19 Aug 10 Holiday Prep Tips for Your eCommerce Business
There’s an undeniable nip of cold in the air and the Holidays are just around the corner. Soon the waves of eager customers looking for holiday gifts for friends and family will flood online and physical shopping venues all over the world. Once, shoppers would have had to perform their yearly pilgrimage to the shopping malls to get everything they need but today, eCommerce is the new crowd-free shopping mall alternative. Of course, what this means is that no matter how small your eCommerce site, you’re likely to see a massive boost in sales as the holiday season rolls around. Are you ready?
Here are ten great tips to face the holiday onslaught of orders, thrive, and come out the other side with more revenue than you can shake a stick at. While you may be exhausted from restocking and shipping by New Years, you’ll be able to rest easy knowing that next year could be even bigger. All you have to do is prepare correctly and your inventory will be flying off the shelves in no time.
1) Stock Up on Inventory Early
First and foremost, the holidays are a season of shopping. No matter what you sell, if it would make an interesting, lovely, or useful gift you are likely to sell a lot of it. Your primary goal over the holiday season is to avoid the dreaded ‘out of stock’ sign. Make sure to stock up extra goods before the buying frenzy starts and be prepared to restock at a moment’s notice. Running out of an item people want to buy means lost sales, lost revenue, and potentially lost customers as they look somewhere else for the item they would have bought from you. Make sure your inventory is ready for the rush.
2) Make a Fast-Restock Plan with Your Suppliers
Most industries, even homemade handicrafts, have some kind of supplier. If you are working with any 3PL (third-party logistics) companies who supply you or help you with other logistical tasks, give them a heads up about your holiday preparation plans. Make sure to get your restock orders in early, while there’s still plenty of inventory left, so you never fully run out. If you are running any special promotions on specific items, let your partners know about the potential extra orders as well.
3) Clearly State Shipping and Return Policies
To reduce the number of confused or unhappy shoppers calling your customer service, make sure your policies are clearly stated and highly visible during the shopping experience. Clearly state shipping policies and give estimates based on selected shipping method early and display it prominently so customers can calculate against their own busy schedules. Clearly stated return policies will help customers make their return decisions quickly to comply.
4) Make a Holiday Promotions Calendar
The final cluster of holidays aren’t the only ones you can promote, celebrate, and make extra sales from. Make a calendar of every holiday you plan to participate in along with the featured items and promotions you’d like to associate with them. Don’t forget specialties like Free Shipping Day and Green Monday, which are special holidays just for retail venues. Publish your promotions calendar so your customers can come find deals on those special days.
5) Website Speed, Load Capacity, and Security
While you may be doing tons of hard work on promotions, images, and planning, it’s your website that brings the orders into home-base. It needs to be fast or people will wander off, it needs to handle a lot of customers at once without crashing, and it needs to be secured against potential hackers trying to ruin your lucrative holiday season. If you’re not an IT expert, work with a freelancer or agency to beef up the durability, security, and speed of your eCommerce portal before the rush and consider arranging for steady IT support until the holidays are over.
6) Festive Item Images
People buy based on a lot of things, but their final decision is often based on the images. Do a full assessment of your listed item images and make sure they are big, detailed, well-lit, and complimentary from all angles. Any sub-par images should be re-shot to make sure your entire inventory is literally presented in its best light.
7) Featured Items and Gift Ideas
If there’s one thing shoppers need in the months leading up to the holidays, it’s gift ideas. Make and feature special lists and item categories that would make good gift ideas for categories of people like ‘dad’ or ‘best friend’ or ‘girl children’ as these will help people organize their thoughts and find the perfect gifts. Don’t be shy about throwing your overstock items into the featured lists. If they are perfect for someone, it’s a great way to clean out old inventory.
