In this article, we're sharing 5 ways you can make sure you have a profitable Peak. more2's Client Strategy Director, Dean Morris, shares insights into consumer behaviours and how you can use this to drive future purchases. Whilst trading currently has it challenges, there is opportunity for brands who are prepared and have a proposition attuned to your customer's needs.
Get your offer out there early
Discovery and inspiration research peaks in October, weeks before purchase intent.
Last year, 30% of Peak shopping was done by the end of October and 72% of consumers will research for peak purchases online before buying. Plus, nearly half of consumers are trying new brands and 40% are open to buying from retailers they haven’t bought from over peak.
> You should be set up and present to capitalise on this early research activity which drives future purchase behaviour.
Full funnel activity
Use upper funnel activity and channels to ensure you show up at the information seeking phase.
46% of consumers used at least 5 channels to shop during peak last year.
> Consider the content, messaging and media that is going to drive customers further down the funnel and re-target consumers who engage with your upper funnel content.
Focus On Maximising Your Email-able Audience
Now is the time to be focussed on maximising your email-able audience to re-target with email and other channels during peak.
80% of consumers under 35 say personalised recommendations are important to them. They are looking for brands that meet their high standards and manage to remain relevant.
> Push reactivation campaigns out now to re-energise this unengaged part of your database. Ensure store colleagues have the tools they need to drive up instore email capture rates.
Focus on Product
With so much more effort going into product research by consumers, you should review the information and set up of your key products for peak. 46% of under 35’s go online to read reviews before purchasing instore. With that in mind, ask yourself:
Do you understand what is influencing purchase and are you highlighting the right USPs?
Do you have the right images and/or video to support both on site and in your paid activity?
Do you have sufficient ratings and reviews on key products?
Is your returns process clear and simple?
> Focus on getting your product right now so you are set up for the beginning of October when research begins.
Plan your Black Friday
Last year there was significant growth in the amount of the Black Friday activity commencing up to 3 weeks ahead of the day itself. This pattern is expected to continue this year.
> Plan your Black Friday now, with focus on keeping the offer fresh, and that you have stock availability and fulfilment capabilities to meet increased demand.
By utilising consumer Peak trends, you can make sure you get your brand in front of them now, in their discovery stage, so that when it comes to Peak and purchasing, they’re more likely to convert.