Wednesday, July 18, 2012

Where Your Customers Will Be Shopping This Holiday Season


Now is the time that marketers are developing their strategy and 
tactics for the upcoming holiday shopping season. This three-part 
blog series is my gift to all of my retail marketing friends. Today 
I will review: online shopping, brick–and-mortar and gift cards.

As a retail marketer, your best bet is to evaluate last year’s marketing 
strategies and tactics to determine what worked and what failed, then 
ask yourself and your team, “Why did this work? Why did this fail?”

Online Shopper
Last year, a whopping $35.3 billion of revenue was generated via 
e-commerce a 15% increase from 2010. Projections for this year’s 
online sales should be even higher, as the economy continues to 
get stronger and consumers’ familiarity and comfort levels with 
online shopping continue to increase. 

Tip: Include a bounce-back coupon inside your shipping box, and 
be sure your offer is compelling so the consumer actually wants to 
use it.

Brick-and-Mortar Shopper 
Between December 1st and December 24th  consumer retail spending 
rose 4.7% over the same time period in 2010. Sales revenue for the 
week ending December 24th was $44 billion, 14.8% higher than the 
same time period in 2010. These powerful sales figures prove that 
customers prefer to do the majority of their holiday shopping in
brick-and-mortar stores.

Tip:  Now is the time to splurge on your in-store marketing spending.  
Omni-channel marketing will give you the most bang for your buck-pair 
smart in-store marketing with eye-catching merchandising, and make sure 
you are properly staffed so customers do not have to wait in long lines.

  
The Gift Card Shopper
The average consumer spends nearly $140 on gift cards during the 
holiday season, which is a 3.4% increase over 2010. Gift cards
represent18% of all gift purchases.

Tip: Sprinkle gift cards throughout your stores and have your 
employee’s upsell your customers by offering a gift card during 
check out. Provide free shipping on gift card purchases for your 
online customers.
  
Clearly, shoppers prefer the in-person shopping experience during 
the holidays, but online shoppers certainly are not to be overlooked, 
and gift card purchases are icing on the cake. Create strategies for all 
three so your holidays will shine.  Next, I’ll take a look at the different 
methods for effectively reaching holiday shoppers. Stay tuned.

Please share any tips or advice can you add?

Sources: ICSC-Goldman Sachs survey, ShopperTrak research, BMO Capital Markets
Responsys, comscore, IBM Coremetrics Benchmark study, moneyland.com

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