Are you prepared to make it rain this holiday season?
Every year Black Friday Cyber Monday (BFCM) seems to creep on retailers. We’ve already been helping our clients for weeks now properly prepare. Consumers ever-evolving path to purchase makes success a moving target for retailers, but one thing remains constant – the holiday season is your biggest chance to achieve business growth!
In the U.S alone consumers spent $91.7 billion online last year according to the Adobe Digital Index, and that number is predicted to rise by 12% this year. Forrester’s recent reports assert that two out of five consumers will spend more money during the 2017 holiday season.
What’s Your Strategy to Stand Out?
Competition during the holidays is very much akin to the fierce battle we witness unfold at a Walmart store opening at 5am on Black Friday to a horde of eager shoppers trying to buy a 60inch 4k TV for 50% off.
You need a strategy to stand out amongst the crowd of brands, merchants, and retailers this holiday season.
Is The Price is Right?
Price is one of the most critical factors that influences a consumer’s intent to purchase, especially during the holiday season when sales are aplenty. Over the years holiday shoppers have been trained to wait for a special discount or promotion, rather than pay full price.
We recommend retailers start to prepare now to optimize their product pricing and promotions before the crazy influx of holiday shoppers. That’s why we’ve taken to updating our hugely popular resource for Magento retailers!