Valentines Day 2020

 

Happy Valentines week!

Just like your webshop, love is in the air again. But are you prepared for this year’s valentine’s day? This year, ICEPAY has joined forces with PPRO to give you some handy tips and tricks on how to optimally prepare your webshop and increase revenue by boosting your sales! Curious how you increase the sales in your webshop this Valentines day? Keep reading!

Who are the consumers on your webshop on Valentine’s day?

A survey by the National Retail Federation and Prosper Insights & Analytics shows that 72% of adults aged 18-36 plan on celebrating Valentine’s day. Of these young adults, men spent almost twice as much as women and the biggest spenders live in Spain and the USA. Not all of these young consumers splurge on their romantic partners though. Valentine’s day is about sharing the love with everyone! Young people increasingly spend money online to treat themselves, their family, friends and beloved pets.

What do these young people buy?

Research shows that traditional gifts like flowers, jewelry, sweets and greeting cards remain some of the most popular gifts on Valentine’s day and are increasingly ordered online. Last year, a whopping 7x more flowers were sold online than the year before! However, a whole category of other gifts is on the rise! No other group in society owns as many pets as our millennials. On third of all millennials, the group spending most on Valentine’s day, have pets. And they especially love to splurge on their animal companions on holidays like Valentine’s day. Research also shows that ‘the gift of experience’ has become increasingly popular to share with a loved one on Valentine’s day, especially among younger consumers. Lovers seem to value experiences over material goods more than in the past and give each other nice dinners, concert tickets or make travel plans on Valentine’s day. 39% ]of those 18-24 and 45% of those 25-34 plan to give an experiential gift, making it the most popular gift in 2019!

When are customers buying Valentine’s day presents?

Shopping happens last minute with the majority of Valentine’s purchases being made on February 13th and 14th, with 47.4 million transactions performed globally on that day alone over the past three years. Valentine’s Day is celebrated on a Friday this year, so most lovers will either buy online presents a few days ahead or on the day itself.

How can you prepare your webshop best?

In the week leading up to Valentines day, try to target and attract younger consumers to your webshop with things that spark their interest, this group is most prone to spend on Valentines day gifts or experiences for their beloved ones, friends or even pets!

 

How to attract them, you may ask? The following tips provided to you by ICEPAY & PPRO should definitely help!

  1. Content above all

Make sure your website is looking good and working properly. Did you know you have only around 5 seconds to impress an e-commerce visitor? To spark the interest of millennials the content on your webshop page is very important. According to BigCommerce, the #1 thing shoppers want from an online store is a product image. After all, images are crucial in giving your visitors a sense of what they may potentially be buying. Good quality pictures of your Valentine’s Day deals should be placed in immediate eyesight with attractive prices. If your images are beautiful, clear, crisp and attractive, then your visitors will be more willing to buy from you. Pictures that have a low resolution are unappealing. Some ecommerce stores even have stretched out images on their websites. Low quality images might give potential customers the impression that your products are low quality or cheap, which doesn’t give your visitors a lot of confidence in your business.

  1. User experience is everything

Your website and webshop check-out should be easy to use and work properly. In order to check the user experience of your website, think like one of your customers! Go through your site as if you were one of your visitors and see how easy or difficult it is to search for or buy something. Baymard’s research shows that two thirds of online purchases are abandoned, with 27% of people citing complicated checkouts as the reason. If you can improve conversions enough to recover even a fraction of abandoning visitors, you’ll increase revenue from your site.

Some ways to do this are:

  • Declutter your checkout page, make sure it’s clear where shoppers are in the checkout process, for example, with a progress bar.
  • Remind people what they’re buying, with product images on the checkout page.
  • Include trust seals and shipping information, so they know exactly what they’re paying.
  1. Make it Mobile

You may not know it, but mobile is a huge factor in the success or failure of your store. Since mobile device sales are increasing every year, we suggest you have a website that is also compatible and looking good on a mobile phone. Right now, 22% of millennials prefer to shop on their mobile device and according to “E-Commerce Trends,” 72.9% of online purchases will be made on mobile phone in 2021. Not mobile-optimized online stores lose a lot of sales right of the bat and sell much less than mobile-optimized ones. Did you know that more than 30% of mobile shoppers will abandon an online store that isn’t mobile-optimized before checking-out?

  1. Leave the shipping costs

As a nice Valentine’s day surprise: offer shipping’s for free on Valentine’s day and watch your sales skyrocket! Shipping costs kill conversions. That’s why so many of our eCommerce retailers offer free shipping. According to the Baymard Institute, around 61% of people abandon shopping carts because of high costs, including shipping costs.

  1. Offer preferred Payment Methods

Your customers love their local payment methods! Did you know that 77% of online purchases in Europe are paid for by using a local payment method? In some countries this number is even significant higher. Shoppers who do not see their preferred payment method offered during check-out will not continue straight with buying your products and 55% of these customers will eventually abandon the transaction all together. At ICEPAY we therefore always recommend you offer your customers a trusted local payment method at check-out. Want to learn more about the local payment methods we offer and which local payment methods could be beneficial to your business? No worries! Please send an e-mail to: info@icepay.com or give us a call at: 020 700 999.  Our payment experts are available during normal business hours and will be very happy to assist you and give you free, personal business tailored advise.