For retailers, the best time of the year is here – the holiday season. This is the time to get maximum attention from customers worldwide, and a tremendous opportunity to double conversions.
According to a report by Statista, the holiday eCommerce sale in 2018 is expected to reach $2,842 billion, a remarkable increase from $2,304 billion in 2017.
In order to make the most of this holiday season, you will need strategies that will work, and the instructions for implementing them. We have put together four key strategies in our guide: The Ultimate Guide for Retailers to Prepare For Holiday Season.
The cutthroat competition in the retail sector brings along its challenges, especially during the holiday season. As customers have a range of platforms to choose from, they tend to become more demanding and unforgiving, if the experience delivered is not commensurate with their expectations.
Customers expect retailers to know and understand them. They are accustomed to a personalized experience and expect it the moment they begin to interact with your business. While this reinforces the fact that personalization is the key strategy for retailers to boost customer acquisition, it also lays a tough road ahead for them to define their roadmap to get the personalization right.
While you can read our guide to know more, here is brief roundup on what all our guide covers:
1) Leveraging Data to Know Customers Better
The never-ending streams of data generated by your business, every second of every day, represent both a challenge and an opportunity. Your processes are likely to become chaotic the moment even an iota of data is handled improperly.
It has become imperative for merchants to see the potential in these data piles to help beat their competitors and deliver the best to their customers. How do they get there? Through data analytics.
2) Boost Customer Experiences with a Better Customer Service
Customers are now used to living in an online world where they do not have to wait in line or hold their questions. They are accustomed to receiving instant gratification. Improving the shopping experience is about analyzing the problem faced by customers while online shopping.
From placing an order, right through to shipping, you need to discover what bothers your customers the most, and how you can transform that pain point into an enjoyable experience.
3) Market Better with Personalization
Personalization has emerged as one of the key placeholders among customer experience strategies for businesses across the globe. In eCommerce for instance, the response of an average consumer toward a recommendation that is based on his browsing and past purchases on a retail site is mostly favorable.
A shopper feels special when he is addressed with a personal touch in an email, or message. Retail engagement can be enhanced through language-personalization, geo-personalization, and an offline and online immersive experience.
4) Make the Shopping Process Easy for your Customers
Imagine that you go to a store, pick up your goods, go to the checkout counter, wait patiently in line, only to reach the front as the clerk posts a ‘Counter Closed for the Day’ sign. Now you have to wait in another line all over again. How disheartening is that?
You will certainly not want to put your customers in that type of situation because they can easily find numerous other retailers to pick from; they may not consider coming back to your store simply because it caused them an inconvenience and disappointment.
You can keep such a situation at bay by being a little extra cautious during the sale season. If you let your visitors carry out a smooth selection, comparison, and finalization, why not improve the whole experience by making the checkout process less pestering?
The success of any strategy or plan in digital commerce can be measured best in terms of the conversions. The average conversion rate, at present, is 2 to 5% across industries, and all retailers would love to maximize it during the holiday season.
Not only are customers willing to spend readily but are also easily connected to computers in order to access commerce sites more smoothly. This is in addition to the browsing and shopping they regularly to do on their mobile devices. So, you need to seize the opportunities. But to maximize the conversions, you must capitalize on the right strategies.