‘Tis officially the season for retailers and brands to be at the top of their games and get the most out of the holiday shopping crush. Like the pro and college football teams whose seasons’ failure or success will ride on how they play in November and December, the difference between winning big and merely winning at retail could depend on marketers’ skill at making rapid, in-game adjustments. That means jumping in for quick-hit research that can feed on-the-fly marketing adjustments to maximize holiday revenues.
Here’s how the shopping landscape is shaping up:
Defining the holiday shopping season as the entire months of November and December, the National Retail Federation expects sales to grow 3.6% to 4% over the 2016 holiday season spending of $678.8 billion for all retail and food goods, excluding automotive and restaurants and drinking establishments.
The restaurant/drinking establishment category enjoyed 5.2% year-over-year sales growth in November-December of 2016, according to the U.S. Census Bureau. But can they repeat? The National Restaurant Assn.’s recent polling detects some jitters among restaurant operators it surveyed in August, when “their six-month outlook for sales fell to its lowest level in more than a year.” Through the first three quarters of 2017, restaurant/drinking sales had risen 2.9% year-over-year above 2016.
It’s never too late to find out what shoppers are experiencing, and to use that intelligence to inform tweaks to holiday marketing. In many cases, you can obtain the real-time data you need in a single day with mobile-app technology that lets you reach a proprietary panel of more than 1.3 million U.S. consumers while they’re out shopping.
– Mobile GeoLocation is a particularly valuable gift to holiday season researchers. For example, brands can enlist shoppers to be their eyes in the store aisles, informing them whether product placements and brand displays are in fact what the brand arranged with retailers.
– Retailers can uncover bumps in shoppers’ experiences in time to address issues such as service and ease of finding merchandise. Fast holiday data has unusual force when it comes to decision-making that can maximize sales and increase shoppers' goodwill.
The ideal tool when speed is of the essence is to do it yourself with MFourDIY® – the only all-mobile DIY survey platform. It’s built for sophistication as well as intuitive ease, with complex question types and demographic targeting, and access to the GeoLocation and multimedia features that make mobile research ideally suited to reaching smartphone-centric shoppers to capture vivid responses before recall can fade with time and the pressures of running around to accomplish all the tasks of a typically harried holiday season.
It’s also a great way to be proactive and develop data and insights to inform retail strategies for future holiday seasons. For a productive discussion on how to maximize holiday sales down to the last shopping day, just get in touch by clicking here.