Consumer trends suggest that the forthcoming 2021 holiday season will be different for retailers and consumers, with the digital presence of retail expanding even further than before.
Based on this deeper trajectory into digital services, brands need to start preparing their digital strategy for the seasonal rush, according to Joe Harris, Chief Revenue Officer at Whereoware.
Harris has informed Digital Journal about a new survey (from Quantum Metric) that firmly states why online will remain the primary channel for those living in the U.S. to complete their holiday shopping during 2021.
Because of this, Harris believes that retailers must prepare for this online charge by focusing on three main areas or trends.
The first of these is with macroeconomics. Inflation has increased product costs as a result of material shortages and logistic barriers.
The second trend that Harris mentions is where there has been an evolution in digital platform preferences with 73 percent of ecommerce sales expected to be made on mobile devices (specially smartphones) in 2021.
The third aspect that Harris has picked up on is where forecasters are saying that consumers are looking for “want” items vs “need” items this upcoming year.
On this basis, Harris explains that it is vital that brands work quickly to create and execute a strategy that addresses these trends to make the most of the holidays this year.
In order to meet such challenges, Harris suggests merchants determine the best marketing strategy for their digital store cohesively utilizing paid media, email marketing, and social media.
In addition, Harris recommends that retailers prioritize personalization to deliver the right message to the right person at the right time. He also recommends that companies optimize their websites and apps to ensure they can handle a rush of traffic and provide a frictionless mobile purchasing experience.
Harris’ final advice is for retailers to expect, and hence prepare for concepts, like ‘Buy Online Pickup In-Store’ (BOPIS), where retailers must have both an online and a physical storefront, and ‘Buy Now, Pay Later’ (BNPL), to increase in popularity.
