Oct. 12, 2022
Retailers To Compete By Increasing Promotions
After a year of repairing supply chains and staffing up warehouses, retailers are heading into the 2022 holiday season generally optimistic, but facing new challenges that include inflation-spurred consumer attitudes and marketing ROI difficulties, says a survey by CommerceNext in partnership with the Commerce Experience Collective (CommX). For this holiday season, retailers are preparing to face stiff competition head-on by turning to promotions, eMail and SMS, paid search, affiliate marketing, and a mix of shipping incentives to get consumers to shop this season. Most merchants expect this year’s holiday sales to outdo their 2019 numbers, but not necessarily those from holiday 2021, which was a record year for most, leaving many optimistic, but also cautious about profits. The report says that 32 per cent will increase the number of promotions. In contrast, the 2021 report shows that only 13 per cent of retailers increased promotions. As retailers ramp up promotional strategies, they are also focusing more on retention marketing strategies. While eMail marketing still remains the top and most reliable retention strategy, SMS continues to gain popularity with nearly two-thirds of merchants relying on their SMS programs to beef up their holiday sales.