Holiday Season Marketing Strategy
To find what type of marketing or media strategy could be effective to drive sales during the holiday season at brick & mortar retail stores. This could be done by looking at case studies and practices of major retailers such as Walmart, Costco, and Target. The information will be used to build a strategy to drive in-store sales during the 2020 holiday season.
2019 Holiday Season Retail Overview
- In 2019, the majority of retail stores struggled with their in-store sales with an overall 1.8% drop compared to a 6.9% increase in online sales.
- 2019 was a record year for online sales due to a strong increase in the number of consumers doing their holiday shopping online.
Change in Consumer Culture
- Apart from the convenience of online sales, the in-store retail industry is also struggling because the younger generation of shoppers have changed their mindset about consumerism and are makeing more sustainable choices when it comes to shopping.
- Some industry analysts are advising retailers to change their focus from driving sales to customer acquisition and retention.
Marketing Initiatives to Boost Holiday Sales
- Retailers should use the most appropriate marketing channels to heavily advertise sales and promotions during the holiday season.
- Using emails remains a very effective method to reach customers, up to three times more effective than social media, according to McKinsey.
- A company like Kohl used used a deal to accept Amazon returns to increase footfall, but it is not clear how that has been converted into sales.
- Upgrading in-store experiences with a more engaging shopping environment for shoppers is also important during the holidays.
- In addition, retailers could use more technology at the store to make shopping easier, such as making it easier to find items and avoiding queues. Retailers such as Sam's Club have been considering these innovations.
- Another initiative is to run localized and relevant mobile ads that can attract customers to their closest store.
In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.
Proposed next steps:
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After initial research, we propose to provide (1) 2-3 case studies of major U.S. retailers who have launched specific initiatives to attract customers to their stores during the holiday season. For each initiative, we will provide a short overview, the rationale behind it, and whether it was effective if the information is available.
Alternatively, we can provide 4-6 marketing best practices used to attract customers to brick & mortar retail stores during the holiday season. For each best practice, we will explain what it is, why it is a best practice and 1-2 examples of retail companies who have implemented them.