| [September 22, 2014] |
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Blueocean Market Intelligence Predicts Top Digital, Social Media Trends Driving Holiday Sales for Online Retailers
SEATTLE --(Business Wire)--
Global analytics and insights firm Blueocean
Market Intelligence released its predictions today for the top
digital and social media trends that online retailers will utilize to
drive sales this holiday shopping season.
Last year, retailers largely surpassed sales goals despite a relatively
short shopping season, poor weather conditions and weak consumer
confidence. According to the National Retail Federation (NRF), total
online holiday sales grew by 9.3 percent - amounting to $95.7 billion -
due to proactive social media campaigns, deeply discounted deals, free
shipping and last-minute rushes.
This year, retailers will be challenged by the vast number of strategic
choices and digital tactics, says Anees Merchant, senior vice president
- digital, for Blueocean Market Intelligence. "Considering the number of
social platforms that have mushroomed in recent years, retailers can't
just hop on Facebook (News - Alert) with a 'me too' strategy. They have to make
informed decisions about which networks to invest their resources in to
achieve the greatest impact. Social media is no longer about following
the mass; it's about following and converting target audiences."
Blueocean Market Intelligence conducts an ongoing analysis of the social
media efforts of the nation's top 100 retailers (as defined by the NRF)
with its Social
Media Effectiveness Index for Retailers (SEI Retail). Based on the
analysis, Merchant predicts the top six digital and social media trends
that are expected to drive the most holiday sales:
-
Visual cotent and interactions will play an important role in
holiday campaigns. Video is among the most powerful mediums for
communicating information online. Retailers across industries will
entice their customers with high quality audio and video. Video and
image sharing will be dominant on Twitter, Facebook, Google (News - Alert)+,
Instagram, Pinterest, and of course, YouTube.
-
Social shopping becomes a reality. With the introduction of
Twitter's "buy" button and Facebook's e-commerce integration, there
will be a big push with social shopping. Many e-commerce giants are
already piloting programs - a sign that mainstream adoption isn't far
away.
-
Retailers will spend more on social- and geo-targeted campaigns.
Retailers will direct a significantly greater portion of their
marketing budgets toward social, and especially around geo-targeting
customers. Consumers can expect different offers by state and city.
-
Consumers will shop early. Customers don't want to wait or only
visit stores on select days, so they will take advantage of early
offers that retailers push in October. As a result, retailers may
eventually opt for guaranteed delivery cutoff dates closer to
mid-December, rather than waiting until Christmas Eve.
-
Mobile commerce will experience a big turnaround. Mobile visits
to e-commerce sites have boomed in recent years, and Blueocean Market
Intelligence's SEI for Retailers has confirmed major retailers are
making a great effort to push mobile apps. For example, CVS Caremark
encourages clients to refill prescriptions with an app. Kroger created
an app that generates real-time offers and coupons. Home Depot has an
app providing on-demand, real-time inventory and stock updates.
Additionally, the newly released Amazon Fire phone and iPhone (News - Alert) push
consumers to shop via mobile devices.
-
Online retailers will use free shipping and in-store pickup
incentives to drive more sales. A 2014 survey by UPS and ComScore
found 81 percent of online shoppers believe free shipping is
important. Complimentary in-store pickup, too, has been found to be an
effective promotion in recent years. Companies that actively
communicate theses incentives via social and digital platforms have
the potential to drive more sales this holiday.
"A major challenge with retailers is finding the best strategy and
tactics to convert 'big social data' into actionable insights," added
Merchant. "It's not just about collection, interpretation and analysis -
but how to convert the analysis into actionable insights and merge them
with marketing calendars. Marketers will succeed this holiday by riding
on a robust and comprehensive campaign strategy coupled with a coherent
and exhaustive content and digital strategy."
To learn more about Blueocean Market Intelligence's social intelligence
services and to download the latest SEI Retail Report, visit www.blueoceansei100.com.
About Blueocean Market Intelligence
Blueocean Market Intelligence is a global analytics and insights
provider that helps corporations realize a 360-degree view of their
customers through data integration and a multi-disciplinary approach
that enables sound, data-driven business decisions.
Blueocean Market Intelligence is part of the Cross-Tab group of
companies (Cross-Tab Marketing Services, Informate Mobile Intelligence
and Borderless Access Panels) that includes more than 700 professionals
serving the world's largest companies from offices in the United States,
United Kingdom, Singapore, Dubai and India. To learn more, visit www.blueoceanmi.com.
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