Cyber Monday Could Be Huge Next Week

What day will be the busiest holiday shopping day of the year in 2014?

Put a big red circle around Monday, December 1 – aka “Cyber Monday” — per online retail giant Amazon.

On this day, expect retailers to broadcast discounts and promotions in an effort to increase their share of online sales.

How should retailers be gearing up for this to maximize potential and stand out from the competition?

“The answer is simple – in contradiction to the name, retailers shouldn’t neglect their physical stores but focus on omnichanel communications to maximize sales,” suggests eConsultancy.

“Take click and collect for example – a must for online and in-store retailers over the Christmas period,” says eConsultancy. “By integrating back end systems for merchandising, and in store technologies, companies can maximize cross sells across all channels. A content management and merchandising platform can automate cross sell opportunities online, whilst iBeacon integrated with digital signage can maximize in store sales.”

Because “click and collect” data gives retailers in-depth data on customer buying behavior, stores should know exactly what customers are coming in to collect.

“By implementing in-store technologies such as iBeacon and digital signage it would allow retailers to know when someone has come into the store to collect their order, and change signage in real time to promote cross sells,” the report notes.

Of course, social media counts, too. Other things that might help: Letting customers who collect from stores after ordering online make returns to stores.

In 2013, more than 4.1 million items were ordered on Amazon on Cyber Monday, at a rate of around 47 items per second, with sales reaching their peak at 9.22 pm.

 

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