The Golden Quarter: Retail's Peak Season

The Golden Quarter: Retail's Peak Season

For those outside the retail industry, we have just entered one of the most busy and pivotal points of the year. With major shopping events like Black Friday, Cyber Monday, and the Christmas season, this quarter traditionally accounts for around 30% of a retailer's annual sales.?

This year, while inflationary concerns persist, the slower pace of inflation has led to a more positive consumer outlook. According to Retail Week, many shoppers are feeling less financial strain than in previous years, presenting retailers with a valuable opportunity to leverage renewed confidence and capture demand during the critical shopping season.?

In light of these developments, here are four key strategies that retailers should consider integrating into their long-term planning to ensure future success:?

1. Supply Chain Management?

Although recent supply chain disruptions have eased, many of our clients still feel the effects of the past 12 months. Retailers mitigate these by diversifying their supplier base, strengthening logistics partnerships, and adopting more agile inventory models to support their customers. In the short term, this allows retailers to respond swiftly to changes in consumer demand and ensure smooth operations throughout the next quarter.?

Farfetch does this by effectively sourcing products in different sizes and prices from different boutiques worldwide. ?

2. Resource Management?

As demand surges, effective resource management is crucial. Yodel’s recent hire of 3,000 new staff is a clear example of how businesses prepare for increased volumes. To manage this influx successfully, retailers must have robust workforce management systems and processes in place to ensure the right capacity and operational efficiency during peak periods.?

We’ve worked with businesses like UKG and Dayforce (formerly Ceridian), which have led the way in aligning forecasted demand, budget, and workforce scheduling through AI solutions.?

3. Next-Level Loyalty Programs?

Retailers are focusing more on loyalty programs to drive customer engagement and repeat business. Going beyond traditional rewards, offering personalised perks such as cashback, exclusive access or money off can significantly increase customer usage. Research shows that repeat customers spend 67% more than new ones; you’ll see retailers double downing on these offers in the next 3 months to boost both sales and long-term engagement.?

4. Digital Strategy?

With online sales accounting for 28% of total retail sales last Christmas, ensuring e-commerce platforms can handle increased traffic is vital. Over the past six to twelve months retailers will have focused on optimising their digital infrastructure and enhancing the customer journey to drive conversions. Incorporating strategies like personalisation—whether through improved UX or AI insights—can significantly improve the customer experience and lead to higher sales.?

This has filtered down from household brands like M&S, who can help you choose an outfit, to high-end perfume companies like Le Labo, which helps you pick your next fragrance with free text answers.

#GoldenQuarter #Q42024 #RetailStrategy #SupplyChain #LoyaltyPrograms #DigitalTransformation #Exevion #Consulting?

?

要查看或添加评论,请登录

Exevion的更多文章

社区洞察

其他会员也浏览了