Peak trading will be hit hard this year. With ongoing industry disruption and predicted cuts to discretionary spending, the latest Metapack holiday trends report forecasts low sales over Black Friday and Christmas compared to previous years:
- More than 1/4 will cut back spending on clothing and footwear – the most of any category
- 3 in 5 consumers expect to cut back non-food spend
- US$46 billion decline on non-food spending over the holiday period compared to last year
“Consumers will reconsider familiar channels, brand loyalties will be tested, and price and value will quickly become key drivers of change” – Metapack Holiday Trends report 2022
But, all is not lost
Brands creating positive experiences and engaging with customers using the right messages and channels will have a competitive advantage during this critical period says the report.
A study by CapGemini found there are significant brand benefits to nurturing a relationship with emotionally invested customers.
According to the research “70% of emotionally engaged consumers spend up to two times or more on brands they are loyal to, compared to less than half (49%) of consumers with low emotional engagement”.
For our client Lafayette 148, clienteling and relationship building play a central role in their overall strategy. Our latest case study explores how the global brand used our retail Super-App to perform targeted, timely and personalised outreach that improved customer engagement.
“Every outreach is not necessarily about selling. We sent a ‘thank-you for your loyalty email’ which was opened at a rate of 72%! It was amazing, and it’s a touchpoint where we don’t need to sell every time, it just helps strengthen the relations.” – Jennifer Shields, Director of Retail Stores Lafayette 148
Brands need to pull out all the stops
To thrive this peak season, brands need focus on providing products, offers and communication uniquely relevant to their customers. Our retail Super-App will drive data capture enabling personalised outreach, connect customers and sales associates through live chat, facilitate specialised appointments for gift-giving, and create templates linking directly to seasonal campaigns.
The personalisation pay off
With tough times ahead, personalisation is key. Retail brands utilising technology to leverage data and better connect with customers will have a competitive edge this peak season, resulting in engaged customers and higher sales.