Posted by: Laura Hills, VP Marketing, Dydacomp
It’s that time of year – shoppers are starting their holiday shopping earlier and earlier and retailers need to be ready with timely offers, the right amount of inventory, and sufficient staff to handle the demand and to be ready to keep up with customer demand. For a growing number of consumers, Back to School signals the start of the holiday shopping season.
Source: National Retail Federation (NRF) 2012
Following the lead of these early birds, well prepared retailers can begin holiday advertising and promotions to catch the almost 40% of shoppers who start shopping in September and October. Help them to find the perfect gifts at the right prices early on.
Here are 5 Top Insights to help you prepare for the 2013 holiday shopping season.
- Free shipping increases online spending – but it must be managed appropriately. Take advantage of group shipping rates and “least-cost shipping” options to increase bottom line revenue.
- Manage stock levels to meet seasonal demand spikes and maintain inventory control. Be prepared for the Black Friday through Cyber Monday sales period. Use last year’s sales as a benchmark for this year’s needs.
- Leverage best practices to ensure that you have visibility across all sales channels. Utilize cross channel online inventory control especially if you use third party eCommerce solutions and offsite fulfillment centers – have what you need so you don’t disappoint.
- Employ marketing and customer service approaches that work to engage and delight your shoppers. Use customer data to segment your site visitors and create targeted marketing for each segment. There’s no such thing as an over-satisfied customer.
- Optimize your existing operations to enable expansion into new marketplaces to uncover more buyers. Focus on the consumer experience and preferences that drive shopper’s choices. Don’t forget about Amazon, eBay and other online outlets for sales.
For additional information on how to be prepared for the upcoming holiday season access our on-demand webinar, “The Top 5 Insights to Help Prepare for Season and Holiday Rushes”. You and your shoppers will be glad you did!