New Strategy for Profitable Holiday Season
This blog is the response to Jared Freedmen’s blog: Christmas-time Retailing: How Can Retailers Navigate the Competition.
In Jared’s blog, he mentioned two recommendations for the retailers: use cost leadership strategy and focus differentiation strategy. Apparently, the price is the crucial point that the consumers might consider of in the furious competitve market, while the well using of focus differentiation strategy will certainly attract a segment of customers who have specific requirements.
I strongly agree with his opinion, but I have something to add here is that the vital rule of digital tools which customers use before they do shopping nowadays.
According to Deloitte’s annual holiday sales forecast, 84 percent of shoppers will use digital tools before and during their trip to a store to learn more about the products and stores they are interested in. Apparently, to the companies who have soaring ambitions, it is an excellent opportunity to take advantage on the technology platform.
source: www.pcmg.com
Source: blog.mobiversal.com
The digital tools don’t only imply putting all of the information online to show your customers a huge data base, but to show your specific superiority of some area. For instance, the lower price for some exclusive holiday stuff and peculiar products.
In all, with the rapid evolution of technology, more and more apps are being created and being used by customers to select their ideal stores. Hence, doing well and being ahead of others in digital tools is significant for a profitable holiday season besides lower price and focus differenticiation strategy.
Refer to: http://www.businessnewsdaily.com/7195-profitable-holiday-season.html
Cover pic: www.studymagazine.com