With the holiday shopping season about to kick into full swing, now is the time for brands and retailers to take stock and make sure they have gathered the proper ingredients to deliver sumptuous shopping experiences that will draw shoppers and motivate them to buy those products. Here are a few of more interesting elements we’ve found.
1. Use gift cards to drive more store visits and more purchases — A study by First Data study looked not just at gift card purchases, but also at card usage. It found that consumers spent an average of $38 more than the value on their gift card this year—up $10 over 2016. And 44% of respondents said having a card caused them to go to a store they would not have visited otherwise.
2. Leverage buy online and pick up in store to capture more in-store purchases. According to a study by the National Retail Foundation, “over 75 percent of millennials have made an additional purchase during in-store pick up. This phenomenon of making an unexpected buy while picking up previously purchased items holds true across age groups, too. 63 percent of respondents ages 35-49 and and 79 percent ages 50-65 said the same.”
3. Focus more on Millennial shoppers on Black Friday and Cyber Monday. As reported by eMarketer, “Back Friday and Cyber Monday are, theoretically, appealing to shoppers of any age, but younger shoppers are more likely to join the crowd than older ones. An October survey by comparison engine Finder.com indicates that most Millennials expect to spend money on Black Friday or Cyber Monday this year, whereas Gen Xers are roughly split on the matter. Barely one-quarter of Baby Boomers expect to be spenders on those days.”
4. Capture the attention of those post Thanksgiving meal couch potatoes. After the meal is done and the family heads for the couch or comfy chair to settle in for some football watching or their favorite Thanksgiving movie (IMHO, “Trains, Planes and Automobiles is the best) take advantage of their second screen watching activities to entice them to get off the couch and head to the store for that great deal. Marketing Dive has reported that an estimated 177.7 million U.S. adults — 70.3% of the total population — will regularly use another digital device while watching TV this year, up 5.1% from 2016, according to an eMarketer study.
5. Leverage mobile proximity marketing to engage shoppers with the right offer at the right time that will motivate them to make that in store purchase.
So the question is what new ingredients have you added to your Holiday Season Retail Recipe to draw in shoppers? Of course you don’t want to eschew the traditional elements but if you don’t add some new spices to the mix you just might find yourself left with a table full of goodies and nobody to consume them.