According to the predictions, 2018 is poised to be the biggest online shopping year ever. More than a hundred billion dollars will be spent worldwide during the holidays this year and your business can benefit from those trends.
The truth is, there’s a lot of hype around holiday sales, and it’s hard to know what to believe and what is really hype. That’s why I decided to pull together some facts to help you decide whether or not a holiday sale or promotion is right for your business.
And to make it even easier for you, I’m offering a totally free 7 Day Holiday Sale Challenge to help you get started successfully. In it, I’ll walk you through all the decisions and action steps you need to take to run a smooth and profitable holiday promotion. Click here to download it now, and then read on to find 20 compelling reasons why it’s absolutely worth your time.
- Worldwide, online holiday sales totaled $108.15B in 2017, and experts are expecting significant growth this year. That means that your sale or promotion is poised to do better than ever before — if you do it correctly.
- Holiday sales can make up to 30% of a retailer’s annual revenue. Which means the fourth quarter can make (or break) your profits for the year, depending on how your holiday promotions go over with your customers.
- More than 70% of shoppers will spend with a new store or online retailer — which means it’s worth it to try to reach new audiences or reach out to existing subscribers, fans, and followers who haven’t made a purchase from you yet.
- November sales outperform December sales numbers regularly. That means that if you’re not prepared to sell in November, you’re missing out on a big portion of shoppers.
- In fact, as many as 29% of shoppers complete their shopping before Black Friday, which means that time is of the essence.
- Thanksgiving Day and Black Friday are predicted to be the biggest revenue days of 2018, showing 15–16% growth over 2017. You may or may not choose to participate in these hectic days of buying and selling, but this is a strong reason that you might want to.
- 33% of revenue of holiday sales happened over mobile in 2017, so make sure your website works well on mobile devices. This includes not just responsive browsing, but easy payment systems.
- Interestingly, websites that use Shopify saw 59.6% of their revenue come thru mobile devices!
- In a 2016 online survey, 22% of respondents said they would shop on the toilet. Make of that what you will.
- Email drives 27% of online holiday sales, so it’s important to send the right ones at the right time. That’s one of the main things I teach inside our Holiday Sales Business Class.
- The average American will spend about $1,000 on holiday shopping.
- And more than half of holiday shoppers will spend more than $150 on themselves, not on gifts for others.
- The average order value during the fourth quarter is around $84. If you can make good use of upsells, downsells and cross-sells, you can increase your average order value.
- Facebook advertising costs are predicted to rise by 140% this year — meaning that you have to have a strong sales strategy in place beyond just placing a few ads. Be aware that your ad spend has to be more strategic this year.
- Apparel, accessories, housewares, shoes, and makeup top the top five categories for holiday sales.
- According to one survey, 50% of respondents said they would buy clothing as a gift.
- While only you can decide if you want to offer a sale or a promotion, more than 75% of people in the same survey said that a discount would influence their buying decisions.
- About half of gifts purchased during the holiday season are pre-planned. That means that the other 50% are impulse buys! It’s a great opportunity to suggest gift ideas to potential buyers.
- Pet owners spend, on average, more than $60 on gifts for their pets. So, if you sell pet goods, you can take advantage of that as well.
- A 2016 study showed that the average consumer would spend more than $200 on decorations, food, flowers, and cards. So don’t miss out of you sell items that aren’t gifts, but do help people celebrate!
Do these facts change your opinions about running a holiday promotion this year? I think they’re pretty convincing! If you’ve made up your mind to run a holiday promotion this year, then I highly recommend join our 7 Day Holiday Sale Challenge now. In it, I’ll walk you through all the decisions and action steps you need to take to run a smooth and profitable holiday promotion.