Despite it being still feeling as though it is winter, the August bank holiday marks the end of the summer season in the UK. This public holiday is celebrated on the last Monday in August in England, Wales, and Northern Ireland and is fast approaching.
Over the weekend, there is sure to be a lot going on from festivals and carnivals to dances and parades. During this time, consumer spending rises allowing your e-commerce store to capitalise on the occasion. In fact, 19 per cent of people say they spend more on a bank holiday weekend than they do an ordinary weekend.
Each bank holiday is reported to have the power to add £500 million in spending to the economy, and businesses can see a boost in sales of around 15 per cent. Needless to say, bank holiday is the ideal time to capitalise as shoppers look to make the most of sales and promotional offers.
To boosts sales and increase revenue, it is important to identify retail opportunities from bank holidays. And to take full advantage of the remaining bank holidays and celebration days this year, your e-commerce store must be prepared to meet customer demand and payment preference.
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This blog will explain how to get your e-commerce store bank holiday ready this August.
Tailor your product offering
To take advantage of increased traffic and consumer spending, ensure your tailor your product offering to the seasonal shopper. If you have summer-ready products ready to go, that’s great but if not, clever copywriting and graphics can help you adapt your products and services to become relevant this summer bank holiday.
During a bank holiday weekend, consumers are expected to spend more on everything from home improvements and homeware to food and fashion. So, no matter what your e-commerce store sells and specialises in, there is a good chance you will be able to benefit from the bank holiday rush.
Plan your social content in advance
A little bit of preparation can go a long way across the August bank holiday, particularly when it comes to your social media content. Create and schedule content in advance that is aimed at your primary target audiences. Focus on relevant and eye-catching topics and try to keep to a regular posting schedule so your audience know when to expect content from you. You can also integrate some reactive posting and engage with customers in comment sections to help bolster that sense of community audiences are looking for.
Prepare your website for increased traffic
As with all busy periods of the year, bank holiday shoppers are looking for a seamless experience where they can find the products they’re looking for and the best deals that apply to them, quickly and efficiently. Make sure that your e-commerce site are ready for the influx in traffic and that your messaging, branding and product descriptions are all up to date, as well as any new pricing or discounted rates are applied.
Offer discounts and promotions
Consumers are aware that Christmas is just around the corner and are on the lookout for a bargain. So why not begin your summer sale at the beginning of the bank holiday weekend? This is an ideal opportunity to encourage sales, new customer purchases, and shift some old stock.
Having relevant deals with further entice consumers to make a purchase. With an extended weekend break, consumers have more time to search for the product they want at the price they want. To be in with a chance of securing the sale, cut through the noise to advertise your competitive bank holiday pricing strategy.
Use flexible payment plans
To persuade hesitant buyers, flexible payment plans, such as Klarna, act as a great incentive. Allowing customers to buy now and pay later in over four instalments is particularly useful for consumers looking to purchase items but don’t have the total value upfront.
The advantages for consumers are clear, flexible payment plans offer them the freedom to purchase how they please. But it is also undeniably a great way for e-commerce stores to drive sales.
What’s more, a convenient checkout experience is likely to appeal to consumers with the power of converting new buyers into loyal customers. Perfecting your e-commerce checkout can convert more leads, encourage more sales, and ultimately make you more money.
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If you’ve got an online store, we have the best solution for you. Providing you with a financial arm to your business through our sector experience, and skills with innovative technologie. To see how we can help you maximise the scalability of your e-commerce brand all year round, get in touch with Unicorn Accounting today.
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