Tips to catch the festive spirit – and not just for Christmas

● Understand a market’s traditions and consumers’ preferences. It is crucial to understand the meaning of a festival, a market’s traditions and consumers’ preferences. For example, people typically give flowers and chocolates on Valentine’s Day. “Gifts for him or her” are also at the top of the buy list. Another example is Chinese New Year, which involves the tradition of buying new clothes and shoes before the lunar new year begins. Red, yellow and purple, for example, are considered lucky colours that symbolise happiness and good fortune, and are worn on the first day of the lunar new year.

● Plan ahead and start engaging with customers early. Holiday shopping now starts earlier than ever. Last year the US$26 billion in global retail spending that would normally occur in November’s Cyber Week actually took place in October⁶.  Shoppers also started to shop in October this year instead of on Singles’ Day. Taking shipment times into consideration, people start searching for items well ahead of the busy shopping season.

● Stand out from your competitors. Shoppers love good deals, especially during the festive season. Promotions and incentives during the holidays can help keep your customers from turning to competitors. And with shoppers in a festive mood, playing to the holiday spirit with ideas like customised gift suggestions can help to create personal connections that build long-term loyalty. 

● Leverage new technology and bring fresh ideas to your customers every time. It is important to bring new kinds of offers and propositions to consumers, including product categories that weren’t available previously, or enabling various ways for consumers to get access to special offers. Another new development is the increasing use of live-streaming to raise consumer interest. It is an engaging way to demonstrate products, show their advantages and encourage sales conversions.