The post-pandemic world is on the recovery track from a long period of stagnation that dramatically changed several aspects of the global economy. The economic slowdown pushed many businesses on the verge of shutdown and bankruptcy, with a sharp decline in demand and supply.
As per the Organisation for Economic Co-operation and Development (OECD), the first half of 2020 witnessed drops in both global industrial production and goods commerce that were comparable in depth to those at the height of the Global Financial Crisis since World War II.
While Indian shoppers are now getting back on track with revenge shopping, businesses are on the path of recovery too. According to e-commerce tech firm Unicommerce, festival order volumes for tier three cities increased by over 32% year over year while tier II volumes increased by over 20%. One-tier cities reported a 28% increase in order volume. Data for more than 7 million orders made on September 23 and 24 with sales on October 3 and 4 in 2021 were analysed by Unicommerce.
Regarding sales in the retail industry, it is important to note that peak season generally occurs during the months of November and December. This is due to the holiday shopping rush that takes place during this time of year. For retailers, this is an important time to boost sales and bring in more revenue. By offering promotions and discounts, they are able to attract more customers and generate more sales. This is why peak season is so important for retailers and why they often focus their marketing efforts during this time.
Significance of Festive Season for Indian Brands in Boosting Sales
The festive season plays a significant role for Indian brands as it is the time when most people are in a buying mood. Brands leverage this opportunity to launch new products, offer discounts and promotions, and create marketing campaigns that resonate with consumers.
During the festive season, brands also focus on re-engaging with their existing customers and reaching out to new ones. This is done through various marketing channels such as television, radio, and online, and offline advertising.
The festive season is thus an essential period for brands operating in India. It is a time when they can make the most of the buying sentiment and generate significant sales and revenues.
Tips to Boost your International Sales in Peak Season
1. Personalize the shopping experience of your customers
Today, 80% of consumers are more likely to make a purchase from a company that offers individualised experiences. Brands should be able to offer relevant specialized services online, just as they would in a physical store where the salesperson is aware of what a consumer is looking at and how engaged they are.
By combining visitor behaviour data with marketing automation, it is possible to create customised experiences for every visitor based on where they are in the buying process. Providing a good post-purchase experience to your customers, putting the focus on their browsing history, and initiating live chat during checkout time can help in the process.
2. Research your target markets
Demography plays a vital role in deciding your target market and consumer base. Though you can cover the major global markets in order to promote your brand, particularly selecting countries with a major migrant population would be beneficial for you in a long term. Countries like the USA, Canada, Saudi Arabia, Russia, etc., have large numbers of students and immigrants who can act as your proactive customer if you have a relatable product to offer.
You can keep in touch with these customers during the festive season by sending them emails, SMS alerts, etc., and by advertising the products which appeal to them.
3. Make a statement with interactive ads
Peak sales periods are one of the most competitive times of the year for advertising for retail enterprises. By using rich media interactive advertisements to promote your campaigns across paid channels, you can avoid banner blindness and cut through the clutter. Brands may offer distinctive ad experiences that boost conversion rates by using interactive advertisements.
4. Tie up a reliable logistics partner
Shipping and logistics are one such operation that can give you a severe headache during peak festive seasons if you are just a newbie in the market. As an e-commerce business owner, you have to prepare yourself to fulfil all the bulk orders on time and this will require you to outsource your logistics to a competitive and reliable shipping service provider.
India’s leading logistics aggregator company NimbusPost provides the most reliable tech-enabled shipping solutions to a plethora of eCommerce businesses of all sizes, by tying up with the best courier partners in the country like Blue Dart, Delhivery, XpressBees, through their unified integrated platform. Their domestic and international courier services, and global warehousing and fulfilment solutions across 196+ countries enable global e-commerce businesses to conduct seamless cross-border trade at all times of the year.
The company also offers affordable freight forwarding services through their platform which enables hassle-free import-export of goods within reasonable rates.
5. Adopt better social media strategies
The use of social media for holiday promotion ideas can be very beneficial. Your social media approach for the holidays should be centred around the holiday and its celebration of joy. Determine which social media platforms are most effective for your e-commerce channel first. Organize your marketing initiatives around those users and channels.
Start your holiday celebrations by upgrading your social media profiles’ banners, cover photographs, and other visual elements. The amazing sales, coupons, and promotions that your followers may look forward to should be highlighted in your social media advertising.
As per the report of UNTCAD, “the value of global trade overall hit a record level of $28.5 trillion in 2021.” That is an increase of 25% over 2020 and an increase of 13% over 2019 prior to the COVID-19 pandemic.
Now is the high time for e-commerce businesses to make their way into the international markets by adapting to the changing trends in markets and addressing the needs of their customers.