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If you’re an e-commerce store owner, you likely look at the festive period with mixed emotions. Obviously, the financial boon that Christmas brings is a most welcome boost to your business coffers, but processing an influx of orders all at once can pose a stressful challenge for even the most established of companies.
How can you ensure that your business handles the upturn in traffic and sales over the coming weeks without major incident or event? As always, preparation is key to pulling off any success in the business world. Follow these handy tips and you can be sure that your e-commerce store will prosper rather than plummet this Christmas.
Use analytics to anticipate demand
Data has taken on a whole new sense of importance in today’s business world. Harness the awesome power of big data by analysing your customer’s behaviour in the past to predict how they will conduct themselves in the future – then ensure your site has the capacity and your stockroom has the supply to meet that demand.
Any data analytics software can provide the kinds of insights you need to understand your target audience’s psyche and make sure you’re well prepared to satisfy it. Even if you don’t have previous years of data to go on, you can always peer over the shoulder of your competitors to comprehend market trends and act upon them.
Any data analytics software can provide the kinds of insights you need to understand your target audience’s psyche and make sure you’re well prepared to satisfy it. Even if you don’t have previous years of data to go on, you can always peer over the shoulder of your competitors to comprehend market trends and act upon them.
Integrate your ERP
Enterprise resource planning (ERP) should form the foundation of your business model. Finding a dedicated ERP that dovetails seamlessly with your e-commerce platform is integral to simplifying and automating the processes that make your business tick.
For example, if your store operates upon a Shopify platform, finding the right Shopify ERP should comprise a central priority of your strategy this Christmas. Not only will such integration allow you to track orders, anticipate demand, and order new stock as and when it’s required, but you’ll simplify the whole management of your business going forwards.
Get your accounts in order
Given that the festive period represents the busiest period in the entire calendar year for most companies working in retail, filling orders often takes precedence over ensuring the books are balanced. That’s entirely understandable – but it can cause practical headaches further down the line when it comes to submitting your tax return.
Bearing in mind that a recent study revealed that 82% of all businesses fail due to cash flow mismanagement, that’s not a risk you can afford to take. Marry your e-commerce platform with a cloud-based accounting service and your accounts will be automatically updated as you go, saving time, money, and no little amount of stress in 2021.
Keeping the customer satisfied
Last but not least, the secret to a successful Christmas season in commerce is the same as it is at any other time of year: keeping the customer satisfied. This is achieved primarily through ensuring that orders are filled and deliveries are made on time, but you can also sweeten the deal through a variety of other methods, too.
Consider adding additional perks into the checkout experience in order to keep customers happy and entice them into coming back for more next year. This could take the form of introductory offers, discounts on repeat purchases, and free delivery, among other incentives.
You may also like: Boosting Your Online Store Sales In The Lead-Up To Christmas
Image source: Pixabay.com
