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Steps to have a Merry Christmas & Happy New Year

The Holiday season is traditionally a time of joy for retailers in the West as they see dramatic increases in profit starting from Black Friday to Christmas Day. CNN Money reported that “American shoppers spent a record $5 billion in 24 hours. That marks a 16.9% increase in dollars spent online compared with Black Friday 2016, according to data from Adobe Digital Insights, which tracks 80% of online spending at America's 100 largest retail websites.” For Christmas, they expect that consumers in the U.S. will spend as well. “Statistic depicts holiday retail sales in the United States from 2000 to 2017. In 2017, holiday retail sales in the United States are forecast to amount to about 680.4 billion U.S. dollars. The holiday season can account for as much as thirty percent of a retailer's annual sales.”

Source: satista.com

It seems that brands will have a Merry Christmas in the U.S but will China see the same?

Yuletide Spirit ​ 

The reality is that “Christmas” is becoming a thing in China. The season is slowing gaining ground as more shoppers get enchanted by the lights and sound as brands lead the charge. Adobe Digital Index “estimated that China will lead the Asia Pacific region in online spending this holiday season with US$150 billion in sales forecast. The average Chinese internet user is predicted to spend a total of US$210 online during November and December, driving one-fifth of total online sales for the year.”

International brands have erected some of the most grandiose structure to lure consumer into stores and malls. However, the action seems to be taking place online as Chinese millennials are taking their cue from KOL’s or promotions via Wechat. According to China’s Skinny Chinese consumers have already bought 600,000 Christmas trees and 3 million decoration.

But what would a Great Christmas be if we did not offer you a gift to help your brand reap the benefits of this season.

Let’s look at how you can generate innovation to bring consumers back to the physical store.

Steps to generate innovation

Here is an innovation process that you can implement in your company.

The first thing you must do is set-up a goal. Based on current situation, what aspect of your business do you want to improve? It will narrow the field of possibilities.

Second, visit your stores. Yes, I know. You go there often. Do you? But this time, go there as a customer, with a customer mindset. Pick something and pay for it. Try to exchange it, ask stupid questions to the shop assistant that a customer could ask. Put yourself in the shoes of the customer, not as an executive on a routine visit.

Then look for three key aspects of the customer journey:

- Friction :

- Call for action: are their points in the journey were you the brand can prompt choices to the customer?

- Feedback: are your customers giving you information you are ignoring, is there more information you could collect from your customers?

Based on your field trip, draft some ideas for a better shopping experience. Then have a cross-function workshop to come up with ideas for new shopping experiences. Two warnings on the facilitation of this

workshop:

- Do not bring your ideas first; there may be more ideas coming out of the meeting better than yours.

- Do not let anybody start on the reasons we cannot change the current shopping experience, especially not the IT department,

Evaluate all the ideas on two axis: maximum value for your

customers and ease of implementation.

Select the one idea that scores high value for customer and low on complexity. Run a pilot in 2 or 3 shops, with real customers to see the impact on engagement and bottom line.

For more on the best practices to improve your customer experience and innovate your brand follow us by scanning the qr code

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