It may seem too early to be talking about Christmas. However, for brands and retailers the planning for this crucial calendar event will already be underway. Success, at any time of the year depends on truly understanding the customer; who they are, their needs, likes, dislikes and crucially what’s really important to them during the festive season.
1. Price is still a key decision making factor
39% of shoppers said that price was the most important factor when choosing a product, compared to 30% in December 2010.
2. Quality assurance is now more important to shoppers.
29% of shoppers said they’re willing to pay extra for quality assured products, an increase of 12% from in 2010.
3. Convenience is key.
Last December, there was a 6% increase in online sales. It’s important to realise the reason why people shop online, and that’s largely convenience. Retailers that win will be those that make it as easy as possible to buy from them, at every touch point, both in store and online.
4. Customer service still matters
Two-thirds (66%) of people aged 22-65 agreed with the following statement: “I expect retailers to provide support in-store even when I have bought online.”
5. Out of stock, out of pocket
64% of shoppers say that they experienced an out of stock situation during their last main shop, compared to 41% in 2011. Crucially, 30% of customers would swap brands when faced with an out of stock product.
This has meant that 2bn has been lost in sales across the top 4 due to out of stock, calculated by IGD.
Tactical Solutions can help drive sales for your brand during this crucial period. We prioritise your product presence, availability, distribution and promotions in a way that incrementally drives ROI for your brand, influencing key decision makers and making an impact through systematic interventions.