04 Nov 2019

Retailers Need Dynamic Digital Technologies This Holiday Season

By: Punchh

Strategy

The holiday shopping season is right around the corner, and for some retailers in the U.S. it often accounts for as much as 30 percent of their total sales for the year.

 Holiday statistics from last year offer important insights into customers’ behaviors that should be utilized to inform retailers’ efforts this year. Here’s a quick snapshot of consumers’ 2018 holiday shopping habits: 

  • Multichannel shopping rose with 54 percent of shoppers browsing and buying both online and in-store
  • Mutlichannel shoppers spent $326 more on average compared to online-only shoppers who spent $233 and in-store only shoppers who spent $248 on average
  • Mobile devices accounted for 54.3 of all visits to retailers’ sites on Cyber Monday
  • Mobile devices were used by 66 percent of shoppers to make purchase decisions over Thanksgiving
  • Almost half of people, 47 percent, got gift-giving inspiration online

Brands and retailers must embrace changing consumer behaviors and preferences toward digital marketing and communication and gain control of the data that will help them make better, faster decisions that deliver the type of experiences that shoppers are looking for today.

While the potential is in reach to drive powerful results, retailers often lack the ability to effectively execute a digital strategy.

What they need is the right technology infrastructure and ecosystems in place, so they can turn all the product, customer and location data they are collecting into actionable insights that drive innovation and enhance the overall shopping experience during the hectic holiday season and all year long. This requires prioritizing in the investment of a technology infrastructure that supports data collection, storage, and analysis, including the cloud, mobile, social, analytics, AI/ML and enterprise solutions.

Interested in learning more about how to meet customers’ current needs for convenience and personalization? Download the free ebook: Reach New Heights of Omnichannel Personalization through Retail Digital Transformation.

Take a look at how brands are:

  •     Moving beyond the traditional retail model
  •     Digitally transforming their businesses to provide seamless in-store and online experiences
  •     Implementing multichannel marketing campaigns to deliver personalization

Gain new digital insights today, don’t miss the free ebook