2017 Retail E-commerce Sales Statistics During the Holiday Season: What You Need to Do [Infographic]
The retail industry always upwells drastically during the holidays and this year it is going to be even bigger than the previous year. According to Invespcro Marketers should expect better sales this year. Compared to 2016, this year’s sales will grow by 16.6%. E-commerce sales will account for 11.5% of total retail sales.
Infographic Source – https://www.invespcro.com/blog/us-holiday-shopping/
Moreover, according to the National Retail Federation, retail sales will increase amount to at least $655.8 billion this year. This should not surprise any retailer or marketer because shoppers normally spend more during holidays. However, one cannot just assume they are going to make more sales just like that. Certainly, this is not “build it and they will come” scenario. You should become more proactive in order to attract more customers.
Planning for the holiday season should begin several months early, especially during the simmer. In other words, Now is the time. If you haven’t already started planning for your holiday, it is critical that you start as soon as possible. This Holiday will be vital because you stand a chance of generating an additional 40% in revenue. Now, more than ever, you can start looking for ways of augmenting your customer’s experiences. Many retailers take this opportunity to introduce incentives like personalized discounts, promotions and much more. In short, an intense market demand lies ahead, hence, you have to look for ways of satisfying that market.
Collect, store and use customer data
The truth is that you are going to collect enormous amount of data from your customers during the holidays. What do you do with the data? Should you just sit passively without doing anything?
The first thing you should do is to centralize your customer data in an integrated database. You can then create personalized profiles for each customer to enable you make meaningful connection to your customers even in future. Ensure you deliver the right message to the right person and at the right time.
Personalization and re-targeting is very important
After you have collected customer data, it is time to take advantage of that data, look for innovate ways to personalize and re-target your messaging. Did you know that almost every customer is waiting for the right deal? Actually, customers have been conditioned to believe that there will be a plethora of offers during the holidays. So the key to success during the holidays is to target to the right customer with the right offer and at the right time.
Source:: Business 2 Community