As an in-the-know business owner, you probably understand the importance of starting your holiday promotions early (like now) to get the most out of the surge in shoppers. A recent consumer survey conducted by RetailMeNot and Kelton Research showed that, “54% of shoppers expect retailer holiday promotions to begin in October or earlier, and 85% expect deals before Black Friday.” And, according to a CreditCards.com survey, when customers were asked whether they’ll be starting holiday shopping earlier or later this year, “15% of consumers said they'd start earlier, compared to just 4% saying they would start later.”
When you plan early, you’re given the time it takes to deploy a strong holiday promotional strategy with all the means of success. Additionally, you’ll free yourself up to take advantage of last-minute promotional opportunities you would otherwise miss. Customers don’t always shop for everything on their list at once, and most of them will hold out for a great deal. The more time you have to run your holiday promotional campaigns, the more time your customers will have to keep your business top-of-mind.
In NRF’s 2015 February economic forecast report, they predicted a boost in sales growth for 2015 over 2014. “Retail industry sales will increase approximately 4.1% in 2015, up from 3.5% growth in 2014. That boost would be the biggest annual growth since 2011, when retail sales for the year increased 5.1%.” Additionally, NRF predicted that “non-store sales will grow between 7% and 10%.” With shoppers set to spend more year after year, the holidays are a great time to entice your customers with fun and innovative promotions. Get them into your store or digital marketplace early, and reap the benefits throughout the holiday season.
About the Author