As the year closes, Valassis - a leader in intelligent media delivery - has shared insights based on recent industry research, explaining how stores can generate and prepare for a strong start to 2017
“Through industry data points, we have seen some interesting trends surface,” says Curtis Tingle, chief marketing officer at Valassis. “One that has been consistent is that shoppers continue to look for ways to save, and they’re jumping across both physical and digital channels to increase their savings.”
So what can you do for a successful 2017?
Offer deals frequently: While the holiday shopping season on the high-street is known for its one-day deals like Black Friday, Small Business Saturday and Cyber Monday, today’s consumers want to save all year. This is why many retailers are offering extended deals to tackle the competition and make them stand out from the crowd. Offering a discount weekend or week of offers such as free gifts with purchases will keep brides engaged.
Promote via print and digital: Shoppers are hunting for deals and they’re searching all channels in the process. As well as print promotions, they’re checking emails, combing through mail circulars and visiting retailers’ websites. To be successful, marketers must reach shoppers where they’re researching and embrace a multi-channel approach that activates consumers across their shopping journey. Make sure you’re present on social media, interacting with customers and creating that initial great first impression.
Capitalise on data: Retailers should capitalise on the idea that consumers are willing to provide personal information in exchange for deals. Utilise contextual clues - including shopper preferences, media behaviours and purchase data - in addition to real-time mobile location data - to personalise offers and drive conversions. Once you have data capture you can target your brides with personalised information, offers and store news. Just keep what you send personal and make sure not to overload them with information.
The National Retail Federation (NRF) forecast indicated that sales in November and December would increase a solid 3.6% to $655.8 billion, and non-store sales are expected to increase between 7 and 10%. While retail sales are expected to increase, it doesn’t mean consumers aren’t looking to save through deals and promotions - and research shows they’re willing to provide personal information in return for these offers.
According to the Accenture Holiday Shopping Survey, 67% of respondents said they will shop both stores and websites to secure lower prices. Shoppers will be scouring for deals online, in stores and in their mailboxes. Epsilon’s annual Holiday Shopper’s Voice® survey found that direct mail influences purchases for 77% of shoppers. The same survey found that 90% of respondents said they will go online or look at retailer emails as part of their shopping.
While we are true supporters of brick and mortar stores, understanding and recognising the growth of online is vital. Even if you’re not selling via a website, it’s still so important to have an up to date, fresh and easy to use site that details all the information of your store and the service you provide. You can also make use of digital with email marketing and social media to completely engage with your customers and help your buisness stand out in this increasingly competitive market.