Wednesday, November 29, 2023

Christmas campaign loses momentum

A Christmas with low goals. The holiday campaign, one of the most important of the year for retailers, lost momentum in the United States, a thermometer for the retail sector, according to a report by Bain&Company.

specifically, A 3% growth in Christmas sales is expected, which is the lowest figure since 2018. Total sales reached nearly $915 billion in the United States, with 70% of it in stores.

Among the indicators that hinder this evolution are the increase in non-discretionary expenses (increase in the cost of living, housing, and healthcare…) and high-interest rates. On the other hand, there may be a shift due to the increase in purchases that occur during events such as Black Friday.

To increase business sales, the study suggests six points to consider. The first is to look forward to the shopping season so that clients don’t run out of budget. Second, there is the launch of strategic messages and promotions to attract customers.

Another point is to emphasize the positive aspects of the company to send positivity to consumers, in addition to improving customer service and personalizing the offer thanks to AI.

Finally, the study aims to develop the growth of the online channel and aims to create facilities for customers through home delivery, return, or trial of products and services.

Changes in consumer behavior continue to present opportunities and challenges for companies. Therefore, using a good Christmas campaign strategy is key for retailers.

It all adds up to a new consumer group on a global scale that demands an experience phygital complete, that is, they want to have physical and digital offers always and liquid to get the products with the biggest discount. Therefore, companies need to conquer this new audience and gain a competitive advantage.

World Nation News Desk
World Nation News Desk
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