Expert tips on how to prepare your business for the holidays
An expert guide on prepping your business for holiday sales
While the warmth of summer lingers in North America, savvy business owners and entrepreneurs understand the role of planning & preparation for the upcoming 2023 holiday season. It’s time to cast our gaze towards those incredible shopping extravaganzas that captivate millions of consumers worldwide, including Boxing Day, Christmas, Black Friday, Cyber Monday, New Year, and other occasions.
Whether your ecommerce operations are based in the United States, Canada, or Mexico or elsewhere in Europe, Asia, Africa, or Latin America, there’s no denying the buying power of the holiday season. For many retail operations, holiday sales are sacrosanct – businesses that fail to plan for holiday sales inherently plan to fail.
As the holiday season approaches, the world slows down, people take time off, and purchasing power escalates. As your resident in-house business experts at Payoneer, we are committed to equipping you with the ultimate advantage to conquer these grand festivities and thrive.
- Unveiling the secrets of holiday success: In this exclusive article series, we will unveil a treasure trove of ecommerce strategies crafted by industry visionaries to help you harness the full potential of these iconic shopping events. Discover how your steadfast partner, yours truly can empower you with insights and resources to curate a holiday season that leaves your competition in awe.
- Proactive planning: Christmas, New Year, Black Friday, Cyber Monday, Boxing Day, Easter—these aren’t just days on the calendar; they represent unparalleled opportunities for business growth. By starting early and planning meticulously, you position your business to ride the crest of the holiday wave. Join us as we delve into the world of proactive planning, sharing tips and techniques that will elevate your preparedness to new heights.
- Mastering the art of captivating shoppers: The holiday season brings an influx of eager shoppers searching for the perfect gifts and irresistible deals. We will guide you through the art of captivating your target audience, leveraging our extensive expertise and insights to create compelling offers, captivating marketing campaigns, and seamless customer experiences. Transform your business into a holiday shopping destination that stands out amidst the seasonal frenzy.
- Financial fuel for a stellar season: Fuel your holiday success with our exclusive features, functions and capabilities. Whether it’s expanding your inventory, launching enticing discounts, or amplifying your marketing efforts, we’ll explore how we can provide the boost you need. Prepare to unlock a world of possibilities and skyrocket your business’s growth during the most lucrative time of the year.
- Partnering with a winning platform: As sales soar during the holiday season, managing payments and payouts become paramount. With us by your side, you can access a robust suite of payment solutions tailored to your unique business needs. Seamlessly process transactions, offer secure and convenient checkout experiences, and manage international payments through our trusted platform effortlessly.
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What is Joom?
Now, let’s take a look at Joom.com. This mobile-optimized marketplace features top-tier merchandise from sellers across Europe and Asia.
When preparing your business for the holidays, one name stands out as a top-notch option: Joom.com.
As an international group of ecommerce and fintech companies, Joom.com is committed to assisting consumers and businesses worldwide in their everyday experiences. With its global presence and diverse range of services, Joom.com has established itself as a trusted partner for holiday success.
So, what is Joom?
Founded in Riga, Latvia, in 2016, Joom.com has expanded its operations to various locations, including Portugal, China, the USA, Germany, Luxembourg, and Hong Kong. Their team of 500 professionals works tirelessly to ensure that individuals and businesses receive exceptional holiday support. Take a look at this company’s standout features:
- Joom.com: Trusted international ecommerce and fintech group.
- Joom Marketplace: Global savings-driven online marketplace.
- Onfy: Convenient and affordable German online pharmaceutical marketplace.
- Joompay: Seamless fintech service for secure daily financial transactions.
- Joom Logistics: Cross-border eCommerce logistics and infrastructure solutions.
- JoomPro: Simplified platform for efficient cross-border wholesale trade.
The importance of holiday sales in the United States (2002-2022)
Source: Statista holiday retail sales in the United States from 2002 to 2022 (USD billions)
Insights from Statista data
In the United States, the winter holiday season is significant for retail sales and ecommerce growth. Let’s explore some key insights:
- Robust holiday retail sales: The holiday retail sales forecast for 2022 in the United States was estimated to range between $942.6B to $960.4B U.S. dollars. This represents a substantial increase from approximately $416B back in 2002.
- Shopping occasions for the season: The winter holiday encompasses notable shopping occasions, including Thanksgiving weekend (Black Friday, Small Business Saturday, and Cyber Monday), Super Saturday (the last Saturday before Christmas), and Christmas itself. Thanksgiving weekend, especially Black Friday, draws massive consumer participation, with over 100 million U.S. consumers engaging in holiday shopping in 2021.
- Leading players in U.S. retail: The U.S. retail market is highly competitive, featuring prominent companies that achieve significant retail sales. Renowned for its low prices and extensive product selection, Walmart holds the top position among retailers in the United States. Other notable industry leaders include Target, Amazon, Costco, and The Kroger Co.
As the winter holiday season approaches, businesses strive to capitalize on the opportunities presented by increased consumer spending. Stay tuned for further insights and strategies on how we can help businesses like yours thrive during this vibrant period.
