Connection = Conversion: The Formula for a Fruitful Holiday Season
Trends This Holiday Season
According to holiday shopping statistics from 2020, 38% of US consumers planned to start stocking on gifts in October, and another 23% before Thanksgiving. Only 22% said they’d wait until Thanksgiving to start their holiday shopping.
With the customer concerns of the state of the economy, many retailers are encouraging early consumer spending by running sales to compete with their Black Friday promotions. These sales are spanning from anywhere between 20%-70% off to capture even the most strategic of holiday spenders. With early promotions and strategic sales tactics ruling the holiday season, we can only wonder, what this will look like for consumers and how can retailers best prepare?
What Retailers Can Expect
Higher volumes of shoppers! Customers will capitalize on these promotions while also heading to retailers for the in-person experience, service, and holiday shopping tradition.
What Customers Can Expect
With customers being hyper focused on promotional sales, many of which they can capitalize on through omni channel, their in-store shopping experience will be quite specific. Customers will be seeking excellent service, authentic engagement, a well-loved store, and overall, a strong brick and mortar shopping atmosphere.
Implement A Fluid Shopping Experience
In-store and omni channel experiences are more intertwined than ever before. While some customers may visit stores to view an item and later order it online, some customers will do the opposite: viewing merchandise online and making purchases in-store. Brands that create fluid cross channel shopping experiences for the customer will see a smooth and fruitful season.
Be a Leader That Inspires
In the spirit of the holiday season, we cannot forget the hard retail workers that drive the in-store experience. As retail leaders, it is important to inspire excitement of suggestive selling and authentic customer engagement to all employees that interact directly with customers. This year, a big driver of conversion of sale will be the connection that is made between the customer and the sales associates. Customers are being very thoughtful and strategic in their purchasing, so it is important when they are visiting the stores to invoke a connection and level of trust in what is being suggested to the customer by the team. A great reminder is to keep work fun for the team! In-store contests, praise, and empowerment make a big difference in employee attitude during this time of the year.
Take Care of Your Team
Employees tend to buy into initiatives and perform better when they feel valued and motivated. This season can be physically and emotionally training for most, including the teams that work tirelessly to support the magic of the season in the retail setting. This is a reminder to be empathetic leaders this season. Honor requests and suggestions where possible without disrupting business. Check in on your team, an extra 10-minute break when business permits will go a long way on those long days. You can also consider shorter shifts to optimize productivity and minimize burnout. It is in your power to set the example for tone and pace when working with the team. The season is taxing for retail employees, so be thoughtful and creative in ways to keep it fun. The greatest asset to a brand’s success this season, and every season, is its people.
Articles referenced:
Retail Statistics for 2022: 53 Data-Backed Retail Stats To Know (shopify.com)
115 Customer Service Facts (Including Trends and Statistics) | Indeed.com
Retail Facts and Figures – October 2022 Update (shopreme.com)