Holiday season is a hectic time for the retailers as they have to maintain both online and offline retail outlets. To get through this season on top of the competition, some of the preparations discussed are necessary.
Fremont, CA: The retail's most important months of the year are already here, and the holiday season will play out in full swing. The trajectory if revenue from here on matters the most to the retailers, especially for those who have taken some hits to the revenue this year. According to a research by the accounting and consulting firm BDO, retailers have closed almost 7300 stores so far. Several retailers are also reported to be on the verge of bankruptcy in the coming year. This is a sign for the retailers to streamline their backend operations, optimize both and offline experiences, and to formulate quirky plans for the promotions. Some ways retailers can prepare for the holiday season are narrated below:
Getting Websites Ready for Increased Traffic
Black Friday causes one of the biggest and busiest friction points in online traffic. As the customers rushed to shop online for the weekend, it was found that sites had a technical glitch. The result of which was a server error caused due to the overload of the accounts. By keeping websites up and running continue to persist, even outside of the holiday season. A recent report by LogicMonitor revealed that 96 percent of global IT decision makers reported at least one outage occurred in the last three years. The capability to provide a seamless online practice for an increased user base may define who has a successful fourth quarter.
Shoppers usually prefer to buy goods from various deals during the holiday season irrespective of a store or online. By giving priority to the discounts and specifying the savings, retailers can situate themselves in a safe place in the coming months.
Retailers have also been spending vast amounts of cash on advertising in digital and social media, according to a new study by kantar. However, the previous season showed us that the price-cutting started early and lasted longer, allowing the shoppers to learn a lesson to wait for those deals before purchase. To encourage people to engage first can only be done by offering calculated deals that have been specifically targeted.