Leveraging Shifts in Consumer Spending During the Holiday Season
Summary
Since holiday sales tend to offer the best prices of the season, consumers are willing to increase their spending to get what researchers call “Smart Shopper Feelings.” These emotions make ordinary purchases feel like an accomplishment, driving us to strike while the iron is hot. Since holiday deals are only available for a short time each year, many consumers feel pressured to buy while they still can – even if they didn’t necessarily plan their purchase out. Shoppers Expect Shortages – But They Want Options While COVID-19 has created numerous challenges for retailers, supply chain and logistical disruptions have been especially difficult obstacles. Effectively overcoming this problem requires implementing creative strategies that generate opportunities from a situation usually characterized by inconvenience. Pages viewed, time on site, and past purchases can help the AI provide enticing options that will pave the way for conversion.
