Retail Strategies That Dominate the Holiday Season
As Christmas fades into memory, it is time to analyze the profitable holiday season. According to recent statistics, retail sales increased by almost five percent from last year’s holiday season, with online sales exceeding predictions at over 18 percent growth.
Analysts have attributed this growth to the introduction of new technologies and strategies which make online shopping faster and easier. Here are the retail strategies that dominate the holiday season.
Retail forecasting has shown an increase in customers shopping via smartphones and tablet devices. Store visits and online visits were almost equal, and online sales reached 41 percent.
45 percent of online visits is reportedly made by smartphone, with 46 percent of online shopping made via desktop browsers.
Native apps and mobile-optimized websites won by offering the latest sales and location services using push notifications which inform shoppers of the nearest deals as well as an on-the-go personalized shopping experience.
New Payment Methods
Digital payments have become the prime mover of online commerce since the invention of PayPal. This holiday season, an increased number of retailers broadened their checkouts to accept new providers as well as new currencies. Breaking away from standard credit cards, this year Venmo, PayPal and other peer-to-peer payment methods were appearing on website checkouts along with digital wallets that facilitate simple one-click shopping.
Digital payment solutions not only push customers to checkout faster: they also increase customer’s confidence during the buying experience.
One undeniable winner of e-commerce technology during the holiday season was same-day delivery. Many retailers are taking their lead from Amazon and are offering seamless customer experiences by providing same-day delivery services up to Christmas Eve. By utilizing in-store music such as that provided by https://moodmedia.co.uk/in-store-music-for-business/, you can encourage consumers to purchase, even at the last minute of the festive season.
By catering to the mentality of instant gratification of the modern consumer, competitors have pushed aside and sales are increased while gaining a loyal customer base.
However, up to 66 percent of consumers have experienced a failed or late delivery in the past year, regardless of their chosen delivery method. The technology behind the customer experience must meet consumer expectations or risk damage to the brand’s reputation as a consequence.