Holiday shopping-Few perspectives

20171224UTC 10:22:48 am by Jemsheena E V 0 Comments

Despite of all the laziness brought by winter mornings, the urge to make holidays more colorful has made the streets more populated. Though the extensive weather conditions compel the off hours to be comparatively calm, day times are sound. Still, these calm hours are being utilized to make online purchases.

Now, after months of preparations to welcome holidays, shopping season is in full swing. Even now, it is a matter of importance to be aware of the market trends and statistics so far. This definitely would suggest how to act in remaining few days to increase the sales.  Now it is the time to target the last minute shoppers, whose number was 28% of total shoppers in 2016. Figuring out an idea about how thick the customer population was, what was the item with most demand etc. helps in properly targeting the last minute customers.

Besides the news from a Chinese University that banned Christmas celebrations for being a western culture, it still is being celebrated there. Christmas has become a firmly established celebration there. Though Christmas day remains a working day there, the preparations to welcome it  has never lost its color. Both emotionally as well as commercially, it is being well celebrated there.

Sales Returns -How it helps

Sales returns are expected to increase by 5% from 2015, making it 13% this year.  the Sales return policies are ruling the shopping trends up to a great extent. Two third of customers researched on the return policies before making a purchase.

Even this sales return trend has opened several opportunities in other way.  Realizing opportunity in this field, innovative business brains have given birth to standardized return stores.  Firms like Happy returns let the customers to return the items from participating brands to be returned to them. Thus, they help in reducing risk of returning products.

As per the surveys, 28% of the shoppers prefer online shopping to avoid risk of returning products, once they find it unsatisfactory. 73% of the shoppers find the returning process as the worst part of their shopping experience. Customers always prefer those who offer free and fast returning facilities, with funds refunded at the earliest. In this busy season, some online retailers like amazon, apple etc. have lengthened deadlines of returns.

In some cases the returns remains a blessing for merchants. While making a return, 70% of online shoppers has made a new purchase from store and a 45% from website. Thus it has opened way for increase in sales.

In this holiday season, most of the shoppers are planning to surprise others with gift cards. As per the current statistics, to be exact, 41% of them are interested in buying cards as the gift. Clothes, electronic devices etc. appears only next.

Reward Programs-another Attractive Method

Another notable element of the season’s sales is ‘rewards’. Rewards have become so important in the business sector, that it has been raised to the position of separate currency. Almost all the shoppers engage in at least one rewards program, millennials being the largest among them. While 83% of millennials engage in at least one, 73% of generation X do the same. On an average, each person participate in 4 rewards program, as per the studies.

Most of these customers (50% to be exact) make use of these rewards to buy extra gifts, which exceeds their actual plan. Few others, (26%) used to buy gifts for someone extra, who are not in their plan. A 41% make use of this for themselves.

In the final hours of the holiday shopping season, retailers should make a review of these regards and try to maximize the sales. Following all the methods to attract the last minute shoppers would definitely help in making benefits in the final hours.

 

 

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