The holiday season in eCommerce has already begun to ramp up. And as businesses look back over the spring and summer months and see COVID-19-enforced changes to operations, this peak time of year will offer an opportunity to reach out in a market that has been accelerated by 4 to 6 years.
Along with the raft of other changes we’ve seen happen to eCommerce, businesses should be aware of how to approach an altered holiday season too with marketing strategies shifting to meet the new norm. But what exactly does this look like and how should you look to approach the 2020 Holiday Season?
Longer campaigns leveraged to win over consumers
This year, marketers be confident about leveraging longer, more personalised campaigns to win over consumers in the Holiday Season with the eCommerce audience having changed and new expectations in place. By marketing discounts with shareability and urgency, businesses are still able to incentivise consumers using long term holiday-themed campaigns that drive revenue. Add in to this the opportunity to push customer-service friendly benefits like fast and free deliver, free returns, and gift wrapping and it is easy to see how short term campaigns are falling by the wayside.
Black Friday, for example, is thought to be dead as event-driven campaigns are being elongated and dragged out over extended periods of time where discounts are marketed to consumers for weeks not days. Even the likes of Amazon Prime Day are no longer one day events.
In a similar vein, with remarketing solutions such as Cart Reminders, marketers shouldn’t be afraid to alert consumers on a more frequent basis as such campaigns will likely translate into consumers who are nurtured back to the site. By letting them know that they have items left in their cart over an extended period you are likely to stay in the forefront of their purchasing decisions.
A need to optimise supply chains and offers using AI
Secondly, one of the frailties in eCommerce exposed by COVID-19 and the initial lockdown was the impact on supply chains. Businesses are now having to optimise this aspect of their operations more thoroughly with contingency plans in case unprecedented circumstances once again force disruption.
Supply chain optimisation does, however, also translate to website marketing efforts. The boom in eCommerce activity that is set to take place this Holiday Season will see more shoppers looking for offers online. When products that are marked with offers reach the point of exhaustion and are running low on stock, the need to provide consumers with a discount becomes obsolete.
This is where eCommerce businesses need to be savvy about aligning stock, supply chains and their marketing efforts in order to fully maximise their revenue this Holiday Season and remain competitive with the likes of Amazon who have clear pricing strategies.
Consumers still want to spend but must buy early
Despite the changes consumers will continue to buy in the holiday season, October to December will still be considered high time, and eCommerce will be stronger than ever with increasing online demand.
The increasing online demand is anticipated to have an impact and see a boom in activity. “For the last four years, e-commerce growth has averaged between 13% to 17% increase, and last year it was up 14.7%. This year it will go ballistic, somewhere around 25% and it may go higher,” according to Rod Sides, Deloitte’s vice chairman and U.S. leader retail and distribution. The knock on effect has seen consumers warned they must buy early to avoid missing out as firms may struggle to cope if consumers leave all festive shopping until the last minute.
Businesses should remedy this by optimising their eCommerce practices and customer journey’s on their website so they are prepared to compete with the likes of Amazon, who are now thought to be taking 1 in 3 online sales in the UK, amongst other big name brands who are shifting their attention to eCommerce. Alongside this, Amazon Prime Day is estimated to bring in $9.91 billion worldwide.
To learn how to do this, best prepare for this Holiday Season, and compete with the likes of Amazon, download Cloud.IQ’s eBook - The Ultimate eCommerce Guide for Increasing Revenue.