Should I launch sales promotions for this holiday season?
It always depends on the situation.
The one thing's for sure. A little research never hurt anyone.
Below are some of the stats and facts from top specialists in online marketing — Rehaan Kazmi, Eileen Ang, Marc Wayshak, Aja Frost, Lisa Ross, Abby McCain — that can enrich any internal research with relevant data and help you make an informed decision.
Scroll down to grab the holiday sales calendar for 2022.
Good to learn before prepping for sale season
What customers are looking for?
Good deals, luxury items, sustainable goods/services
“The latest shopper behavior data points to three things shoppers prioritize: good deals, luxury items, and sustainable goods and services. Shoppers expect to get a good deal, and that doesn’t just mean a low price. The unbeatable prices during a mega sale are a major draw for consumers, especially now, when they feel the pinch of global inflation.”
What makes it a good deal?
Flexible payment, cash on delivery, buy now — pay later options
“Flexible payment options, for one. Cash on delivery is an increasingly sought-after form of payment...Also popular: buy now, pay later, because it provides low-interest payment options for those without a bank account…Another priority for shoppers: speed and convenience, such as same-day delivery.”
When do customers start hunting for offers?
4 weeks before the sales start
“Our mega sales data shows that shoppers start their search as early as four weeks before a double-digit event day. And in the one to two weeks leading up to a mega sale day, people often compare products before making their purchase on the sale day itself. To help them make their final purchase decision, people turn to Search and YouTube to compare and evaluate products.”
Where do customers prefer to shop?
Online, and offline stores, social media
“When it comes to mega sale days, people don’t just shop on one platform. Their top three shopping platforms are e-commerce websites or apps, official brand sites, and physical stores, and they shop across various platforms because each has its own appeal.”
What aspects of customer shopping experience should you pay special attention to?
Omnichannel remains with us
“76% of customers prefer different channels depending on context.”
Transparency is trust
“86% of consumers want more transparency over how their personal information is used.”
No to product pitching, yes to problem solving
“66% of business buyers expect sales reps to develop solutions rather than pitch products.”
Flexible shipping/payment options
“83% of customers expect flexible shipping/order fulfillment options.”
Some general facts and stats
Times got tougher
“61% of salespeople consider selling harder or much harder than just five years ago. 54% of respondents thought it was harder or much harder to get in front of prospects today than it was 5 years ago.”
LinkedIn is the place for new prospects
“63% of sales professionals who use social media to find new prospects say LinkedIn is one of the most effective platforms.”
Power is in follow-ups
“60% of customers say no four times before saying yes whereas 48% of salespeople never even make a single follow up attempt. 80% of sales require 5 follow-up calls.”
Make customers feel valued
“81% of customers say a positive customer service experience increases the likelihood they’ll make another purchase.”
Build warm relationships with customers
“65% of a company’s business comes from existing customers. 72% of customers switch to a competitor after one bad experience with a brand.”