In last week’s blog, I referenced an article in Internet Retailer describing the shift in consumer buying behavior when it comes to back-to-school shopping. Studies have found that more and more consumers are buying outside of the traditional back-to-school shopping season. That said, this doesn’t seem to be an isolated trend. The same is happening when it comes to holiday shopping, according to Demandware’s Shopping Index. The index found that the shopping calendar has leveled out between January and October as consumers move toward shopping equilibrium. Holidays and other traditional shopping periods will always remain strong but we are beginning to see an end of the traditional seasonal promotion cycle.
Nothing’s stopping a consumer from picking up a few holiday gifts for friends and family at the tail end of summer or grabbing a few gifts in January during the post-holiday sales period. Consumers want deals and off-season promotions such as Amazon’s Prime Day and Alibaba’s Singles’ Day which offer consumers a way to feel they’re getting a better deal buying out of season.
Thus, in order to prepare for off-season promotions, retailers must enhance inventory visibility, improve their forecasting techniques and provide consumers with the access to purchase whenever and wherever.
Personalization is a critical capability to help retailers maximize the year-long shopping season. By aggregating customer shopping data from across the shopping journey, retailers can offer personalized promotions, offers and other messages to draw consumers online or in-store.
Obviously, it is time for retailers to gain insight into their customers buying patterns and changing buying patterns to adapt and meet customer expectations. JustEnough helps its clients to improve promotion management capabilities in order to predict and analyze promotions for better performance. Coupled with our Customer Insights module, these solutions can further enhance a retailer’s ability to act upon key customer insights derived from vast amounts of data to meet customer demand at the right time and channel.
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