We may have all logged online today to see the digital world full of references to ‘Black Friday’, a term originating from the USA referring to the Friday following Thanksgiving. The term has become more of an event because generally, this is when Christmas shopping and preparation begins. People in the USA continue to enjoy their holiday season as there are five weeks between Thanksgiving and Christmas. While we do not celebrate Thanksgiving in the UK, our Christmas shopping and preparations share the same trend, and today is when it will really get going. Continue reading
This month Experian released a new report entitled ‘Engaging online with the Empowered Consumer’ which looks at how effectively businesses are using their website and e-channels to market to their customers.
Essentially the report found that many retailer and e-commerce businesses are not doing everything they could to nurture and grow their customerbase.
Using the home shopping sector as an example, Experian’s analysis reveals the harsh reality of customer engagement:
- 45% of customers are single purchasers, with figures rising as high as 75% in some cases.
- 60-70% of ‘best’ customers have not purchased in the last 12 months, signifying that companies are taking one or two seasons to recognise that high value customers have lapsed.
- 30% of customers generate nearly 70% of revenues.
The moral of all this, is to make sure your valuable existing and previous customers don’t forget about you! How can this be achieved? Well, if you’ve built up a database of customers’ email addresses who have either opted in to receive information from yourself, or indeed previously used your services or bought from your e-commerce store, you can gently remind them of your wonderful products and services through well placed e-newsletters.
The way to keep your subscribers paying attention to your unashamed marketing is to offer incentives along with the pushing of products. Promo codes on e-newsletters for certain products shows the receiver it’s worth keeping on the mailing list.As an perhaps coming up to Mother’s Day, your e-newsletter could suggest suitable gifts for the number one woman in your life.
Apparently, today is set to be the busiest day of the entire year for shopping online!
An estimated £320million is going to pour out of the nation’s pockets today alone, typically people hoping to receive Aunt Hilda’s crochet patterns book before the big day.
Online retailer play.com is predicting a 25% rise in sales compared to the same time last year. Good news for e-commerce retailers in these uncertain times!
Reports also suggest that more people will be doing their Christmas shopping at their desks whilst still at work; now that’s what i call multitasking. Just be careful not to add that to your work timesheet.
Bucking the trend of the recent doom and gloom figures for consumer spending, it has been reported yesterday in the national press that online spending has actually increased since last year – up 16.6% in fact from last year’s figures.
Compare that to the same period on the high street, where spending was reduced by 0.1% – the worst for three years.
As the credit crunch really starts to bite people’s wallets, more and more people are looking for their products online through e-commerce stores, where it’s often easier to price compare across multiple websites with online tools such as Kelkoo. Traipsing around the shops in town for equivalant deals can often prove too much of an effort in comparison.
In hard times like these, it’s good to know that there are businesses out there making a success, and prospering through their e-commerce websites!