Black Friday and Cyber Monday launched us into a holiday shopping season that broke records. Bringing us the largest increase in sales since 2010, it’s clear that this year’s holiday shoppers were eager to snag new products and deals. And fortunately, these high sales have revealed an abundance of data about holiday shopping trends. Keep reading to see 5 of this year’s top holiday trends that will shape the retail sphere in 2018.
No business is immune from negative reviews. It’s just not possible to make everybody happy, no matter how great your customer service is. This means that in addition to prioritizing customer service, you need to have a good plan of action in place for when you do encounter a negative review or frustrated customer. Here are five ways you can respond effectively to customer dissatisfaction:
Between the flashy store window displays and barrage of email promos, retailers everywhere are putting forth their best efforts to raise brand awareness during holiday season. The good news is, these tactics tend to pay off with an increase in sales volumes and traffic. However, getting customers to your store- whether it’s online or in-person- is only half the battle. The next step is to create a positive shopping experience that will stick with people, and not disappear when the decorations come down. Here are 4 helpful ways to make a good impression so your customers will come back year-round.
More foot traffic, more sales, more returns. The busiest time of year for retailers is approaching, which means there’s less room for error and more need for maximum productivity and efficiency. Fortunately, the latest POS technology incorporates a variety of solutions that can take the burden off of merchants and help them stay organized. Don’t stress this holiday season; here are some ways you can utilize your POS system to manage a hectic schedule and encourage sales.
As we discussed in a previous post, gift cards are actually a quite lucrative asset to the holiday season. However, there is a drawback to gift cards, which is that they are prone to many different types of fraud. With gift card sales going up now in time for the holiday season, it’s important to understand some of the ways that they are used fraudulently. See our list below:
For retailers, Black Friday and Cyber Monday are two of the most exciting days of the year. Last year’s sales on Cyber Monday reached an incredible $3.45 billion, and we expect to see big sales this year as well. However, huge sales don’t happen by themselves- the brands that face the most success during this time of year are those that lay out an action plan in the weeks and months beforehand. See our tips below on prepping for a successful Black Friday and Cyber Monday this year.
This year’s holiday sales are estimated to surpass $1 trillion, which is pretty exciting news for retailers. Unfortunately, though, the holiday season has historically proven to be fraudsters’ favorite time of year, and this year in particular brings with it additional security threats. Read up to learn how you can ensure a successful holiday season with as little fraud as possible.
As much as we don’t want to admit it, our decision-making process is not just based on logic and facts- we actually rely on our emotions quite heavily when making decisions. Research from neuroscientists backs this up: people who have brain damage that reduces their ability to feel emotions have severe difficulties making decisions. This necessary and subconscious process of experiencing emotions when making decisions is especially true among consumers. In fact, research shows that 90% of purchasing decisions are made subconsciously.
Fortunately, this means that merchants have an incredible ability to increase sales by creating a retail experience that generates the right emotions among customers. Below are some emotions that have been proven to increase sales, and some techniques to instill these feelings in your customers.
Gift cards have steadily grown in popularity every year, and they’re expected to make up $149 billion in sales by the end of 2017. Clearly, the days when gift cards were considered a thoughtless and last-minute present are over. If your business doesn’t yet offer gift cards, you may want to consider some ways they can enhance your marketing and sales tactics:
When customers aren’t happy with a purchase, they have two options: they can choose to request a refund from the merchant, or they can file a chargeback with their card issuer. While customer dissatisfaction is not pleasant for any business owner, it’s inevitibility means that merchants should plan ahead to ensure that customers will ask for a refund rather than file a chargeback. Chargebacks frequently pile on extra fees, and in the case that you need to dispute one, it will be a time-consuming process and quite often will fall in the customer’s favor, even unfairly.
Merchants can prevent these disruptive chargebacks by having a customer-friendly return policy in place. Keep reading to learn how you can create a return policy that makes it easy for customers to reach out to you first when they’re dissatisfied with their purchase.