As the decorations and holiday music in the mall are broadcasting, the holiday season is rapidly approaching. Although most profitable online retailers already have their holiday strategies well underway it’s not too late to be reminded of 8 tips on how to make the most money possible this holiday season. Retail Online Integration caught up with GoECart’s CEO Manish Chowdhary for a recent article detailing his must-read advice.
Chowdhary’s first tip to online retailers is that they MUST extend their reach across multiple sales channels. Increased exposure is increased sales potential and consumers this holiday season will be sure to visit multiple shopping destinations to comparison shop. Chowdhary provides the example of Game Quest Direct, a wholesale video game seller who is currently utilizing an integrated e-commerce and order management platform to sell its 10,000 SKUs simultaneously across 15-plus sales channels reaching many customers who had not previously visited the company’s website.
A second tip offered by Chowdhary is that successful merchants must match price drops as they happen. This is possible by utilizing an automated reprising tool that makes product price adjustments in response to changes in competitor’s prices on marketplaces such as Amazon and eBay. These automated tools are particularly useful in warding off costly price wars because competitors know they can’t beat your prices.
Increase your profits this holiday season by checking out all eight of Chowdhary’s must-read tips in the Full Article.