Re-Inventing Retail

From the Co-Founders of The Retail Owners Institute.
Tips | Tactics | Insights on the Business of Retailing.

Which Holiday Shoppers Are Welcome? Bookmark

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A data analytics firm has identified four types of holiday shoppers, and advises marketers to have an appropriate strategy for each one. 

Well, of course, none of this is news to retailers! But we think it could make a good topic for your next manager’s meeting. (And, it might be news to some of them!)

  • How many of these patterns do you recognize among your own customers?
  • How many of these 4 types of shoppers are you prepared to serve really well this Holiday Season?

According to data analytics firm Cardlytics, there are four clearly-defined holiday shoppers:

  1. Steady shoppers: those who make purchases throughout the holiday season
  2. Early shoppers: those who front-load their holiday gift shopping
  3. Black Friday shoppers: those who buy the majority of their gifts on that one shopping holiday
  4. Late shoppers: those who back-end the whole process

According to their study, the “Slow and Steady Shoppers” account for 46% of seasonal spending. Yet you may not see them in your stores as often; they have been empowered by online shopping.

  • They seek value whenever they can get it, and the internet makes it available all the time. These folks are really excited by Cyber Monday.  

The “Early Shoppers” (doesn’t everyone know at least one of those?) represent just 10% of the holiday spend. A powerful appeal to them is product scarcity.

  • Holiday specials released early in the season can be snapped up by these shoppers.
  • They also want convenience, and to get all their shopping done at once. “Quick and easy” is very compelling to these shoppers.

Black Friday shoppers want the social experience and the deals, whether on Friday, Saturday, Sunday or Cyber Monday.

  • Support the social aspect, say with “Buy one, get one free for anyone you’re with.”
  • And make those deals highly shareable. These shoppers have friends!

The Late Shoppers are not to be dismissed. They represent 28% of the season spend! And this year, they are in for a special treat: Christmas is on a Monday.

  • You can't expect them to change, to shop earlier.
  • Instead, continue to be their enablers: extended store hours, expedited shipping, gift wrapping. And all on their schedule.

Our suggestion: at your manager's meeting, invite suggestions for how your organization can modify your approach specifically for each of these 4 shopper groups. Their input can be golden!
source: “Four Types of Holiday Shoppers Marketers Need to Reach” Cara Salpini, October 13, 2017.  

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About The Co-Founders

Pat Johnson and Dick Outcalt, The Co-Founders of The Retail Owners Institute®, have been called "The Zen masters of retail finance!"

Since 1999, they have been assembling  their proprietary content into a unique self-help website. The Retail Owners Institute is an unmatched resource that assists retailers worldwide with basic financial training, assistance and easy-to-use tools.

Their engaging and empowering how-to resources about the financial levers in retailing are informative, fun(!), and retailer-friendly. Their promise: "Everyone will 'get it'!"

Pat and Dick are recognized experts in strategic retailing. Working only as a team – Outcalt & Johnson: Retail Strategists, LLC – they have been consulting, publishing, and speaking professionally throughout North America since 1990.

They focus exclusively on retail, or wherever retail is involved. They work with CEOs, CFOs, boards and owners of retail operations, as well as manufacturers or wholesalers expanding into retail. And they also are Retail Turnaround Experts.

Since 1999, empowering retailers and store owners to "Turn on your financial headlights!"