5 Rules For Retailers Preparing For Black Friday: …
5 Rules For Retailers Preparing For Black Friday:
Deal hunters may flock to discounters, but few ever become brand loyal. New customers may make up close to 90% of holiday shoppers, but less than 9% will return in the subsequent 45 days.
Loyal customers loathe long lines caused by holiday crowds so offer pre-holiday teaser promotions to this segment. Loyal customers as a percentage of overall shoppers decreased by 12.0% and 20.5%, during Columbus and Labor Day, respectively. Those that did shop during these holidays preferred off-peak hours of 10AM-11AM or 7PM-8PM.
Holidays re-energize dormant customers who return at rates similar to that of loyal customers after shopping during a holiday. Marketers would be wise to launch targeted campaigns to extend the lifecycle of these high value customers.
Holidays have outsized impact on suburban mall shoppers. During Labor Day malls experienced 231.5% increase in store visits compared to only 111.2% for urban retailers.
POS data only tells part of the story. To calculate the ROI of holiday campaigns, retailers need to leverage Nomi to calculate how campaigns lift loyalty and retention rates.