It’s crunch time — for holiday shoppers and Q4 goals, alike. There’s still time, though! Columnist Amy Bishop explains how you can guide those last-minute shoppers to help you hit your goals.
According to a survey by the National Retail Foundation (NRF), 55.8 percent of holiday shoppers will splurge on themselves and/or others for non-gift items. So one of the fun challenges toward the end of Q4 is that your demographics might start to blur a little bit.
If you’re a retailer, the people who are typically in your target market aren’t the only people you want to target — you also want to make sure you’re capitalizing on the people who want to buy them gifts.
Branded searches become even more valuable during the holiday season. Consider this: You need to compete for the people who are buying gifts for your loyalists. Why? Because if competitors bid on your brand terms, a non-loyalist may not be able to distinguish your value from a competitor’s, especially if the other brand is recognizable or is perceived to be a better deal.
Conversely, a competitor bidding strategy can be valuable. If you sell similar products and boast a stronger value proposition, you may be able to nab some sales.
What better way to pick up those extra sales than to capture people who are so far behind that they don’t even know what they are buying yet.
Normally, these shoppers would be considered to be early in the buying cycle, but that ticking Christmas clock translates into low-hanging fruit for retailers.
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