The eCommerce penetration in India has grown from 3% last year to 4.8% today owing to the lockdown restrictions due to the pandemic. We are still a little less than a quarter of the penetration that the US is seeing at 18.6%.
With the festive season upon us consumers have a plethora of offers pouring into their inbox that they are utilising to its optimum. To give an example, the Big Billion Day sales by Flipkart in the first five days itself saw a 10X increase this year as compared to the year before.
Despite the festive season almost coming to a close, you can employ a few D2C eCommerce tactics to still make the most of it. Here are a few that we highly recommend:
1. Combos and gift hampers
Over the years we have noticed that price does not act as a major factor while making purchase decisions during the festive season. It thus makes sense to increase the average order value as much as possible. You can do so by making combos and gift hampers using the various products available on your website. This year, with the pandemic, as fewer people travel home to be with their loved ones for the festival, using an eCommerce platform is definitely expected to increase.
2. Target past buyers
If you have been in the online space for more than a year, fortunately, you have data about your consumers from the previous year’s festive season. On the other hand, if you are new to the online space, utilise the consumer insights you have from the festivals that have gone by. These insights will help you to create more personalised recommendations that you can leverage to convert a customer from consideration to purchase stage.
3. Accelerated Mobile Pages (AMPs)
More than 75% of searches are happening on mobile devices now. It has become increasingly important that websites have a low page load time on mobile devices as well. Most consumers want your page to load within 3 seconds of tapping on the link. Accelerated Mobile Pages (AMPs) are specifically designed for the mobile platform. They load faster and your chances of losing a consumer are low.
4. Abandoned cart emails
Consumers often like to check out all the offers available to them before making a decision. This leads to a lot of them adding items to their cart without actually checking out, a phenomenon commonly known as “abandoned carts.” If targeted properly, these customers are your best bet to convert into a sale. A common practice in the industry is to send reminder emails about products waiting in their carts. We have seen that brands do 3 emails during this time in hopes of converting these customers. The first one acts as a reminder. The second email is to create a sense of urgency to check out soon. The third and most effective is the one where you make a compelling case for the consumer to make a purchase. This is usually achieved by sending limited time period offers.
5. Ship close to the festival dates
A lot of brands decide to stop shipping four days before the festival due to the burden on the shipping. However, this also indicates a loss of 3 days of sale which could be the biggest revenue earning days for a brand. To combat this, various brands this year have set up warehouses near hotspots like Mumbai and Delhi. For the smaller brands, this idea may seem like a big capital investment. A more cost-effective method is to work on a revenue-sharing model with logistic companies. This way one manages to keep selling till the last date with expedited shipping.