Black Friday and Cyber Monday are no longer a day for some retailers, but a whole week. And it seems that around the holidays there is something going on every day pre-Thanksgiving to post-New Year. Besides these official event days (weeks) some retailers have mastered the art of offering rich promotional offers for extended periods, from free shipping to heavy discounts. Some whose business model is built off offering 20% every day.
With Cyber Monday revenues alone up 12% in 2015, retailers are being increasingly asked to implement cyber day’s throughout the year - a la Amazon’s Prime Day in July of last year.
But...you’ve already planned out your marketing campaigns for the year. So, what do you do in order to not oversaturate your customer base and potentially lose money?
Well, the answer is quite simple. Consumers love the word “sale” and will gravitate towards them. They love to feel like they are getting the best price on every item, and ecommerce continues to allow consumers the power to price shop effectively cross-brand. And the impact on retailers is real.
Seasonal planning is becoming that much more challenging (systematic linear planning is out the window) and as a retailer, you need to continue to react faster, and smarter. Consumers will go where the “sales” are hot. So be prepared.
If you can do this all while mapping out the right strategy to stay profitable you’ll be a hero. And if you can make a consumer feel like they are winning, you will win in turn. So, let the games continue….