General New Business Vendor Relationships Public Relations Job Inquiries

Why accessibility is imperative for retail this holiday season.

Retailers are making a grave mistake not taking advantage of the benefits technology can deliver this holiday season.

Technological accessibility is the X-factor in retail today. The ability to shop from home, in-store, and on any device enables customers to shop even when it’s unnecessary. For customers who just want to avoid the holiday crowds, it’s never been easier. The emergence of e-shopping and shopping holidays like Black Friday and Cyber Monday continue to change the landscape of retailing.

Forbes Magazine discovered that roughly 75% of consumers expect an integrated in-store and online experience. They also estimated a 5% increase in all retail sales this holiday season. Millennial families, on average, are projected to spend $2,000 per household this holiday season. So how can retailers profit from the holiday crowds?

Mobile Access: While in-store shopping is yet to be out-performed, the use of mobile devices contributes billions to the retail industry. Companies who integrate mobile-pay accessibility, digital receipts, and online tracking are doing themselves a favor. Half a million new users downloaded mobile apps on Black Friday, showing the growth pattern of mobile purchasing (Retail Dive). The ability to stay home and shop is enticing, especially with holiday traffic in its prime.

Self-checkout: Amazon and Target are just some of the retailers who offer self-checkout for customers. While there may still be crowded lines, giving customers the capability to come and go as they please creates consumer freedom.

Data collection: Customers love to feel important. Data collection helps retailers establish a relationship with their shoppers. Logging information gives businesses an insight into each customers preference, which opens the gate to send personalized incentives. For retailers, sending notifications can keep the company at the forefront of the customer’s mind.

Loyalty programs: Loyalty programs help consumers get return on their frequent investments. Implementing a loyalty program that can be managed via smartphone or device is the new standard. Since holiday budgets vary, the possibility for people to save money is important.

For convenience purposes, accessibility is crucial for holiday success. Online and mobile sales reached $6.2B on Black Friday alone, with an additional $3.7B in digital sales on Thanksgiving Day (Tech Crunch). Over the years, we’ve watched E-shopping grow into a massive force in the retail industry. The growth pattern suggests the numbers will only keep rising, which sounds the adaptation alarm for retailers across the world.

Sources:

https://www.retaildive.com/news/mobile-shopping-app-downloads-surged-on-black-friday/542989/

https://techcrunch.com/2018/11/23/black-friday-ecommerce/

https://www.forbes.com/sites/stevenbarr/2018/10/02/shoppers-are-ready-to-spend-this-holiday-season-and-heres-why/#286b3ab4be4e

Related Posts

May 24, 2018

Big Red Rooster lays down benchmarks for retail experience.

JLL identifies the six dimensions of retail experience.
Learn More
January 31, 2018

Fresh & healthy foods drive grocery growth.

Consumers are demanding healthier options and want easier ways to navigate their grocery journeys.
Learn More
January 08, 2018

How malls are becoming part of the neighborhood.

In the age of e-commerce, malls that deliver exceptional experiences continue to thrive. Top malls boast low vacancy rates and command significantly higher rents. For example, the 81 top tier US malls command average asking rents of $72.44 per square foot, more than 3.5 times higher than the average asking rent of the second tier of malls.
Learn More
X

Let’s start the conversation.



X

Let’s start the conversation.

Required fields*







X

Let’s start the conversation.