Jen McIsaac, VP & GM, Retail & Dining, Oracle Data Cloud, discusses the challenges facing retail marketers during the holidays and how marketers can find success using data.
Jen McIsaac: One of the major changes impacting retail marketers is the consumer shift in shopping habits during the holidays.
Black Friday used to be the biggest shopping day to kick off the whole holiday season—then along came Cyber Monday. But now, there’s this concept of “Super Saturday,” which is now the biggest shopping day of the season—mainly driven by the last full Saturday before the December 25 Christmas holiday.
So for retailers, their season has gotten so compacted over time. For example, summer and fall is Back to School, then Halloween and so on. But with online shopping, consumers can complete their shopping in a shorter span of time. This impacts everything in the planning process—from inventory buys to liquidation efforts.
What that means for retail marketers is that they have to be on-point with their campaigns. This can be challenging to get right.
Jen McIsaac: Amazon! Last year, the company had a 38 percent market share for all online sales in holiday 2016.
That’s a big deal, but what really makes that stand out, is that Best Buy is their next largest competitor, at 4 percent market share.
Combine that with price comparison shopping, and you can see why the competition is fierce for retail marketers.
Jen McIsaac: Data can absolutely help retail marketers with these issues. Understanding more about who consumers are, what’s important to them and what they’re in-market for is really the key—and data can provide that.
Retailers understand everything about their stores, both online and offline. But what happens outside their storefronts is that missing link between the consumer and their experiences with the retailer.
Building a robust profile of ideal consumers using third-party data connects retailers to the who as well as the what. When that happens, data saves retailers money.
When retailers are dealing with thinner margins and shorter time frames this holiday, data really can be the key to driving success by focusing their communications.
About Jen McIsaac
Jen oversees the Retail & Dining business unit at the Oracle Data Cloud.
Jen and her team focus on using data to create actionable plans that drive revenue and ROI for their clients. She enjoys helping retailers, their agencies and other partners solve complex challenges with best-in-class expertise and strategy, while distilling it to simplicity.
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