Every year holiday shopping kicks off with the Black Friday bang and winds down into a Cyber Monday finale, not to mention countless sales in the following days and weeks. It’s a weekend of unprecedented online shopping activity when customers depend on finding the perfect (heavily discounted) gifts for friends and family. Maybe a few unexpected splurges sneak into the cart. Who knows. Either way, it is THE time to finds the deals of the year. Deals that feel like retailers are almost giving their merchandize away. So, how can these retailers turn exponential profits during the holiday season while keeping shoppers happy and loyal?
At GroupBy we have identified some simple ways to continue increasing average order values, not only for the most popular shopping days, but year-round. Just like the weekend of Black Friday sees an enormous jump in site search and sales, the week before can be a deadzone. Makes sense. Customers aren’t willing to spend until they’re sure it’s on the best deal possible. In fact, our numbers show that even site traffic and search take a significant dive during this week. By now, shoppers have an idea of what they want, and they’re willing to wait for it. And while this week may reflect low activity, it is also a window of opportunity for retailers to ensure that their Black Friday weekend deals pay off. In fact, this week is the time to ensure a larger profit margin than ever before. How? Through the implementation of successful promotion strategies. Tactics that drive activity to sites during the deadzone, assuring that discounts, coupons and above all else, products, are fresh in the customer’s mind when they’re ready to purchase.
GroupBy knows there is a direct correlation between shopper experience and increased conversion rates. Customers are much more likely to explore a site longer and purchase more items when they feel the shopping experience has been created for them. Personalization, Product Recommendations, Search As You Type (SAYT) and Dynamic Navigation are cornerstones of retailers success. In order to master Personalization, retailers must get to know their shoppers. Know what they’re interested in, what they’re in the market for and what they’re most likely to add to cart and purchase. This behavior data can be collected pre-holiday by driving potential shoppers to sites during the deadzone and will go on to provide a blueprint for the perfect shopping experience during the busiest shopping weekend of the year, increasing overall sales. When shoppers can easily find products relevant to them, especially at Black Friday prices, purchase is much more likely. With proper Personalization, they should feel confident and comfortable navigating retailer’s online stores while knowing they are getting the best deals possible long before they hit that Confirm Order button. This, in combination with premium Product Recommendations, means higher conversion rates and greater profit.
Here at GroupBy, our customers use machine learning technology which ensures that the more items added to cart, the better the retailers knows the shopper and can make pertinent recommendations that will result in purchase and continued business. Along with Personalization and Product Recommendations, retailers need the latest and greatest search and navigation to drive success. SAYT and Faceted Navigation are just two features included in GroupBy’s Searchandiser which help guide shoppers throughout their experience. SAYT gives the customer tools to speed up their shopper journey by quickly finding an item and directly adding to cart from the product suggestion. Meanwhile, Faceted Navigation guides the them through the online shopping aisle to find exactly what they are looking for, or to browse until they do. This is why engaging and adaptive technologies which guarantee positive experiences are so important. Because there is no better time than the holidays for a shopper to stumble across the perfect item or discover a new favorite online retailer. The GroupBy Cloud provides retailers with the tools to always put that special something within the customer’s reach and guarantees a positive and profitable relationship that will keep them coming back year round. For more information on the benefits you could gain from GroupBy contact us today!