Holidays are time-consuming, idealistic, boogieing and highly intensive. As such, going into the holiday season requires potential and immense amounts of it. It requires strategy, and the ability to understand what works and what doesn’t. Different customers have different thought patterns and different purchase patterns, as such, there are those that will buy immensely during the holiday season and those that will not. There are those that are aggressive in their purchases, maybe because they just buy, without factoring in their budgets or they are just willing to spend. After all, it is that time of the year to spend what you have saved over time.
On the other hand, we have the romantic category. People out to impress their loved ones. Love dictates their spending needs. They may be very conservative in their normal life, but during the December holiday season, love determines what they will do next year. New Year goals kind of thing! Maybe one of the goals is to marry next year, or they are just lovers by default and are looking forward to impressing their better halves. You never know!
Then we have you. The bridge between their escapades, their good, and bad decisions and everything they desire for. On the other side of the plate, we have your business and its determination towards bringing in more revenue. The alma mater is the season we are in, the December holiday season, which basically started a while ago.
CNBC makes the argument that, if digital spending during November and December hit $147.3 billion, which it is estimated to, then that will be a 14.1% increase from last year.
To brighten the argument, Adobe Analytics estimates that Cyber Monday sales were estimated to hit $9.4 billion, almost 18% from last year.
Again, CNBC goes forward and points out that this is going to be a short holiday season, as such, and as Brian Cornell says, “Every day, is going to count.”
The question is, what are you doing every day, during this holiday season? What are you aiming at for your business? Remember the end should justify the means. How are you aligning yourself to consumer need and building on it to achieve the end?
Personalization is an interesting pattern, but how are you implementing it? How’s the thrill? What’s the greatest thing you have done this year and how interesting is it to you? Is it your medium towards success this season, is it a reality or just a fantasy?
Did you know that personalization is not just about email retargeting or reach out endeavors? You can personalize all through your customer journey.
Back-on-back question, are you using pop-ups? How does the content in the pop-ups sound? Is it intriguing? Is it captivating? What does it imply? what does it do to me, assuming I am your customer. Again, what kind of triggers do you have in place apart from the exit and entry triggers?
Personalization can help you out a lot, especially if you do it right and adventure on all of its attributes. Make it so intriguing that when I see one, I be like, wait! Wussup? Did you say I save $100 if I buy that bunch?
Let’s take a look at what some of the biggest retailers are doing to nail it during this holiday season.
Walmart is an American multinational retail corporation operating a chain of hypermarkets, discount department stores, and grocery stores in Bentonville, Arkansas. It was founded by Sam Walton in 1962 and incorporated in 1969.
Currently, and according to Statistica, the company is estimated to have more than 600,000 Big-Box Department Store employees in the United States, worldwide net sales of more than $400 billion representing more than 3.7% gross sales this year.
At this point, ask yourself, where are you and what are you going to do to achieve what they have from a simple start-up just like yours.
How is the company going to achieve this?
Before this, you have to keep in mind that Walmart’s biggest competitor is Amazon. And, Amazon is the biggest retail company in the world. Despite this, Walmart has managed to report a more than 37% increase in its sales revenue this year.
Its success has basically been based on the idea that they can’t sit around and wait for Amazon to do all the business.
What are you doing?
To apprentice its growth, Walmart developed a strategy that fully integrated channel-agnostic consumer offers matching Amazons’. Building on what the customer does, offering the best pricing on products while ensuring on relevance, convenience, and diversification in eCommerce or beyond.
Secondly, Walmart leveraged its extensive store network to expedite online orders by shipping orders directly from its stores rather than from remote warehouses. What this did is that it enabled customers to place and pick up merchandise from their neighborhood stores, hence saving time, avoiding fees, and building on brand convenience hence trust-ability.
Most eCommerce stores start by dropshipping, but do they have the best suppliers?
Those are the words of Panos Mourdoukoutas by the way.
In the heat of your competitor, what does this mean for your eCommerce business?
From one end, during this holiday season, you have to appreciate the power of product diversification. Secondly, you have to acknowledge that it’s you and only you to get the business done. Further, you have to factor in how powerful technology is and what can we do to make sure that we emerge as winners in the end.
