{"id":3039,"date":"2020-09-15T14:09:18","date_gmt":"2020-09-15T19:09:18","guid":{"rendered":"https:\/\/www.rmservicing.com\/?post_type=articles&p=3039"},"modified":"2020-09-15T14:09:18","modified_gmt":"2020-09-15T19:09:18","slug":"holiday-2020-how-to-win-sales-and-influence-shoppers","status":"publish","type":"articles","link":"https:\/\/www.rmservicing.com\/articles\/holiday-2020-how-to-win-sales-and-influence-shoppers\/","title":{"rendered":"Holiday 2020: How to Win Sales and Influence Shoppers"},"content":{"rendered":"\n

2020 will go down in history as the year of unexpected and\nunwelcome news. However, one surprising bright spot was that retail sales did\nnot plummet. Year over year, general retail\nsales actually rose by 2.7%<\/a> and grocery sales skyrocketed by a whopping\n12.6% annual increase.<\/p>\n\n\n\n

These trends leave most cautiously optimistic that 2020\u2019s\nholiday sales will stay strong too. <\/p>\n\n\n\n

That said, we do know that it\u2019s a holiday shopping year\nunlike any other so the question on brand\u2019s and retailer\u2019s minds is: how best\nto prepare?<\/p>\n\n\n\n

How Will Retailers Prepare?<\/h2>\n\n\n\n

Retailers have gone to great lengths to keep the public safe and still shopping. Many of these measures will extend to the holiday season to keep up with the expected surge.<\/p>\n\n\n\n

No Heavy Foot Traffic<\/h3>\n\n\n\n

Retailers don\u2019t want the normal mass of shoppers, breathing\nall over each other and crowding the aisles. Instead, they\u2019ll focus on\nminimizing risk and one way to do that is to minimize foot traffic.<\/p>\n\n\n\n

This could look like one-way aisles, limits on the number of\nvisitors allowed, and other social distancing measures.<\/p>\n\n\n\n

Start Shopping Earlier Than Ever<\/h3>\n\n\n\n

The most effective way to keep people at arm\u2019s length is to\nsimply have fewer people in the store. But to avoid losing sales, that means\nshopping must start earlier than the typical 3-4 weeks of holiday promotions.<\/p>\n\n\n\n

This year, expect an extended push from late September all the way through the end of 2020, topping out at about 10 weeks of holiday-themed shopping.<\/p>\n\n\n\n

Online Sales<\/h3>\n\n\n\n

Of course, online sales will be a heavily relied upon channel. For newer brands, this can be a great way to get a foot in the door at a major retailer. And, for established brands, it\u2019s a great way to maximize potential sales.<\/p>\n\n\n\n

We know how retailers are preparing but how will brands\nposition themselves for a successful season?<\/p>\n\n\n\n

Standing Out On In-Store Shelves<\/h2>\n\n\n\n

Foot traffic might be lighter this year, which makes it even more important to have products that stand out. From understanding what shoppers are thinking to a carefully executed strategy, brands are already preparing for the most important shopping season of the year.<\/p>\n\n\n\n

Consumer Considerations<\/h3>\n\n\n\n

Consumers are more budget-conscious this year. Despite retail sales holding steady, 52% of U.S. consumers have reduced their spending<\/a>.<\/p>\n\n\n\n

Even those with cash to burn are likely to be entering a\nstore with a specific goal in mind. There will be far fewer \u201cbrowse-and-pick-up-something-fun\u201d\nshoppers.<\/p>\n\n\n\n

To meet the changed behavior, brands must differentiate themselves from the competition at every buying stage but especially on-shelf.<\/p>\n\n\n\n

How Brands Can Prepare<\/h3>\n\n\n\n

First, look at your entire marketing strategy. Can your item\nbe the reason someone\u2019s going into the store? Digital ads can spark in-store\nintent.<\/p>\n\n\n\n

But if your would-be buyer is already in the store and doesn\u2019t intend to purchase your product, there are still ways to appeal to them.<\/p>\n\n\n\n

Here are 4 tactics that can help brands sell in-store products:<\/strong><\/p>\n\n\n\n

1 – Bundling<\/h4>\n\n\n\n

Who doesn\u2019t love opening a beautiful gift that actually has more gifts inside? Consider hard or soft bundling your products together into themed offerings to make them more compelling. For instance, many people moved this year so a home warming bundle might include new coasters, a picture frame, and a matching pillow. Whatever you produce, see how your offerings could fit together to be more enticing. <\/p>\n\n\n\n

With people staying in more this winter, build that into\nyour packaging and positioning. \u201cStay-at-home\u201d bundles for kids are sure to\nmake parents say, \u201cyes please!\u201d<\/p>\n\n\n\n

2 – IRCs<\/h4>\n\n\n\n

Deals, deals, deals. We all love a deal. Place Instant\nRedeemable Coupons<\/a> (IRCs) on your items so customers can easily see their\npotential savings. 90% of consumers are more likely to purchase if they see an\noffer of instant savings.<\/p>\n\n\n\n

This tactic is especially interesting this year when people\nare seeking to get more bang for their buck.<\/p>\n\n\n\n

3 – In-Store Signage<\/h4>\n\n\n\n

Be bold and creative. Use in-store signage to drive precious foot traffic your direction. Keep it simple and clear and when possible, exciting, and intriguing. Before using signage that worked in the past, be sure to check it against today\u2019s retail climate. Does the messaging still resonate? Do the images work in 2020? <\/p>\n\n\n\n

4 – Displays That Wow<\/h4>\n\n\n\n

Window shopping and the holidays feel like they go\nhand-in-hand. Replicate the feeling of walking down the streets of New York and\npeering into magical store windows within your own retail partners by paying\nextra attention to your displays. <\/p>\n\n\n\n

People want an experience and, if we\u2019re being honest, distraction. Create a unique, unexpected surprise for in-store shoppers and ignite some holiday cheer (and hopefully purchases) with your displays.<\/p>\n\n\n\n

Don’t Forget About Back-End Operations<\/h2>\n\n\n\n

Your product strategy could glow on the shelves and be the \u201cit\u201d buy of the season but if you\u2019re not in stock due to incorrect counts or stocking frequency, you will not maximize the opportunity.<\/p>\n\n\n\n

Having a retail merchandising partner, like RMS, can help\nyou make sure the in-store marketing and operational side of the holidays is a\nwell-oiled machine. The last thing brands need this year are lost sales because\nof errors in retail execution.<\/p>\n\n\n\n

Retail merchandisers offer a\nwide range of services that help brands stand out and sell out at big-box\nretailers like Target.<\/p>\n\n\n\n

For example, here are some of\nthe services that RMS provides:<\/p>\n\n\n\n