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.
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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