Spending abounds as holiday season catches the speed. Online shoppers comb through hot deals in their towns for event tickets, gifts, knick-knacks, or delicious meals as they know daily deals are the right choice for them to buy products at below market prices. Exciting customers also line up at retail stores to grab the holiday bargains.
At least, internet retailers are ringing up the cheers of shoppers this holiday season. ComScore, a leading digital world researcher, has recorded nine billion dollars sales in first 20 days of November and forecast the figures would grow to $ 37 billion for an entire holiday season (November and December).
Will consumers continue to look for price advantage? Majority of experts are of the view that price factor will remain a main determinant of buying decision. Best deals are what actually bargain hunters are looking for desperately.
Whether they are craving for scrumptious turkeys, mouthwatering burritos, holiday traveling, contemporary cloths, or trinkets, daily deal websites and flash sales are point of focus of online buyers.
Studies have substantiated the savings prone sentiments of consumers with the help of various surveys. Some of these surveys have an expansive universe with broad sample sizes that attest to their pervasiveness.
In a nutshell, they all pointed out the ballooning numbers of shoppers seeking out discount promotions on couponing websites as well as coveted daily deals back in their email inboxes.
The deals carry up to 90 per cent discounts on a diverse range of goods and services. Such huge discounts fill in customers insatiable desires for savings.
Is this good ethically? Skeptics argue quirky discounts cajole shoppers into unnecessary shopping. Marketing driven sale is not always in favor of consumers. On the other hand, opponents bring into play buying wisdom of shoppers so that customers can make purchase what they feel urge of.
Cases of bogus discounts have been reported. However, regulators are tightening noose around the scammers. Most importantly, buyers can compare social coupons with the market prices.
Microsoft does not find it suitable for retailers to come under trance of discounts-driven bulk sale.
Excessive discounts can lead to economies of scale advantage at the cost of non-discounted brands, Joanna L. Krotz wrote in a blog titled “5 mistakes that could ruin your holiday sales”.
Close-fistedness in relation to advertising, targeting niches, ignoring replies, and overlooking last adopters were other issues that might let retailers miss opportunities popping up during the holiday season, suggested the blog.
There is a need to explain some of the points here. Considering targeting niches as a mistake, the writer advised discount promotions should be tailor-made for target market across the board.
Web analytics and dashboard make one aware of buying trends thereby allowing required changes in case of slowdown in sale. Usage records are the effective means of knowing market response to a particular offer.
There is no denying the fact that last minute shoppers come in droves and merchants risk shooing them away if deals are sold out.
A balancing approach is essential to ring up holiday sales.