3 Ways to Maximize ROI this Holiday Season
With the holiday shopping season well underway, merchants are working hard to give customers a joyous, convenient, and safe holiday shopping experience. If we’ve learned anything over the last nine months, it’s that pandemic-driven shopping trends are likely here to stay: The continuing shift to eCommerce, omnichannel pickup, an earlier start to holiday shopping and more will stay with us well into next year.
With nearly half of U.S. adults saying they are more interested in shopping online for the holidays this year compared to last year, a successful 2020 holiday season relies on retailers’ abilities to adapt and optimize digital strategies. With this in mind, we’ve gathered the top ways to maximize ROI this holiday season:
Go contactless
With retailers providing their customers with mobile apps offering customized promotions, contactless payment options, and more, consumers are gravitating towards this medium for its convenience. According to the National Retail Federation, the use of contactless payments has grown by 20% since the beginning of the pandemic.
As we near the holiday season, contactless shopping will extend from payment to the entirety of the shopping experience. As the pandemic has reduced foot traffic in stores, it has introduced new ways for customers to pick up their items without having to expose themselves to prolonged contact or wait for packages to be shipped. “Click and collect” strategies have exploded in popularity – with curbside pickup options becoming increasingly popular. U.S. “click and collect” eCommerce sales are now expected to reach $58.52 billion by the end of the year.
Shift marketing dollars to online channels
While retailers have been investing more in online versus direct mail or in-store promotions for years, reduced in-store foot traffic will accelerate this shift. In past holiday seasons, retailers may have relied on in-store holiday displays, billboards, and experiential activations. This year, consumers shopping from home will expect to remain connected to their favorite retailers on the channels they’re using most, including social and mobile.
Expect more merchants to embrace programmatic ad buying strategies. With programmatic, retailers can establish the specific conditions and variables during which they want ads to be displayed, ensuring their messages are seen by the right audience at the right time.
Provide shoppers with a fairer way to pay
This holiday shopping season, more Americans are opting to buy now, pay later (BNPL), allowing them to check off their shopping list without worrying about the up-front cost or hidden fees. According to Accenture, Gen Z is most likely to spend through BNPL options, an increase of 201% since last year. Millennials and shoppers in Gen X and above increased their BNPL spending by 86% and 63% since last year, respectively.
Want to give your customers more flexibility to meet their holiday shopping needs? Click here to contact a member of our team today to integrate Afterpay into your holiday promotion strategy.
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