As Retail UK gears up for Christmas it may wish to heed a warning from the Ghost of Christmas Past. A massive retail opportunity was wasted at Christmas last year. At Qubit we’ve looked into what our unified visitor data hub could tell us about both consumer shopping behavior and retail responsiveness during the 2013 Christmas period.
The bad news? We found that UK retailers walked away from a massive £1.5bn by neglecting to properly personalize their offers to online visitors.
It shouldn’t come as a surprise to anyone that online is now a principal player in the Christmas retail bonanza. According to the Office of National Statistics, internet sales increased by 11.8% year-on-year in December 2013 and by 1.8% compared with the month before. The British Retail Consortium reported that nearly a fifth (18.6%) of non-food sales happened online over the Christmas period.
We now have unprecedented ability to understand how customers behave online. Many retailers however don’t have strategies to take advantage of this at Christmas. Of 170 retailers that KPMG surveyed last year over Christmas, only 8% collected information on shoppers’ tastes and preferences and only 44% offered customer reviews on site.
We have published a piece of research that you may want to download if you are interested in our six bite-size lessons from last Christmas or indeed our top tips for making more of Christmas this year.
- what day of the Christmas period you have the highest traffic yet the lowest conversions and how to fully exploit it
- what the most common bugbear that stops online visitors from converting at Christmas (clue: it’s not price, product or availability…)
- how tools like geo-location can ensure you stay one step ahead of your competitors during the busiest season of the year