The holiday season is now in full-swing, and everyone knows what this means. Rushed, last minute Christmas shopping, buying the perfect clothes, the perfect decoration, party lists and ticking off the gifts you pondered on for the last 3 months, finally off of the Christmas list. It sounds exhausting and it most definitely is. It is also the season where both consumers and businesses alike are looking forward to- sales and products after all.
This holiday season, retails is expected to see a few different trends on how it will go about navigating the festive shoppers and keeping up with them alike.
The first observable trend is strategies surround omnichannel methods.
It is understood that the holiday season sets the tone of shopping. Retailers increase this leverage by reaching out to consumers through different channels, encouraging them to use the same to make their purchases.
Online shopping is booming during this season. Furthermore, a traffic with the home-delivery channel is expected due to the sheer amount of orders made at the same time and thus, companies must look for different ways to have products shipped. For example, a method called BOPS – Buy Online and Pick-up in Store, where, as the name suggests, products are picked up from the store.
Sometimes, during the earlier quarter of the year, a major playing company in a field may shut down or migrate. This creates a market void. Essentially, this means that there is a big boss of the rig and the field is open to all players. Businesses should take this opportunity to get a hand at dominating the market during the festive season when demand and sales are high.
Loyalty schemes are nothing new to the world of retail. However, with the oncoming wave of festive shoppers, companies will look forward to gaining new audiences and regulars. This will be achievable only if the player focusses on a reward-based system rather than a perk-based system. Loyalty customers should be provided with rewards during the season rather than discounts or off-prices, thereby gaining attention from non-member customers. This is a trend that can be applied and used throughout the rest of the quarters in the year as the reward system is promising rather than the mysterious and unpredictable nature of member-only discounts and off-prices.
These will be the four major trends in this year’s retail field. Several firms around the world aim to make their biggest impression during this time of the year and due to the reasons mentioned above, one can see why.
This is also a great time for new retailers and regions with them to booms as well. For example, retail firms companies in Israel have seen a massive boom this year and this season will be a perfect opportunity to expand their reach. Emerging retail firms companies in Israel will also have optimistic turnovers and can expect a good amount of reach, if these trends are taken as opportunities to grow.