As the festive season is here, Chris Dessi, VP, Americas and Australia at Productsup, appeared on FOX5's Good Day New York to share his holiday shopping tips for finding the best deals on gifts.
Get Great Deals Online This Holiday Season https://t.co/LMJGng8XFM Thank you @rosannascotto @fox5ny @productsup #holidayshopping #ecommerce #cybermonday #deals
— Chris Dessi (@chrisdessi) December 4, 2020
This year more than ever, consumers are opting to shop online over in-store, and they want the lowest prices coupled with the smoothest experiences. But how are they achieving this, and what does it mean for brands and retailers?
1. Finding the best deals with Amazon Assistant
More than seven million Amazon users have its official browser extension installed. As Chris Dessi says, “It’s like having one friend with you no matter where you surf on the internet that’s always going to tell you about the best deal.”
This free browser extension tool, from Amazon itself, performs three essential tasks. First, it can alert you to deals you are following on Amazon. Second, it can show you how the Amazon price of a product compares to other sites' prices, even if you're looking in another online store. And third, you can use it to add items from other shopping sites to your Amazon Wish List in just a click.
What does this mean for you as a retailer?
Your customers get live updates on deals and easily confirm they’re getting their items for the best price. If you sell on Amazon, consider creating deals with holiday shoppers in mind. If you don’t, think about how you can compete with Amazon on areas other than price.
2. Using price comparison websites
Even shoppers who don’t have the Amazon browser extension are likely to carry out some kind of price comparison, using websites like Shopping.com, CamelCamelCamel, Keepa, or Tracker to find the best prices. Even Google Shopping has a ‘Compare prices’ feature.
Consumers are getting savvier when it comes to tracking down good deals. While some shoppers still get swept up in Amazon’s holiday sales since it’s the king of retail right now, others know to keep an eye on other retails. They may set up alerts so they get notified when an item they’re interested in is listed for a certain price.
What does this mean for you as a retailer?
If your products aren’t the cheapest option, you can add value through a customer-centric shopping experience. For example, guarantee quick delivery times, offer a free returns policy, or provide discount coupons for those who sign up to your newsletter or spend over a certain amount.
3. Shopping via social media
By the end of 2020, it is predicted nearly 11 million UK shoppers will have discovered a product on social media, an increase of 95% compared to 2017. And social channels like Pinterest, Instagram, and TikTok let users make purchases directly from the app, so they don’t have to go through the trouble of being redirected to another site.
This holiday season, your customers are likely to discover products via social posts and ads, as well as checking the social channels of brands they like to find out the best deals and easily make direct purchases.
What does this mean for you as a retailer?
It’s time to embrace social commerce, both right now and in the new year. Be sure to advertise your best deals on Twitter, Facebook, TikTok, and Instagram – and don’t forget about the power of Pinterest.
4. Avoiding shipping delays
Consumers are still afraid to head to the physical stores, Chris says. And with COVID rates still high in places, online shopping is the safest bet this year. Retail stores are closed in some countries due to restrictions, but where they're open, customers who take the proper safety precautions and go shopping in person can benefit from avoiding long shipping times.
Retailers are seeing a record high of online purchases, and the closer we get to December 25, the longer shipping delays we can expect. So customers may instead prefer to buy items online and pick them up curbside, after using Google’s Local Inventory Ads to check what’s in stock nearby. Another solution is having gift-wrapped presents sent directly to their friends and family.
What does this mean for you as a retailer?
If you’re not already, make sure you’re advertising your products using Local Inventory Ads on Google, keeping your stock availability levels up to date. Offer BOPIS to give customers the convenience and flexibility of collecting their items quicker and cheaper than you could deliver them.
The last word is customer-centric.
Above all, customers want to feel like they’re winning. It’s retailers who adopt a customer-centric approach to their product experience management, feeds and shopping experience will come out on top. Shoppers, Chris says, are keen to create a wonderful festive season for their families after a very different year for everyone. It’s time for retailers to rise to the challenge of delivering this.
Download the Future of Retail report from Raconteur for more holiday shopping insights, as well as predictions for 2021, tips for multichannel commerce, and advice for how to succeed in a post-COVID world.