8) SSL Secure Your Website
You know that little green lock on the left-hand side of your browser address bar? That indicates that a website is safe. The browser knows this because the website domain and IP address are registered with the SSL system and the site you’re visiting matches this registration. This tells visitors that they are on the real website and not some hacker-spoof built to steal credit card information. If your eCommerce portal is not yet set up to be SSL secure, now is a good time.
9) Increase Customer Service
Have no doubt, customers want the same level of customer service no matter how many of them are swamping your phone and chat lines. They expect prompt answers, fast solutions, and considerate upbeat service and it’s your responsibility to provide this. If you can, consider hiring extra customer service staff for the busiest part of the holiday season. This will allow you to continue providing top quality responsiveness and service without overworking your regular staff. Make sure to brief the entire team on how to maintain a unified response to things like special requests, shipping delay notifications (practically inevitable), and standard procedures.
10) Optimize the Checkout Process
Getting customers to come shop is one thing but closing the deal and getting their virtual carts to the finish line is often its own special challenge. To optimize your checkout process, there are a few things you can do. First, make your shipping estimates clear early on so shoppers know as soon as possible whether or not their items will arrive ‘in time’ for their plans. Next, display shipping fees as soon as they select a shipping method and consider integrating more payment options to make it easier for more people to buy from your store. Finally, try to optimize the page load time for checkouts as waiting more than three seconds result in impatiently abandoned carts.
The holidays are an exciting and festive time for shopping, buying, and commerce in general. Preparing your eCommerce site is important, but it doesn’t have to be a hassle. Get into the holiday spirit and have some fun designing your promotions and featured items lists. Just make sure your website, inventory, and shipment fulfillment are up to the increased traffic and you’re ready to restock your inventor at a moment’s notice. For more small business tips in and out of the holiday season, don’t hesitate to contact us today! Here at Ottawa Logistics, helping eCommerce businesses handle high volume orders is what we do best.
SEC Puts $7.6 Million Fine on Crypto Invention Database
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How Archer Swap Has Helped End Ethereum’s Bidding War
Most DeFi users have heard of Ethereum’s high congestion issues, but few are aware of the controlling forces operating behind the scenes, and how badly they can be impacted by this single problem. When traders send a regular transaction via the Ethereum network, it is susceptible to attacks from bots or front-running software run by entities seeking to profit from trader activity.
Ethereum’s ecosystem is perhaps amongst the fastest growing in the crypto space. Thus, there are already many solutions that tackle this issue and operate for the benefit of the users and decentralized exchange (DEX) traders. Most of them have gone under the radar.
Archer Swap is part of the Archer DAO, a project with features designed to mitigate the risks associated with sending transactions on Ethereum. It protects users from Miner Extractable Value (MEV) strategies, sandwich attacks, and front-running bots while maintaining a connection with Uniswap and SushiSwap, two of the most popular DEXs on Ethereum.
In this sense, Archer Swap can be described as a DEX extension that enhances the trader experience on these dApps. This protocol combines two powerful sets of features that give traders improved operations on Ethereum – protecting them and making trades more cost-efficient.
The first set of benefits are called Archer MEV Shield. Besides protecting transactions from bot attacks, it allows users to eliminate failed transaction fees, a recurring problem on Ethereum. Traders can also cancel transactions at no additional cost.
The second feature is called Archer Trader Extractable Value (TEV), a proprietary and innovative concept introduced by Archer Swap. Operating within the Archer Relay, Archer TEV uses automated rebalancing transactions with bots to sync market prices when big market moves occur.
After a trade or a big swap, there is usually an arbitrage opportunity in a market. Archer TEV uses these opportunities to capture the value and redistribute it to Archer Swap users. In essence, Archer TEV takes revenue generated by Archer Swap and gives it back to one of the protocol’s core components, the traders.
Archer Swap Launches Campaign To Reward Traders
Following a community vote, Archer DAO recently launched a 6-week campaign to buy back and distribute its native token ARCH. In this way, the protocol can reward early adopters. The tokens will be acquired with the revenue generated by Archer TEV.
