for enterprise brands to create seamless buyer journeys and leverage such marketing tricks. With plug-and-play marketplace solutions, you can easily customize your online marketplace for unique brand requirements.
So are you ready to ramp up your marketplace website with StoreHippo ecommerce solutions and boost your marketplace sales? Explore the enterprise-grade features by starting your 14-day free trial now.
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