This time of year, the headlines begin to fill with holiday shopping predictions, most of them contradictory. Spending will be down because consumers are uncertain due to the recent government shutdown. Spending will be up because consumers are optimistic about the economy.
Regardless of what the forecasts say, the fact is that the holiday season can account for 20-40 percent of a retailer’s annual sales. The season also accounts for approximately 20 percent of total industry annual sales, according to the National Retail Federation. That’s an awful lot riding on four-week period in 2013.
With the growth of e-commerce and m-commerce, retailers have new channels with which to grow sales during and beyond the holiday season. The majority has wholeheartedly embraced omni-channel strategies and is growing savvier by the day.
“Online and mobile continue to be a leading area of growth for retailers,” says Matthew Shay, President and CEO of NRF. “In this economy savvy, cost-conscious consumers go to the web to do their research and get the best bang for their buck. In addition to researching what their peers are saying online about products and gifts this holiday season, consumers will use the buy online, pick-up in store option, retailers’ apps and mobile websites to find something special for their loved ones.”
Accordingly, as Black Friday approaches, Shop.org reports that retailers are investing in strategies to improve their shopper experiences. Many are simply offering free shipping – always a customer favorite and successful way to increase sales. Others are improving mobile experiences by investing in better mobile websites, introducing m-commerce apps, and optimizing email for mobile devices. And still others are paying closer attention to their social strategies across sites like Pinterest, Instagram and Facebook.
What else can retailers do to maximize sales and drive loyalty through and even beyond the holiday season? Our new Retail Series on the blog will dive deep into strategies and innovations retailers can leverage to motivate shoppers all year long. Topics will include data usage, dynamic creative, omnichannel strategies, holiday success stories and more.
Watch out for ‘Retail Series’ in our tag cloud to follow these posts and learn more about our retail offering here.
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