Den skræmmende Halloween kommer der er også de mest forventede periode for alle e-commerce detailhandlere, da dette er udgangspunktet (4th største ferie for e-handel kommer efter sort fredag, Cyber mandag, Jul & Nytår) af de højeste toppe af salg. Mellem Halloween og nytår, millions of customers purchase billions buying stuff for friends, family and also themselves.
Roughly, it is expected that 24 procent af onlinekunderne are planning to spend up to 60 percent of their total holiday budget online during the holiday season. Desuden, Ifølge stats and facts from The Balance, it is also expected to break records for Halloween reaching up to $9.1 billion spendings for 2017.
*These stats are taken from https://www.thebalance.com/halloween-spending-statistics-facts-and-trends-3305716
Med sæsonbetonet trafik indstillet til at nå sit højeste niveauer og en stigning i e-commerce salgsmuligheder, this is the best time to be prepared and invest your energy to get advantage from crazy shopping times. Så, assuming you’ve already done with your marketing campaigns for Halloween season, we’ve decided to give vital tips to help you how to effectively price your products for Halloween.
Increase your e-commerce sales and boost your revenue with these Halloween pricing tips;
1- Hold your profitability in a good shape while staying competitive
It is a fact that online shoppers are searching for best prices and they are evolving to wild deal hunters during holiday time. But this fact should not force you to be the minimum in the market. Hvis det er tilfældet, you may lose your profitability and can not reach the expected revenues. Så, as your ultimate goal is improving your net profit during Halloween, always keep an eye on your costs.
Instead of being the lowest in the market – no matter the cost – e-commerce companies should analyze their costs to achieve unbeatable competitiveness.
If you can not reach the adequate competitiveness in the market because of your costs, try to cut them further up the chain. Kun når du finde ud af en måde at sænke dine egne omkostninger, du vil være i stand til at tilbyde store rabatter eller lavere priser for kunder.
Også, with Prisync’s Dynamisk prissætning modul, you’re able to set smart prices by adding your product costs to your products that you track in your Prisync konto. Når du har tilføjet dine omkostninger til dine produkter, du vil finde ud af din smart priser baseret på dine omkostninger, dine konkurrenters priser og avancer dine mål.
2- Don’t undervalue your products harshly, search for price increase opportunities!
Even you target to convert as many online shoppers as possible during Halloween by setting competitive prices, be careful not to be too competitive.
It is obvious that you attract the attention of shoppers by setting low prices and you may be successful at converting them as your paid customers. Men, if your customers are deal hunters and always search for the best deals, price your product at the max of the minimums. Jeg mener; search for opportunities where you can price your product until it is almost priced at the second cheapest competitor, yet remains well below that.
I would like to go through with a real example.
Batman costume is expected (igen) to be one of the most popular product for Halloween in 2017. At below you can see two different e-commerce retailer selling the same Batman costume. The first one is the most competitive one in terms of price selling it at $39.81. The second retailer sells the same one at $49.95. Så, i dette scenario, den første e-handel forhandler kan hæve prisen lige under dens konkurrent ved at indstille det $48. This move will bring increased profit margins that lift up the balance sheet and still let the product the most competitive one in the market.
3- Analyze your competitors past Halloween price trends
Most of the e-commerce retailers have different pricing decisions during a certain of time and it is also valid for Halloween!
Some of them start setting special prices just before the Halloween week, another portion of retailers use dynamic pricing and set instant prices during Halloween, and some of them target for last minute shoppers or post-holiday shoppers and offer promotions for them.
In order to win this price battle and respond every single move of your competitor to stay competitive, you should be aware of market and price trends at the product level.
Derfor, e-commerce companies should also monitor and analyze the historical pricing trends of their competitors for Halloween while closely tracking actual prices.
4- Try to identify stock-out products of your competitors.
It’s vital to provide the product that your customers want especially during special times like Halloween. Tro mig, online shoppers don’t hesitate one moment to make the purchase elsewhere if they are not able to find from you. Med andre ord, from the opportunity perspective, if they can’t find a Batman costume from one of your competitor, you’ll be the next door for them!
Desuden, from another opportunity perspective, if shoppers do not have many choices, they perceive the product more valuable so their willingness to pay more will be higher. That’s the psychology of shopper!
If you detect that one of your competitor’s product is out of stock, the chance of selling it will increase. Desuden, you can set higher prices which will help you to increase the profit margins.
Derfor, the e-commerce company with the competitive advantage and stock availability get the potential advantage in pricing. With the right technology, companies can gain insights on their competitors’ stock availabilities and prices, then implement this strategy, on the spot.
Halloween does not mean sales come just because it’s the season and it is the time for shopping. Online-shoppere er virkelig opmærksomme mens de bruger deres penge i online-markedet som de kan gøre produktsøgning og sammenligning nemt. That’s why you need to be ready for the big day and load your arsenal with these tips. Besides of your marketing campaigns prepared specifically for Halloween, use these pricing tips. Du vil se, hvordan kan du opnå for at konvertere dine potentielle kundeemner til reelle kunder.