Apparel retailers are always looking for new ways to increase sales in retail without losing out on profit. In this article, we share some key tips on ways to drive revenue while protecting your margin.
Tips to Increase E-Commerce Sales
Revamp Existing Marketing Efforts
When it comes to ways of increasing e-commerce sales, sometimes the answer doesn’t involve reinventing the wheel. In this instance, improving your existing content marketing efforts can boost retail sales performance.
For instance, by their very purpose, transactional emails are the low-hanging fruit you want to take full advantage of. These emails are sent to deliberately target the right customers at the most opportune time to facilitate a sale.
So tweaking your transactional emails can lead to a quick turnaround when it comes to impact.
To show the value and potential behind transactional emails, marketing experts Marketing Land referenced Experian to state “ transactional messages receive open rates eight times greater than non-transactional marketing emails.”
Retail brands who have taken this knowledge and run with it include international brands like Sephora. To encourage their shoppers to make repeat visits, Sephora strategically placed a ‘P.S.’ accompanied with relevant product options in their shipping confirmation emails.
Review your transactional emails and see what you can optimize or change to increase first-time or repeat sales.
Expand Your Loyalty Program
Research has shown that customer retention can be beneficial financially to retailers. Targetting loyal customers is a good way to increase profits because these customers have already shown they trust your brand and are willing to part with their hard-earned cash to prove it. And one of the ways to transform customers into repeat shoppers is with an attractive customer loyalty program.
These days customers expect a loyalty program to be part of the consumer experience. In a saturated market, having a traditional and basic ‘bread and potatoes’ loyalty program just won’t cut the mustard.
According to the customer marketing platform, Annexcloud.com, ways to expand your current loyalty rewards include incorporating “social and behavioral actions, such as referral rewards and points for user generated content, while also attempting to provide their customers with a more personalized experience.”
Looking for inspiration? Retail marketing agency, Customer Communication Group, Inc. lists The North Face among the retailers doing a great job of leveraging their loyalty program. According to them, the brand’s VIPeak program drives sales in a “unique and engaging way” because “members can redeem their points for exclusive products featured in the rewards catalog or use them to purchase unique guided outdoor trips.”
Install Our Size Advisor Tool, Fit Finder
Fit Finder is a size solution that offers size and fit recommendations to men, women, and children across all categories of apparel and footwear.
The intuitive tool is powered by machine learning algorithms and the apparel industry’s largest dataset.
Since it’s launch in 2013, Fit Finder has provided accurate size recommendations to leading retailers like ASOS and Tommy Hilfiger. Adopting Fit Finder has been proven to slash returns and increase conversions. For every conversion, there is a higher likelihood of winning a sale.
If you’re looking to increase e-commerce sales, using the scientific method applied by Fit Finder to help your customers choose the best fit – as opposed to relying on traditional methods like static size charts – has been proven to be more rewarding for retailers.
For instance, after adopting Fit Finder, THE ICONIC (an Australian apparel and footwear retailer) experienced a 5.9% higher net revenue for Fit Finder users attributable to higher conversion rates and a lower rate of return.
And the go-to heritage apparel brand, Alpha Industries saw a 6.23% spike in net sales for Fit Finder users in just under a month when the brand invested in Fit Finder.
Contact us to learn more about how Fit Finder can help you sell smarter.
Image credits – Austin Distel and Clark Street Mercantile