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Wednesday, 17th August 2011, 11:17:30
Ecommerce businesses 'should make preparations for holidays'
Ecommerce businesses looking to improve sales should make early preparations for the festive period to attract more customers, according to advice.
IDC Retail Insights has urged companies to carry out special measures in a bid to ensure they are taking advantage of increased internet traffic in the months leading up to Christmas.
As part of its Perspective: Top 10 Recommendations for the Holiday Season report, the market research firm claimed that ensuring price and promotion engines were ready for a surge in the number of customers was vital for the busy period.
In addition, retailers have been urged to improve their online retail conversion rates by introducing offers to encourage increased sales from cash-strapped individuals who may be searching for cost-effective gifts.
Leslie Hand, research director for IDC Retail Insights, said: "No doubt, retailers can expect consumers to be very discerning in their holiday shopping this year, and this may result in continued profit pressure for retailers due to excessive or sub-optimal discounting strategies."
According to the company, ecommerce businesses that are able to establish the advantages of technology will be able to set themselves apart from their struggling counterparts in the upcoming holiday season.
In addition, companies have been urged to capitalise upon opportunities presented by the use of social media, such as Facebook and Twitter, in a bid to advertise products and gain increased customer attention.
Ms Hand added: "Retailers must remember to fix what they can now and prioritise for post-holiday investment what can't be fixed, so they are not similarly disadvantaged in 2012."
Earlier this month, IDC Retail Insights revealed that customers considering taking part in loyalty schemes expect more than points and discounts in recent times, with many claiming it would take more incentives to encourage them to spend higher sums of money.
In addition, the research showed that mobile loyalty applications had emerged as a viable innovation that meets consumer demand for real-time and location-based information.
Posted by Phil Williams
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Categories: | Ecommerce |
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