As creepy clowns dominate the headlines and my email inbox fills up with pumpkins and ghouls it can only mean one thing — this is Halloween.
It seems like every retailer out there is trying to jump on the Halloween ghost train, and it’s no wonder, with the NRF annual survey predicting spend in 2016 will hit $8.4bn, the highest in the survey’s history. Even in the UK, where Halloween has always played second fiddle to the more traditional Bonfire Night, Halloween is the new holiday to back for retailers, now the second biggest party night after New Years Eve (Guardian, October 2015).
For retailers, getting peak right is crucial, but what is ‘getting it right’ in today’s competitive environment? Do you focus on systems, making sure that your site can cope with the influx of visitors, or take advantage of this to get creative and use it as the basis for a long term, customer centric strategy?
Last year Amazon picked its own peak. Recognising that retailers enjoy different sales peaks throughout the year, they created their own artificial peak, opening up a fresh day of discounts exclusively to Amazon Prime members. It was an immediate hit. That success was replicated this year. Amazon sold more than $2 billion of merchandise on an otherwise quiet Tuesday in July. Where Amazon goes, retail follows, so we’ve picked out the key takeaways from Prime Day 2016 and have some suggestions for picking your own peak in the future:
Black Friday is an oft debated topic in the retail world. On the one hand are the stories that emerge every December about record breaking sales, but on the other are the doubts that seem to be creeping in.
Black Friday has become the highlight of the Christmas season and a microcosm of the wider trends impacting retailers today.
Download “The roadmap for replatforming” and let it guide you toward running a successful data-driven, customer-centric transformation.
Today’s customer oscillates between channels seamlessly. Their unpredictable behavior has put many retailers on the backfoot, leaving them to play catch-up to changing customer whims and desires. Tablets had their moment, now smartphones are center stage and wearables look set to take the spotlight of tomorrow (IMRG, February 2016).
Listening to your customers has always been important, but in 2016 understanding their issues is vital for retailers seeking to stay ahead when it comes to customer experience. This is because we live in the expectation economy, a crowded marketplace where customers buying online will not think twice about going elsewhere if you're not up to scratch.
Welcome to the next installment in our three part blog series with Vishal Katelia Senior Manager, Global CRM at MR PORTER. For those of you who missed part one, make sure you catch up here. We’ll continue our discussion of loyalty, kicking off with the industry Vish thinks retailers can learn from.