Oh, the holidays. It’s a time for people to come together, be merry, catch up with friends and family, and most of all, (which is probably the most important part for retailers,) shop!
“During the winter holidays, retail businesses see increases in sales and revenue. The holidays, like Christmas and Hannukkah, are large gift-giving ones, which lifts people’s shopping moods. The majority of spending during this time is on items oriented toward others.” Kabbage reports.
We’ve discussed how to combat the holidays as a retailer, in order to really engage your audience and to achieve sales. As important as it is to understand how to successfully achieve your holiday goals as a retailer, it is just as necessary to know where the leading retailers stand as Black Friday approaches at the end of the month.
If you are a small, medium, or large business, Black Friday starts the shopping holiday season off. It is a time for businesses to watch the holiday initiatives pay off and see an increase of cash flow. You can learn from the leading retailers as they approach Black Friday, delivering their customers with campaigns and strategies that drive the business forward.
Kohl’s is proving to the retail industry that Black Friday can start whenever you deem necessary. This year, they will be starting Black Friday sales early this year, a full three days early, to be exact. Not only will deals be available early, their store will be opened an hour earlier than usual.
“They’re big volume days for everyone so how do we become that first stop?” Kohl’s chief merchant and customer officer Michelle Gass told Fortune in an interview at the retailer’s design center in Manhattan.” Fortune reports.
This comes after Kohl’s experienced a less than satisfying holiday quarter last year, competing with retail giants like Macy’s, Target and JC Penney. This holiday season, Kohl’s is determined to have a leg up on the competition, especially since this will be the first holiday that Kohl’s will appear alongside Amazon after the two stores partnered together in early September.
The partnership involves Kohl’s to sell Amazon products in a few of its stores, as well as to handle some of Amazon’s orders, which as you can imagine, experience a large volume of customers, especially during the holiday season.
“Ten Kohl’s locations in the Los Angeles and Chicago regions now feature an Amazon smart-home shop within the store. Those same 10 Kohl’s stores have also begun taking returns for Amazon.com.” Business Insider reports.
Will these moves save Kohl’s holiday quarter from dropping again? Only time (and Digital Diary) will tell.
Target is taking a new spin on those Black Friday hours as well. This year, Target will be giving its employees and shoppers a breather during the hours of midnight to 6 am the night of Thanksgiving, until Friday at midnight. This means that the hours will differ from last years, which were opened the whole night.
Along with different in-store hours, Target will also offer deals on Target.com the morning of Thanksgiving, which gives shoppers a giant head start while finding the best deals.
This comes as no surprise, as Target, like many other retailers, are attempting to find a happy medium that will satisfy all kinds of shoppers, both online and offline. These new hours will allow customers to shop online ahead of schedule.
There is nothing a Black Friday shopper likes more than early hours, except coupons. Target is aware of this and will be offering discounts at checkout.
“For the first time, when customers spend $50 on the day after Thanksgiving, they will receive a coupon for 20 percent off a future shopping trip.” Chicago Tribune reports.
So, there you have it. Two major retailers pulling out the stops to get shoppers in-store, online, and everywhere in-between. Will these initiatives work? There’s only one way to find out… Get your credit cards ready.
C-Level experts from across North America’s retail industry are coming together February 15-16, 2018 at The Park Hyatt Aviara in San Diego, CA to anticipate the highly complex digital environment that will develop over the next few years.
This is not just another “Retail” event. Spaces are reserved for the best in the business. Enquire about attendance here!