Four Tips to Help You Capitalize on 2016 Insights Find an Edge This Holiday Retail Season

A quick refresh: Last year taught us that the mobile experience is here to stay. Adobe reported that through early December, half of website traffic and 30 percent of retail sales came from mobile sites.1 From an eCommerce standpoint, Amazon is still king—Slice Intelligence suggests that the online behemoth captured nearly half of holiday web sales.2 Retailers also learned that a buyer's in-store experience needs to be more relevant and harmonious than ever before.

Customers' expectations of what a shopping experience should be have evolved. To truly engage with customers and build loyalty, retailers need to create a cohesive, relevant and consistent experience. But just how can this be accomplished?

Here are some tips to help drive engagement (and revenue) for the upcoming holiday season:

1. Maximize Opportunities With Your Best Customers

Studies suggest that acquiring new customers is five times more costly than retaining existing ones.3 Enhance your customer's in-store experience by providing relevant offers that demonstrate value. You'll build loyalty and bigger baskets.

2. Target Shoppers Who Only Purchase Items During the Holiday With Focused Campaigns

Develop coupons or relevant offers based on shopping habits and previous purchases. These consumers may never convert to highly engaged shoppers, so don't market to them as such.

3. Create Gift Guides or Recommendations

Williams Sonoma does a great job of creating profiles in their holiday catalog, such as "hostess" and "baker," and then suggests gifts tailored to their specific purchase patterns.

4. Consider Adjusting Campaign Launch Timing

Leverage your data to understand when your customers switch from buying for themselves to holiday shopping, and when your competitors typically begin their holiday marketing. Retailers like Amazon have changed their approach to Black Friday, creating sales earlier in November. Evaluate all opportunities to stand out from the crowd.

You can't change customer buying habits. You can, however, increase revenue by creating connected experiences that bridge customers' online, offline and in-store interactions.

"It is critical to take a look at how customers are shopping your categories now to identify the best door busters and how to create bigger baskets with the right associated sales on key traffic-driving items. Simply repeating what worked last year will only create a diminished result."

Deborah Weinswig, Global Analyst, Fung Global Retail & Technology

1. Adobe Digital Insights. 2016 Holiday Recap Report (2017)

2. Slice Intelligence. Echo Turns Up the Volume on Amazon’s Ambitions as Audacious Bets Pay Off (2017)

3. CAM Foundation. Cost of Customer Acquisition vs. Customer Retention (2015)

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