The protocol won’t have to touch its treasury reserves to attract new users to the platform. The protocol and the users will benefit – as more users trade on Archer Swap, the campaign will have more resources to acquire and distribute ARCH. Therefore, the token will most likely see an increase in buying pressure during the coming weeks, and the platform will see a surge in the number of users.
Archer DAO will distribute rewards every Friday from June 11th to July 16th, 2021. The platform will calculate rewards for each user based on their transacted volume for each week. The rewards will be delivered automatically and with basically 0 risk for the users, all they need to do is trade.
Archer Swap has had famous trades. In May, during the high of the dog meme coins, the inventor of Ethereum, Vitalik Buterin, used Archer Swap to dump his supply of Shiba Inu (SHIB), AKITA, MIRI, ELON, and others into the market.
The dump served a good cause, as Vitalik used this money to send over $1 billion to different charity organizations. The most notable is the Covid-19 relief campaign for India started by Polygon’s co-founder, Sandeep Nailwal. This trade could be among the most famous in 2021 and was enabled by a protocol whose main objective is to shield its users and give them back the power to operate safely within the Ethereum dark forest.
Crypto Crash Trends On Twitter As Bitcoin Falls Below $30,000
Twitter has gone into a frenzy after bitcoin fell below $30,000 this morning. The hashtag #cryptocrash is currently trending on the platform. This is after the coin broke the $30,000 stronghold and fell below it. A price that has been a stronghold for bitcoin for a while now. Speculations were that as long as the asset didn’t fall below $30,000, then there would be a recovery.
Related Reading | Galaxy Digital CEO: Bitcoin Dips Should Be Bought Despite BitMEX News
Bitcoin has been in a downtrend for a couple of days now. News of mining rigs closing down in China pushing the price even further down. Falling below $30,000 means bitcoin is about to erase its gains for 2021. The coin was trading at $29,001 n December 2020. Only breaking the $30,000 barrier in 2021. Now bitcoin is trading at only 3% gains for the year 2021.
Bear Market Trends
Richard Bernstein was on Trading Nation two weeks ago to talk about the trends in bitcoin. The CEO called bitcoin a bubble. He pointed out that bitcoin was currently in a bull market. Noting that people were leaving the markets that were actually in a bull market behind.
Bitcoin crashes below $30,000 before recovering back up to $32,000 | Source: BTCUSD on TradingView.com
Bitcoin has been struggling for the past two months. This was after the coin finally hit the all-time high of $64k in April. There was a lot of speculation that the coin was headed for $100k. But it seems the asset had other plans.
Analysts have compared this to the 2018 crash. When bitcoin hit a new ATH of nearly $20k and then proceeded to lose 80% of its value. At one point trading at a little over $3k.
There Is Still Hope For Bitcoin
Novogratz further explained that calling a bottom on the crash is hard to do. This he attributed to the large liquidations currently taking place across a number of assets.
With regards to the $30,000 price level, Novogratz said, “We’ll see if it holds on the day. We might plunge below it for a while and close above it.”
Related Reading | Over 3 Metric Tons Of Bitcoin Mining Rigs Airlifted Out Of China
The co-founder of Galaxy Digital noted that he wasn’t worried about the price crash. Explaining that he does not expect another crash of the 2017 magnitude to occur again. This he chalked up to the maturity of the ecosystem. Pointing out that much more mature players are now moving into the system.
“Every single bank is working on their own crypto project, how they can get bitcoin to their wealthy clients. I think a lot of clients that didn’t buy it the first time will see this as an opportunity to buy it and get involved.
– Mike Novogratz, CEO of Galaxy Digital
Twitter users have taken to the platform to express their opinions on the current market movements. There are countless tweets asking people to not panic. That the market is going to recover. And right now, it is starting to look like they’re right as the market has gone back into the green. Bitcoin is currently back up to $32k, after a dramatic price drop below $30k.
Featured image from Forbes, chart from TradingView.com
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