What is Boxing Day and how to increase sales

The Top 4 Boxing Day promotions

Implementing effective pricing strategies and promotions is vital to ensure you stand out from the crowd of powerful competitors on Boxing Day. As you will see below, there are various formulas you can use.

• Aggressive Boxing Day Sales

Consumers expect fantastic deals on Boxing Day. We recommend applying eye-catching discounts on the most popular products in your catalogue. Identify products suitable for stock clearance or those with a higher profit margin that will allow you to apply more aggressive discounts and, therefore, be more attractive to your customers. You can use Catalogue Intelligence. 

• Lightning deals 

Launching several lightning deals over the course of the day will help you keep your current customers and potential consumers alert. This will create the need for them to visit your eCommerce throughout the day to find what they are looking for at the best possible price. These types of limited offers create a sense of urgency that will speed up the purchase decision. The best-known are limited-time or limited-unit offers.

• Bundle pricing or discounts per pack on Boxing Day

Volume promotions, also called BOGO promotions, include offers like buy one, get one free, 3for2, or buy one get the second half price. These are very attractive for lower-value products and frequent purchases. Another strategy that can help increase the number of sales and the average ticket is the price per pack or bundle pricing which is also highly anticipated during high sales dates.  

• Loss leader or how to set the bait with tantalizingly low prices

The loss leader technique involves offering certain products at very low prices, even below cost, to attract more customers to the store or website.

This reduced price—unmatchable for most of your competitors—acts as bait to lure customers to your store. Once inside, they are tempted to buy other products with higher profit margins, encouraging cross-selling. 

That said, to launch prices and promotions that stand out from your competitors, you must be aware of all the pricing strategies they apply at all times. Not so long ago, this would have been ‘mission impossible’, but today, you can delegate the task to tools like Minderest’s Price Intelligence. Monitoring competitors’ movements, knowing your competitive position in each market and designing pricing strategies for Boxing Day and the rest of the holiday season has never been easier. We can show you how it works; book a Minderest demo here.