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One on one with the pros at Joom – How to prepare your business for the holidays
- How to prepare your business for the holidays and maximize sales – what’s the best advice for eSellers?
When it comes to getting your eStore ready and maximizing sales during the holiday season, one crucial piece of advice stands above the rest: Preparation. Your strategy should be meticulously planned well in advance to ensure a successful and lucrative peak season. This goes beyond just marketing operations and promotions – it encompasses several essential elements.
The first thing to do is evaluate your inventory. Ensure you have sufficient stock to meet the heightened demand during the holiday rush. Running out of popular products can be a missed opportunity for sales. Plus, ensure that your support team is well-prepared to handle the increased flow of customers. Prompt and effective customer communication is vital. Your customers should feel your presence, assistance, and unwavering commitment.
When potential customers visit your store, they may hesitate to make a purchase. This is where your support team plays a crucial role. They should be readily available to provide guidance, answer questions, and alleviate any concerns. Consider offering multilingual support to cater to a diverse customer base and create a personalized shopping experience.
Remember, a comprehensive approach is the key to preparing your business for the holidays. It’s not just about enticing customers with promotions but also ensuring smooth operations, robust inventory management, and outstanding customer support. By putting these measures in place, you can create an environment that instills customer confidence, leading to increased sales and long-lasting relationships.
- What are the latest ecommerce trends on Joom?
In the ever-evolving world of ecommerce, one of the prominent trends observed on Joom is the rise of influencer collaboration. With 50% of customers placing more trust in influencers on social platforms than traditional brand advertising, this trend has become a powerful tool for sellers.
Influencers can captivate customers with compelling stories, lifestyles, and the enchantment surrounding products, driving them to purchase. Recognizing this, Joom has embraced influencer marketing, reinforcing internal blogger communities and conducting extensive product testing. These efforts have resulted in more customer reviews and increased confidence in Joom’s products.
As the pandemic has reshaped consumer behavior, customers are now seeking higher-quality products at affordable prices. In this context, influencers play a crucial role in helping customers make informed buying decisions. Joom understands the significance of this trend and has harnessed the potential of influencer collaborations to empower customers. By fostering genuine connections and facilitating authentic customer reviews, Joom ensures that customers can purchase confidently.
At Joom, we are committed to staying at the forefront of ecommerce trends. Through influencer collaboration and customer empowerment, we continue to enhance the shopping experience. Together with our vibrant seller community, we create a platform built on trust and shared experiences, fostering a dynamic and engaging ecommerce environment.
- What features do you want to share with our eSeller about improving holiday season selling success?
As we delve into working with influencers, here’s a valuable tip to boost your success: prioritize promoting goods you have ample stock of. It’s crucial to ensure that when a positive blogger review inspires a client, they won’t face disappointment due to unavailability.
This proactive approach minimizes customers’ risk of abandoning your store and ensures a seamless shopping experience.
It’s equally important to explore the potential of game mechanics to drive remarkable results. Drawing inspiration from our recent successful birthday promotion, we witnessed an outstanding 40% growth in Gross Merchandise Value (GMV) compared to a typical day on Joom.
The key catalyst was the implementation of a captivating ‘reward wheel’ feature accessible to our web and iOS customers. This interactive tool offered conditional coupons and enticed 90-100% of customers to spin the wheel.
Embracing such engaging tools can infuse a sense of excitement and enjoyment into the shopping experience, fostering customer loyalty and encouraging repeat purchases.
As you prepare for the upcoming holiday season, consider leveraging these special features to elevate your success.
By working closely with influencers, ensuring stock availability, and integrating captivating game mechanics, you can create an immersive shopping journey that delights customers and drives greater conversions.
– Alexander Zaitsev, Head of Business Development, JOOM Europe.
Stay tuned for more valuable insights from our upcoming feature on Allegro.com. In the meantime, we extend our warm wishes for a productive planning period and a highly successful holiday sales season!
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We’re here to help you build a business
As all-in-one payment solution experts, we understand the diverse needs of businesses, especially during the holiday season. That’s why we offer a comprehensive payments solution that manages all your marketplace payouts efficiently and provides working capital to give you that extra boost when you need it most.
Payoneer’s services extend beyond payment processing, enabling you to easily handle supplier payments, VAT obligations, and more, all at incredibly low costs.
With Payoneer, you can unlock the power of earning globally while maintaining a local presence. Our innovative solutions empower businesses to expand their reach across borders, accessing new markets and customer bases. We answer all your questions like What is Joom and how can it help with holiday sales? Plus, we provide workable solutions tailored to your ecommerce business.
With Payoneer, you can seamlessly transact in multiple currencies, benefit from competitive exchange rates, and enjoy swift and secure transactions, all backed by our robust compliance measures and dedicated customer support.
Join the global network of businesses relying on our trusted services to streamline operations, optimize finances, and propel growth during the holiday season and beyond. Let us partner with you to navigate the complexities of international commerce, so you can focus on what you do best – driving your business to new heights.
Ready to start receiving payments from Joom and other global marketplaces?