With the advent of Amazon becoming the 600 pound gorilla in the retail room, it is high time that retailers, both large and small, decided to fight back. There are some strategies you can use as a retailer to steal some huge market share from them this holiday season. And now is the time to prepare and to implement them.
- The challenge for retailers this holiday season is two fold. Marketing research estimates predict in store sales will fall around 2% or remain flat from last year. However, e-commerce sales are expected to leap over 13%. This is where you need to beat Amazon. Yes, they are the e-commerce beast but you can get your share.
- One key hack is to really dig into your data. You must know your customers better than anyone especially Amazon. Marketing research continues to show that at least 40% of holiday online shoppers either don’t go to Amazon or it is not their primary go-to retailer. That’s a lot of customers. When you combine all of the data you have collected over the year, you will have a definitive profile of your customer and you will know what they want and you will know what will drive them to your store or your site.
- You know your customers and what will entice them to you over and above your inventory offerings. Discounts, gift wrapping, special offers, two for one deals. You know what they want and Amazon doesn’t. Amazon’s data can get pretty skewed. For them, they know that someone bought something from them but they don’t know if it is for them or if it is a gift.
- While 36% of customers will browse online, 33% of them will come into your store to buy. If they have an opportunity to actually see and touch the merchandise, they will. That’s a huge advantage over Amazon.
- Over 40% of buyers state that their holiday decisions are, indeed, affected by advertising. Even those annoying pop ups. You know where your customers are online and you know how to drive them to your site. Now is the time to get them thinking about the holiday and to continue to build your brand awareness for the next few months. That way, when they really are thinking about holiday buying, you will be a top option in their minds.
-Written by Kevin Sawyer