Now that another holiday is behind us, what are the big takeaways for wireless retailers? Here are some of the key takeaways from the holiday shopping season for 2015.
- Millennials have gone entirely mobile. Dynatrace’s 2015 mobile consumer survey shows that millennials have pretty much abandoned television commercials and Sunday advertising supplements to take their holiday shopping almost entirely online, on the go, and done with short attention spans. Mobile retailers should also be aware that nearly half of millennials will use their smart phones and other devices to make purchases—even when they are already inside a brick-and-mortar store. Millennials will also quickly abandon non-functioning or hard-to-navigate applications, with half saying that they would abandon apps that fail to load within three seconds. Over half of this target market will also complain on social media if they have a negative experience online.
- The holiday season is a great time to test social commerce. One new trend affecting mobile retail is the fact that social networks including Facebook, Pinterest, Instagram and Twitter have introduced “buy” buttons that make it simple for shoppers to make purchases directly from these media platforms, and on any device. This holiday season, retailers learned that testing out social buy buttons well in advance of heavy purchasing days like Cyber Monday is worth the investment.
- High volume shopping days threaten to wipe out an outlet’s inventory. From Black Friday to Cyber Monday and even Boxing Day and the returns season after the holidays, there are a great many days leading up to Christmas where consumers are shopping for deals online. That means that if your retail operation doesn’t have a robust inventory control system, you can quickly find yourself with empty shelves in a store with either angry and frustrated customers or no customers at all. One smart investment for any mobile retailer is to install a modern video surveillance system with built-in analytics. Not only do these new tools help beef up security in your mobile store but the on-board data analysis package can help you track your inventory in real time so you know when to reorder products and how much to buy.
- Personalization is key to managing relationships. Because shoppers can navigate over to the competition’s store in seconds, personalization is the key to making your online customers feel like they are valued and appreciated, especially during the holiday season when lucrative demographics can feel like they’re under assault with sales advertisements. Much like the seamless shopping experience that Apple provides in its retail stores, consumers want their personal information to be utilized to coordinate a better overall shopping experience. Personalization also helps with retention and in acquiring potential new customers.
- The shopping’s not over when Santa comes down the chimney. Just because the holidays are over doesn’t mean there aren’t still consumers looking for deals. Verizon found that broadband traffic attributed to e-commerce shopping activity reached new heights over this year’s New Year’s holiday weekend, sometimes reaching over 30 percent above average daily levels. When retailers entice shoppers with time-bound promotions, it creates a sense of urgency to which consumers respond in droves.