There’s no avoiding the holiday crazies now that we’re past Halloween! Make sure you’re prepared to capitalize on your busiest time of year by learning from the 2016 holiday season.
The National Retail Federation (NRF)’s 2017 Holiday Planning Playbook surveyed consumers and analyzed last year’s data in order to provide targeted recommendations for the upcoming season. We took a look and pulled out a few nuggets of wisdom that we think will help everyone maximize their sales:
- Offer wishlists. More than 40% of survey respondents said their gift ideas came from taking hints from loved ones. If you’re not set up to execute wishlists electronically, try printing out a wishlist card to pass out to shoppers and offer to keep them on file by name for their friends and family.
- Maximize impulse purchase opportunities. Approximately 7 in 10 Millennial (66%) and Generation Z (71%) shoppers said they made more impulsive purchases in 2016 than 2015. Make sure you have add-on items placed near top-sellers and at the checkout counter to capture the customers waiting in line. Capitalize on shoppers who want to treat themselves by offering them an extra bonus for buying a gift card — perhaps a $10 gift card for purchasing $50 or more?
- Talk to your customers. NRF survey data revealed that more than half of shoppers said they preferred email notifications of sales and offers. Shoppers are looking to retailers to provide recommendations to help cut through the noise of holiday advertisements. More than half of holiday shoppers said they purchased an item that was recommended directly from a retailer, with men (58%) more likely than women (51%) to do so.