E-Commerce and ePos experts Citrus-Lime have reported a 55% spike in online sales during “Cyber week” with its bike shop clients and, importantly, not all on low-margin and discounted transactions.
First of all, what is “Cyber Week”?
‘Cyber Week’ doesn’t appear to be universally defined anywhere, yet Citrus-Lime defines ‘Cyber Week’ as ‘the Monday before Black Friday’ until ‘the following Tuesday (day after Cyber Monday)’ inclusive. So, for 2016 it’s 21st to 29th of November and for 2017 has run 20th to 28th of November.
Now that’s out of the way, the tech firm has outlined that the effects of its clients’ Cyber Week promotions may even have driven physical footfall as driven by the visibility of all products with live stock availability online.
David Gaule, Citrus-Lime’s marketing man said of the data gathered: “Compared with Cyber Week in 2016, our e-Commerce customers have experienced an average increase of 55% in online revenue for Cyber Week in 2017. One third of our e-Commerce customers experienced a percentage growth higher than 55%. 17% of our e-Commerce clients more than doubled their 2016 Cyber Week revenue.”
It’s not all slashing margins to simply grow revenue either, says Gaule.
“At Citrus-Lime, we’re advocates of the phrase ‘turnover is vanity, profit is sanity’. We encourage our customers to use our methodology of monitoring ‘weeks cover’, among other key metrics, to guide their retail strategies towards maximising profit at all times. There are a lot of mixed opinions about the future of the cycle industry, but our customers who’ve focused on this methodology are seeing improved cash flow combined with increased profits.”
When combined with managed Google Shopping campaigns, the e-tail expert suggests results have been amplified for stores committing to a sustained presence.
Citrus-Lime are contactable by phone on 01229 588 628. Alternatively retailers can book a demo of the firm’s offering here.