As pioneers of the digital era, it’s not surprising that most Gen Zers plan to buy holiday gifts via social media. If you want to capture these young shoppers, you better up your social game.
But that’s not the only thing you must do to prep your ecommerce business. We researched more holiday must-dos so you don’t have to.
- Retailers’ holiday preparations 🎄
- Holiday promotion strategies 🏷️
HOT TOPIC
The holiday season is on the horizon, and online retailers are already gearing up for the yearly rush. Some are already deep into their preparations, knowing that the early bird catches the best worm.
Digital Commerce 360 surveyed online retailers to see how they plan to tackle the incoming flood of holiday shoppers. Here's what they discovered:
🛍️ How will shoppers behave?
- Nearly 54% of retailers expect inflation to tighten shoppers' wallets. People might not splurge as much as in the previous years. The rise in comparison shopping is also likely to impact conversion rates.
- 46% expect more consumers to turn to marketplaces like Amazon for their holiday shopping.
- Speaking of Amazon, 15% believe that July's Prime Day might have stolen some of the holiday rush, as some shoppers buy gifts early to avoid out-of-stock surprises.
💵 Will sales sizzle or fizzle?
- Most retailers are cautiously optimistic about this year’s holiday sales. Nearly 54% expect a modest growth of up to 24%. Some are even more hopeful, predicting a boost of 25% to 74%.
- But not everyone’s in the holiday spirit. Almost 8% of respondents are bracing for a sales dip of up to 49% compared to last year.
- And then there’s 15% who think things will stay flat.
🥱 What keeps retailers up at night?
- Almost 67% cite inflation and rising costs as their biggest worries.
- Nearly 59% are focused on hitting profitability goals, half of whom are grappling with how to stretch their marketing budgets.
⚔️ How do they plan to battle the beast?
When it comes to holiday (and even non-holiday) sales, everyone’s up against the big A—Amazon. About 44% of the retailers are planning to fight back with loyalty programs and lower prices.
Some are also banking on:
- Free shipping and faster delivery, taking a page from Amazon Prime’s playbook.
- Unique or curated product offerings to stand out from the crowd.
- Upgraded content to better inform and engage shoppers.
- Enhanced customer experiences with a personal touch.
- Omnichannel excellence to keep up with shoppers wherever they are.
Holiday sales are knocking!
Retailers are pulling out all the stops to ensure they’re ready for whatever challenges—and opportunities—the season throws at them. Some are fine-tuning their inventories, and others are planning out big promotions and sharpening their competitive edge.
What about you? How do you plan on letting the holiday sales in? 🚪
BITES OF THE WEEK
- Holiday Guide: Check out Amazon's guide for FBA sellers on holiday prep.
- Holiday Optimization: Here's a helpful webinar on how to optimize your Amazon store for the holidays.
- Q4 Checklist: Don't miss a step with this 23-point checklist on ecommerce Q4 strategies.
TACTIC TALKS
3 promotion strategies to ensure sky-high holiday sales
As shoppers dive into their holiday wish lists, they’re on the lookout for that perfect deal that makes their hearts—and wallets—sing. If you don’t meet their expectations, you’ll definitely miss out on the holiday sales fun!
💦 Awesome Dynamic shared 3 useful promotion strategies to make a splash this coming holiday season:
- Lightning Deals. Highlight your BFCM Lightning Deals to create buzz and drive traffic. Remember to submit your deals before the deadline, but note that placement isn’t guaranteed.
- Tip: To catch the eye of deal-hungry shoppers, offer competitive prices, high quantities, and ample inventory.
- Promotions, such as multi-unit discounts, tiered pricing, or free shipping. These are your ticket to larger purchases.
- Tip: Pair these promotions with your social media and advertising campaigns to amplify your reach and drive even more traffic to your store.
- Coupons are a great way to draw attention and entice shoppers. They appear in search results and can lead customers directly to your page.
- Tip: There's a fee for each coupon redeemed, so plan your strategy accordingly to maximize your profit.
⚡ Bonus strategy: Get your offers ready EARLY
And use the above tactics as your secret weapon in braving the festive shopping frenzy. Here’s to a season of skyrocketing sales and a joyous holiday rush!
