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Ways to rock your festive season

SURE FIRE WAYS TO ROCK YOUR FESTIVE SEASON SALES OWAL As the festive season approaches, Indian retailers are already wooing their customers. Today, the key to attracting customers is by being relevant to them and understanding what they are expecting from the retailer. WHAT CUSTOMERS ARE EXPECTING We did a survey from over 200 Customers between ages 15 and 40 years among varying income groups and found out: WHAT 60 CUSTOMERS ull 50 EXPECT 40 30 20 10 Loyalty Privleges Loyalty Vouchers Rewards Lack of Queues Uhiaue offers and Discounts CREATING LOYALTY AMIDST FESTIVE SEASONS We researched how festive season sales were affecting consumer businesses and retailers. Besides the short-term benefits of an increase in sales, a notable surprise was that: RETAILERS GAINED LONG TERM BENEFITS SUCH AS A HIGHLY LOYAL CUSTOMER BASE. INCREASE IN NUMBER OF REGISTRATIONS DURING FESTIVE SEASON SALES KEY PERFORMANCE INDICATORS 70 60 50 40 30 20 10 Customers Sales Registrations Non-Seasonal Seasonal Growth % RECOMMENDATION The OND (October-November-December) quarter is the best period to acquire new customers. Let the newborns roll in. Research shows that the customers you win during festive season are the most loyal customers throughout the year. IEOEO3 2.22 1.95 Q3 Q1 Average Yearly repeat Visits Average Yearly repeat Visits The average yearly repeat spend of the customers gained in Q3 is a whopping 12% higher as compared to customers gained in Q1. HIGHER CUSTOMER RETENTION AND WIN BACK DURING FESTIVE SALES 77% INCREASED 57% WINBACKS 29% AND CUSTOMER RETENTION 10% % Winback % Retention RECOMMENDATION Devise a strategy to bring back your lost customers and convert your current Customers into future loyalists. Campaigns give the best results during this period than any other time in your customer's shopping calendar! A DIP IN SALES POST FESTIVE SEASON SALE RECOMMENDATION Identify the customer segment who did not visit during festive season sales. Identify the behaviour of those customers who have shopped between the post festive season and one week prior to the festivities during the past financial years. Identify customers who responded during the festive season and also shopped post the festive season sale. Build a predictive model that can identify customers who would respond positively to your communications. TIPS TO GET IT RIGHT THIS FESTIVE SEASON Tap into the festive season energy by adopting this simple framework. TIP 1: IDENTIFY TARGET MARKET THE THE FAMILY LAMP SHOPPER LOVERS THE NEWBIES Send them promotions on gifts they can their family members, friends and themselves. Say something relevant to customers who visit only Customize the brand experience for customers who shop for non-discounted items even during festive period, and they'll reward you with increased brand affinity. during festive season sales and they'll respond very kindly. THE LOST STARS THE ELITES Pay attention to shoppers with deep pockets. Shower them with extra privileges Rejuvenate customers who didn't shop last year during the festive season sales but have been active in earlier festive season sales. Send them mild discounts and offers based on their history such as an exclusive pre-sale previews. with the brand. TIP 2: TIME IT RIGHT Sales DIWALI .... ... DIWALI SALES After Diwali Opportunity prior to (T-7) days for creating the Diwali BuZZ sales Days Diwali Diwali day 2 befor Diwali Retailers observe high sales a week before Diwali starts and on the day of Diwali. Two weeks before Diwali is when retailers should start promotions as that is the time to build top-of-the-mind recall. Sales NAVRATRI NAVRATRI Opportunity to improve pre Navratri sales SALES -Days Days leading up to Navratri Navratri Similarly, during the week of Navratri retailers get high sales. The opportunity window here is a week before Navratri starts that the retailers need to leverage. TIP 3: ENTICE CUSTOMERS TO BUY DISTINCT PRODUCTS Customer who buy more distinct product come back earlier than those who buy less Numer of Distinct Purchases <= 2 Numer of Distinct Purchases > 2 Repeaters 94 78 Average number of days for next visit 115 New customers 88 Average number of days for next visit * Accessories not considered as distinct product RECOMMENDATION Cross selling assures increase in the average bill value during the seasonal period sales. As per our analysis the apparel industry sees a minimum 5% increase in average bill value during festive season sales. HAPPY HOLIDAYS!

Ways to rock your festive season

shared by mglinfographic on Sep 02
Festive season id the time to shop and to sell. This infographic gives three sure fire ways to rock your festive season. It gives a market research of what is the demand of the customers and what is t...


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