In a recent eMarketer article, found here, a retailer survey from Retailmenot indicates that most retailers are planning on discounting deeper and earlier this holiday season give the shopping season is apparently 6 days shorter this year than normal due to when the holidays fall on the calendar.
In my opinion, this is a terrible idea but very predictable. In fact, it’s the obvious choice because it’s perceived as less risky and conforms with industry expectations. Nobody wants to risk zigging when others are zagging, exposing a potentially rewarding strategy as a huge mistake if things don’t go to plan. We spend so much time talking about marketers getting smarter with regard to promotional marketing, embracing data and targeted offers as a way to avoid subsidizing customers unnecessarily. However, in practice, we’re still a long ways off, as indicated by the Retailmenot survey that show how most “savvy” retailers are intending to spray and pray discounts this holiday season. For any of those mavericks out there who want to double down on a smarter, AI-driven approach to targeted offers to drive the right kind of sales and customer behavior, give me a ring. I’d personally be thrilled to talk you through your options. My mobile # is 914.329.8933.