Make Your Inventory Work Smarter–Use Multichannel Order History to Take Advantage of June Shopping Trends for Dads, Grads and Brides
Posted by: Laura Hills, VP Marketing,
Beyond traditional Father’s Day, graduation and wedding gifts (e.g. electronics, power tools, and household items), auto parts and home improvement products (e.g. paint, hardware and garden supplies) now rank high for purchases made in June. In fact, FatWallet (an online shopping resource for millions of consumers) has seen a 65% increase in online sales made at top retailers from Memorial Day sales through Father’s Day since 2010.
“June may seem like a flat month for shopping and saving, when in fact, it’s a better time to buy a number of homeowner must-haves versus any other time of year,” stated Brent Shelton, FatWallet Spokesperson. “With three weeks of sales events for these categories, consumers have time to shop smarter by comparing the variety of savings offered to them,” continued Shelton. “Every retailer will have products priced to get shoppers’ attention, so it’s a great time to buy gear for the guys.”
Whether you sell online, by catalogue or in person, ensure your retail inventory is well positioned to work smart for you by taking advantage of shoppers’ demands for Dad, Grads and Brides in June. Just follow these key tips:
#1 – Identify and target your best customers and prospects. If you are not marketing effectively to your existing customers then you are missing out on the best opportunity to capitalize on your inventory and grow your business.
#2 – Ensure you have visibility into prior customer orders and preferences across all channels. This will allow you to easily segment your list and target specific offers to increase response rates from your best shoppers.
#3 – Make your inventory work smarter for you by using order history across multiple channels as a gauge for buyer behaviors to adjust inventory levels needed every day versus what’s needed during peak periods.
For additional tips on how to better focus your target marketing efforts, click here to download Dydacomp’s special report, “Retail Trends – Is Your Back Office Keeping Up With Your Online Store?”
The MarketWatch press release, “June Shopping Trends Lead to Sales Growth in Tools, Automotive and Home Improvement,” can be accessed at http://www.marketwatch.com/story/june-shopping-trends-lead-to-sales-growth-in-tools-automotive-and-home-improvement-2013-05-31.