Transcript

Thriving (Not Just Surviving) During the Holidays

NG SU HOLIDAYS THRIVING DURING THE This year, 35% of shoppers plan to buy their gifts at local, small businesses. Small business shoppers want to support local businesses and find unique merchandise within a personalized shopping experience. Here are some ways you can put your best foot forward this holiday season. THE OMNI-CHANNEL EXPERIENCE Customers have many ways to find your products, including in-store, online and on their mobile devices. The key is to optimize each medium to create a seamless customer experience that excels at reaching shoppers and driving sales on any platform. MOBILE INFLUENCE Shoppers use mobile devices to research products at the point of purchase TIP Make sure your mobile site clearly displays product info, price comparison options, store deals, and product reviews of shoppers plan to use a smartphone app to compare prices of shoppers say they would use a mobile wallet for 51% 31% their purchases 2014 2015 In 3 years, mobile devices are expected to influence $689 billion in retail sales options, store deals, and product reviews 2013 WEB PRESENCE Online sales are quickly edging out in-store purchases. Your website should be modern, easy to use and conversion-focused; if it's not, now is the time to improve! 63% of shoppers use retailer websites to research say they appreciate the ease of online shopping and 24% say they find 42% better sales products VS Black of holiday shoppers plan to skip 55% Friday and shop Cyber Monday instead NEW IN-STORE TRAFFIC Consider using NFC (near-field communications) to recognize customers as they walk in the door, so you can provide them with customized deals, product suggestions and mobile payment options. TIP Implement screens at point of purchase to create customizable promotions $=$ Emphasize cheaper and faster fulfillment compared to online purchases Counteract the "showrooming" effect by offering price-matching CREATE A POSITIVE EXPERIENCE Managing several mediums can become overwhelming but the customer experience must never be compromised. A positive and consistent experience will outweigh price and lead to more overall sales. 2 2 The average number of negative encounters that will cause a customer to stop purchasing from a retail brand MILLENNIALS CAN BE TOUGH CUSTOMERS 70-80% are likely to stop purchasing from a retailer after only one negative experience STRENGTHEN WHAT CUSTOMERS VALUE MOST: inventory availability speed of delivery and pick up sales associate interaction SHOW SOME GRATITUDE Give customers a reason to come back with a simple gesture. Saying "thank you" will attract and maintain loyal shoppers. 47% of customers enjoy a gift in the form of a discount on a product or service 18% Prefer a holiday gift card 1234 5678 9000 0000 13% Ppreciate a unique item as a gift Send greeting cards to Give small, affordable gifts customers, prospects and vendors to your best customers Plan a holiday party or open house to showcase new products and offer special discounts Attend other businesses' holiday mixers to show support and deepen community relations NEWS Capture contact information from holiday shoppers for follow-up messages and future promotional offers Write newsletters that 20% OFF include seasonal offers, new products, events and holiday hours KNOW YOUR SHOPPER Consumer demographics are constantly changing and so must the retailer. Get to know who the shoppers are this holiday season. ON AVERAGE, Households plan on spending 20% more this holiday season than in 2012 VS 2012 2013 CATERING TO THE ATTRACTING FEMALE SHOPPER MALE SHOPPERS %24 women's spending plans have only increased by 22% since 2010, but they're still the primary shoppers men's spending plans have increased by 31% since 2010 women tend to glance over several products and prefer quick product summaries men look for specific product details and photographs while shopping men prefer using deal websites when bargain hunting women turn to social media to find coupons Women are highly responsive to mobile targeting Men make larger mobile purchases 44% of women surveyed have visited a store after receiving a mobile sale alert Men are 2x more comfortable than women making large purchases ($500+) via a mobile device BOTH MEN AND WOMEN ARE SHORT ON TIME. Make shopping easier by grouping products together to create gift packages. Gift cards are also important for busy shoppers so make sure to have plenty available and place them throughout the store, primarily at the check-out or front desk. Sources reurers.com/articla/ 2013/11/20/snapette-pricegrabber-idUSnPnLA7DThw+16c+PRN20131120 us arodzy.com/story/money/columnist/abrams/2013/10/11/small-busines-holiday-success/2963401/ examiner.com/article/small-businesses-planning- to- pull-out-all- stops-with-service- during-holiday-2013 marketwatch.com/story/now-research-Indicates-holid ay -shoppers- Merchant Warehouse avidly-support-small-businesses-2013-10-21 deloitta.com/assors/ Dcom-UnitedStates/Local%20A ssers/Documents/ Retail Distribution/us_retail_Mobille-Influence-Factor_062712.pdf Learn more at MerchantWarehouse.com

Thriving (Not Just Surviving) During the Holidays

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This year, 35% of shoppers plan to buy their gifts at local, small businesses. We worked with our friends at Merchant Warehouse to show business owners just how to thrive rather than just survive dur...

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