During this holiday season, Walmart has invested so much not only on their products, but also on customer endurance through immense holiday deals.
These deals include all-day discounts - perception to include deals on an hourly basis - the impact is that you will build your relevance overtime, keep people coming back [traffic], hence, and possibly, more purchases.
Likewise, according to its store, they are currently building on bringing back what was sold out to make sure that it attracts the value it had before- this holiday season.
This is diversification from different angles.
Just look at their website before buying into my story.
You know what products sell and which don’t, how can you leverage this before the holiday season ends?
Bring back products that were sold out, invest in good software to make sure that your website is fully optimized. In the end, make sure that you build on customer trust and convenience.
Don’t wait for products to take more than a month before they are delivered.
I want my purchase delivered before Christmas. Period.
Amazon is big. Bigger than the Beatles or your favorite music band. It’s not built on repetitiveness but diversification. It’s built on its love for technology and currently, the founders’ love and enthusiasm towards civilization and humanity. This brings far-reaching value to the customers and the brand in general. After all, philanthropism is a real thing and it brings along a big deal of free marketing and trustability as long as you touch one heart or two.
First, Bezos invested only 250, 000 US Dollars on the startup. Then came the names. The idea behind the name at then was based on his regret for not investing in the internet and its adversity early enough.
The business name went through a number of changes from Cadaver Inc to Relentless.com. Don’t forget that the startup began in the simple backgrounds of Bezos’ garage.
The name Amazon means exotic and different by default, just the same way the company is today, different and exotic.
From its inception, the company has undergone numerous transformations and downsides including failing to open a second headquarters this year simply because of a massive backlash from local politicians and community members. - Challenges will always be there.
At the time of writing this article, the company focuses on different backgrounds ranging from eCommerce, artificial intelligence, cloud computing, and digital marketing. It is bigger than ever before and as of now, has a market value of $ 1,800.80, though a decrease of 0.97% from yesterday. However, we can’t ignore what the company has done over time to move from a backyard home store to being listed on NASDAQ with such a value, and global presence. Btw, did you know that Christmas sales and offers started way back? Check out this Amazons’ Christmas advert.
The personalization aspect of it is uptight, the need to be related with such a product is on point and the need to visit their website -or at least google about them, is driving you bananas - Point is, they are just giving you a bit of their love, what will you do with it?
What’s your growth strategy?
The company is bigger than you, but it’s still investing in offers, discounts, deals, gift cards and all. It is still aiming at growing, there’s no apex in growth, you just have to make sure that you get there. There where is no end.
What is Amazon doing this holiday season?
Apart from the usual tech advertisements, huge investments in video and TV ads, Amazon is also investing big in deals and numerous offers. So comes the miraculous 12 days of deals, which, and not surprisingly, includes daily offers with a countdown on them.
These are deals running all the way to the apex of the Christmas holiday. Not actual Christmas deals, but deals building up to the season. Getting customers to know that you have certain deals and offers in play, and keeping them speculative of what you are going to offer next, is the approach. This that there is a strategy in it. It is bringing in new customers, retaining existing customers, enticing new ones and guaranteeing that their store remains and ranges high on search engines while playing around with customer emotions from different angles.
But it doesn't end there, according to Amazon seller central, 3 things stand out that you should consider as you get deeper into the holiday season.
- Keep track of your inventory and orders - not just keeping track but doing it proactively and intuitively.
- Make sure that your customer service is top-notch - Delight your customers on different edges while including great offers and expediting free shipping.
- Appreciate the feedback, both positive and negative, but keep focus on negative feedback. Feedback is what builds you, and as much as positive feedback gives you the opinion that you are doing great, negative feedback highlights your greatest pain point and if you think deeper, gives you opinions on how you can improve for optimality in your engagements towards great customer service and inventory management.
This season, Amazon is taking different adversaries and investing in many of them including, massive email marketing, both for retargeting purposes and general marketing, use of customized pop-ups, dynamic content on different edges, engaging in email marketing automation and making sure their omnichannel presence is completely cohesive.
You already know what’s being done and what you should be doing, how about you put your idealism back into realism?