The holiday shopping season is around the corner, and it’s time for Shopify retailers to gear up for another competitive holiday season. The shopping season is critical for retailers to expand their customer base, value their customers, increase sales, and focus on revenue generation.
This season consumers are spending less and saving more as suggested by New York Times in the recent survey. Also, we are very well aware of the world economy, and we will experience its impact on the holiday shopping season. So it would be wise to focus on our current customers as it is more economical than spending on new customers. In mid of the economic situation, the good news is 39% of retail consumers are considered to be loyal.
In this blog, we have come up with the top three expert predictions for this holiday season 2023. Let’s delve into the blog and tie our shoes for the upcoming holiday shopping season.
Rise in Online sale of products suggested by Predictive AI
This holiday shopping season we will observe that buyers will get more influenced by AI-generated suggestions while preparing holiday shopping lists. Brands and retailers will have to use customer data to create personalized shopping experiences and create a strong bond with loyal customers.
Customer Retention will be Challenging
During the holiday season, there is a sudden boost in sales, so managing returns would be a challenging job. It is observed that the return experience significantly affects the buying decision and customer retention of the customer.
Even the retailer will experience an abandoned shopping cart if returns are chargeable. In a current economic crisis luring current customers with free shipping or free return would be beneficial for retailers. The retailers need to upgrade their policies and processes as per the business requirement otherwise it may lead to a drop in your business.
Focus on Social Media Marketing
The research shows that social media’s role has increased in generating revenue. It has been observed that consumers are more likely to purchase the product that they viewed in their social media feeds. So it is suggested to concentrate on social media marketing to influence your customers.
Authentic Influencer marketing is the core responsibility of the brand. On one side, if the experience of the product is positive there is a boom in the sale otherwise it may lead to a sudden drop.
The holiday season is the time when maximum customers are available on social media looking for offers or maintaining their shopping lists. So it is the right time to target customers at different touch points, luring offers and improving your loyal customer database, and boosting your business.
Sync Made Easy Tip
Salesforce is one of the platforms which provide delightful customer experience and can be a big source to build trust among your present customers. It also helps in building a new customer database and hence would play a major factor in the growth of your business.
So it is advisable to connect your Shopify store with Salesforce seamlessly with the Sync Made Easy app. This app is on Salesforce AppExchange, install now and witness the wonders.
Wrap-UP
Why this holiday shopping prediction is essential to you? To get the best out of this phase and build a successful holiday strategy to lure new customers and create strong bonds with the existing ones. Stay tuned with us for more exciting updates from the e-commerce world!
