With Halloween upon us, shoppers have already started their holiday preparations. If you are a retailer or manufacturer, you must also be prepared for the onslaught of shoppers looking to buy more for less this year.
As we talked with numbers of retailers across the country, we’ve heard from many about their number one concern this holiday shopping season: When will shoppers open up their wallets? With anxiety and anticipation setting in, we are seeing the re-emergence of layaway and discounting programs as retailers do everything they can to bring shoppers in stores.
Believe it or not, shoppers are in more control than ever before. This means retailers and manufacturers must keep in mind the purchasing strategies shoppers will employ this holiday season in order to be successful:
Tip: Ensure that whatever promotions you offer as a manufacturer are fully linked at the retailer level, such as through Web sites and the consumer shopping level (i.e. groupon, etc.)
Tip: When promoting, understand regimens and rituals, such as how weekends are primary baking days for consumers. Understand that warm soothing meals for kids are important during this time of year and that entertaining becomes a critical part of family celebration which we expect to grow this year.
Tip: 61 percent of Americans are survivalists, so many can’t stock-up and buy three of something. Ensure that you are tuning your promotions to your audience.
Tip: Bring flavor, meal and ethnic innovations to market in your recipes during this holiday season.
Tip: During this holiday season, it’s all about shopper expectations of being able to buy products when they want to buy it. “Out of Stock” is big a no-no.
Tip: Bundle not only meal options, but dessert and snacking. Experiment with shoppers to delight them and not just sell them products.
Tip: Expect store brands to be part of meal components and position products accordingly with value based offerings and not just price.
The choices are simple. Retailers and manufacturers must either understand what will meet the needs of this year’s holiday shopper or have a lackluster holiday season.