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E-Commerce Preparations for Peak Holiday Season 2020
Here is how to succeed
This year's peak is a massive opportunity for retailers. It's a chance to boost sales and make up for the lost revenue. However, we do believe that it's going to be an insanely busy period for e-commerce, retailers, manufacturers, and logistics. And you don't have to find yourself in the frustrating situation so get it all ready in advance.
Even though in this historical peak season it is almost impossible to make any projections, some research and survey have still been conducted. But we also know for a fact that lines of patrons waiting outside for door-busters after Thanksgiving dinner won't be a reality this year, and it's questionable whether they'll return in the future. As such, brick-and-mortar retailers must adapt, and fast.
Even though in this historical peak season it is almost impossible to make any projections, some research and survey have still been conducted. But we also know for a fact that lines of patrons waiting outside for door-busters after Thanksgiving dinner won't be a reality this year, and it's questionable whether they'll return in the future. As such, brick-and-mortar retailers must adapt, and fast.
According to data from Rakuten Advertising global survey, 87% of consumers plan to shop this Christmas despite more than 40% citing a decrease in household income due to COVID-19. And 57% of these consumers plan to shop during key peaks like Balck Friday. Such countries as the UK, France, and Germany will see higher consumer demand for discounts, rewards, coupons & cashback. This is where you might want to consider integrating a browser extension with cashback or coupons services. Consumers will also be very picky in prices, by desperately looking for the best deals out there. Within a browser extension, you can try out the price comparison feature or the auto-apply coupon product.
Moreover, it is absolutely essential to process all data properly, so you can derive new insights about your customer preferences and identify new opportunities. We at BTB have been working very hard on that particular matter and came up with a new Analytics Dashboard and Configs Development Tool for auto-apply coupons.
A chance for physical stores to re-open by that time is close to zero. As well as risks for employees and customers are still too high. So there is no need to rely on the idea of getting crowds in your store by Black Friday. Now it's time to use up all your resources to polish, improve, and boost your key online sales channels. For instance, Target has announced its stores will close on Thanksgiving Day. However, we can expect retailers to compensate with even deeper e-commerce deals on both Black Friday and Cyber Monday.
So what else can be done to pass this busy period successfully?
Moreover, it is absolutely essential to process all data properly, so you can derive new insights about your customer preferences and identify new opportunities. We at BTB have been working very hard on that particular matter and came up with a new Analytics Dashboard and Configs Development Tool for auto-apply coupons.
A chance for physical stores to re-open by that time is close to zero. As well as risks for employees and customers are still too high. So there is no need to rely on the idea of getting crowds in your store by Black Friday. Now it's time to use up all your resources to polish, improve, and boost your key online sales channels. For instance, Target has announced its stores will close on Thanksgiving Day. However, we can expect retailers to compensate with even deeper e-commerce deals on both Black Friday and Cyber Monday.
So what else can be done to pass this busy period successfully?
1
Essential Products Are the New Black
Shoppers are focusing on what they need over what they want, athleisure over fashion, the home over the next new thing, and the family over personal statements. And essential is more than groceries and cleaning products. It includes a wide range of products that shoppers literally cannot live without. Variety is also a luxury now because everything should be sold. So you have to be more precise on what exactly your customers are willing to purchase more and what less.
2
Spread Out Promotions
Retailers are still reeling from supply chain breakdowns they experienced during the beginning of the pandemic. To avoid causing further breakdowns, many retailers are starting their winter sales promotions in September as a way to spread out the selling cycle and avoid disappointing shoppers with delivery delays caused by surges.
3
The Future Is Mobile
COVID-19, shifts in consumer behavior, emerging social media shopping, and other reasons for the mobile shopping to bloom. It goes without saying that the trend for mobile-first environments for retail commerce is growing fast, and if you're not ready to make the move now, you'll very quickly fall behind. Let's not touch here the obvious measures you have to undertake while introducing your customers to a mobile platform and get straight to the point. In case you are not willing to lose any of your mobile users, especially during the "hot" season, there is one very effective. The mobile browser extension. The user will make any of his/her purchases via mobile, just by activating the cashback reminder product, i.e. both the number of purchases per user and the number of active users will grow rapidly. And finally, the average check will grow without a single doubt, because the user will always be available for notifications and receive the best offers, at any point of the shopping trip.
4
Personalize Services and Communications
We've talked a lot about personalization, but it still remains one of the key factors. In this kind of environment, a little personalized service goes a long way. Personalized and reassuring messages should go into all forms of communication, even messages sent for shipment notifications, order confirmations and more. You truly have to become e-commerce friendly and to create a pleasant environment so your customers are willing to come back online, without a connection to a physical store.
5
Data
The number one issue on retailer's minds today is the importance of demand data in setting holiday plans and how unreliable and inaccurate it has become for providing guidance during a pandemic. You can combine all possible internal sources & data (e.g. store sales, online sales, mobile sales, loyalty programs, social media etc). Real-time data is one of the main factors to drive your sales, enable transparency, and become closer to your customers. We have also noticed that users love to see the whole user trip in every single detail. You might want to consider it while developing your UX/UI.
6
Discover
Users want to be able to discover products and all you have to do is to create more opportunities for them to do so. Don't just sell it. Implement price comparison features include subscription models and make sure your platform is easy to navigate.
This is a very exciting and interesting time. Usually, we struggle with how to get people to try your channels, but now the trial has actually happened. And all you have to do is to jump on the train full of new opportunities! And we are happy to guide you through this way.
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