It’s the middle of November. Christmas movies on are TV, the songs are on the radio. Yes it is OK to sing the rest of “Silver Bells”.
Many forecasters are predicting a 3.5%-4% overall increase in total holiday sales, a deceleration from last year’s 5.2% growth. But the e-commerce segment remains a hot growth area as more shoppers move online for their holiday shopping needs. Sales in this sector are forecast to rise between 6-8% in 2015, hitting as much as $105 billion, the National Retail Federation has estimated.
So before shoppers rush home with their purchases, it is possible to find out what’s making them rush to your real or mobile door. How is that happening?
At Quester, we have been digging into that very question. But to get to the key issues to uncover, there are steps to understand on the path to purchase whether it is now for the holidays or throughout the year. What does our client really want to know and need to know? Who is the core shopper segment? Who are the sub-segments? With this information, we go deeper with introspective questions like these.
Are formal or informal lists made by members of the family? What goes into the list development? How much specificity is offered by the gift recipient to the gift givers? How is the spending in a family determinedâ€¦and split or allocated? How much pre-buying research is done by the gift recipient and gift giver â€“ Internet research or simply looking at television, newspaper or ads that come in the mail? Is the research to find the best item, the best deal or something else? Who are the early shoppers (pre-Thanksgiving), the Black Friday/Small Business Saturday/Cyber Monday buyers, and the “uh oh, what time do the stores close on December 24” last minute gift grabbers?
Why do shoppers choose online vs. in-store shopping? What makes the shopper choose a big box retailer, a department store, a local outlet or do it all online? Where do giving gift cards factor into the decision?
If these questions are similar to the ones you are hearing in your organization, reach out to us. We are here to collaborate and educate on our unique Path to Purchase approach.