The predicament is double-sided. Merchants count on the holiday revenue to close the year. At the same time, consumers are trying to spread Christmas cheer and fulfill the wishes of those they love. Most Decembers this is a symbiotic relationship. But 2021 is different.
Several companies that work with Wooly are mitigating the situation with an innovative approach. Since Christmas shopping is coming to a close, we want to help you make the most of the last few weeks.
This article will explain some quick strategies to help keep the season merry for all.
According to CNN Business, the number of out-of-stock items this year is far higher than during the pandemic.
In fact, 172% more products are out of stock than during August of 2020. (CNN Business)
Many of the hottest gifts this year are no longer available. But it doesn't mean that retailers can't still save the sale. You have an opportunity to redirect your customers and help them solve their frustrations.
In the absence of available products, consumers are searching for other options. When their child wants a specific hoodie, they can feel like they have no other choice than to get it. However, right now is the best time to ease your customers' pain and offer similar product suggestions.
Better yet, for companies with brand ambassadors and influencers, you need to enlist them to help. Their special connection with their audience is powerful. As a brand, you may provide alternatives to sold-out items and may even add to the sting.
But what about an ambassador? When they post about a great article they love, their networks listen. Reach out today and get your brand ambassadors to spread the word about in-stock alternatives. Equip your ambassadors with insider info, such as an exclusive product. Or the quantity you have in stock. They are on the front lines and are a trusted link.
Many of the things on our wishlists are included because we saw someone we trust and admire with the product. As the final holiday shopping push, get your advocates to act quickly and share alternative ideas to sold-out stock.
Extended Christmas Shopping
Another distinction this year is that some consumers are postponing Christmas shopping. As a result, the Christmas holiday buying period will be longer than usual.
Retailers can take advantage of an extended shopping time.
Currently, ecommerce experts advise marketers to establish a long-term nurturing plan to target the consumers delaying their purchases. Additionally, the same specialists are projecting a post-holiday surge to compensate for the existing supply chain bottlenecks.
Your post-holiday campaigns should consider this pent-up demand. You'll want to build the extending purchasing cycle into your strategy.
Customer service is so foundational to retail success that it seems trit to mention. However, during consumer frustration, retailers have a crucial role. Those who are upfront and provide exceptional service will rise to the top, even without the necessary inventory.
On the other hand, retailers play a critical role in alleviating consumer discontent. In the absence of inventory, the brands that are upfront and offer first-rate service will triumph.
Intangible advantages, such as email notifications or digital waitlists, can still benefit consumers. Ensure that you are communicating with your customers. This is a quick and easy method for merchants to evaluate demand and keep in touch with customers following the Christmas season.
Marketers may ease customers ' pain by sending out advance notifications offering other goods when a fashionable gift is out of stock. When a trendy present is out of stock, marketers may alleviate customers' frustration by sending preemptive communications recommending alternate products.
Again, brand ambassadors are a great go-between and the ideal channel to communicate with your audience.