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, and similar shopping peaks, seem to get more intense in the retail industry each year. From sales starting earlier and earlier, to discounts that condition customers to eschew buying full-price, the months leading up to December holidays have become a shopping frenzy. We sat down with Helen Schmid, Head of E-Commerce & Digital Marketing at Journelle, to get her opinion on making one of retails toughest periods successful for her brand.
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.
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Shoppers are losing interest in generic loyalty programs. The average U.S household participates in 21.9 programs, but uses less than half of those memberships actively (Colloquy, October 2015).
Despite the 7000 marketing messages consumers face every day, retail leaders are constantly searching for and finding new ways to cut through the noise, and their latest choice allows them to access consumers on their terms (Econsultancy, March 2016). The solution? Messaging apps like WeChat, Whatsapp, Viber and Facebook Messenger. Between them the big four have over two billion users and last year passed social media in terms of usage (Business Insider, April 2015).
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).