The process of dividing a broad market into smaller subsets is nothing new. In fact it’s been common practice ever since markets grew large enough for suppliers to produce different product models. And while there are many different ways to divide up an audience, the most commonly practiced have traditionally focused on geographic, demographic or psychographic (“values” or “lifestyle” based) divisions.
We caught up with Mayank, head of ecommerce at Crocus.co.uk, the online retailer providing over 4,000 plant and gardening products to customers in the UK. Mayank’s role is to implement the business strategy from an ecommerce point of view, making the digital experience work for the customer. The entire customer journey and ecommerce experience is Mayank’s responsibility.
As we approached Christmas, many retailers were crossing their fingers for a last-minute sales boost, following the expected post-Black Friday lull. This is now a recurring issue for UK retailers and I expect many are already considering how to combat this next year.
“The end is near!” must be a thought on the top of every retailer and ecommerce team’s mind come December 25th. As holiday promotions have slipped earlier and earlier into our calendars, shoppers and retailers alike are feeling the sale fatigue.
Following their recent win for best in-house product at the EGR Operator awards, Dublin-based innovator BetBright have put ‘understanding and influencing’ their customers at the heart of their strategy for 2017.
Black Friday and Cyber Weekend generated plenty of headline grabbing stats as usual, and in spite of the yearly claims that the discount holiday is greying out. John Lewis, who previously spoke out against the discount day, reported its best ever weekly revenues of nearly £200m (Guardian, November 2016).
Social proof is one of the most powerful psychological heuristics, it links the persuasiveness of a behavior or idea with how other people respond to it. Your brain reduces the perception of risk associated with an idea, or activity, when you see other people engaging in it. That’s why we’re all drawn to movies with high IMDb scores, best-selling books, and crowded restaurants.