Gift Cards are the wild card of Christmas retailing.
Consumers love these little plastic wonders, and for good reason. No longer do you have to receive a scarf from Aunt Priscilla for Christmas.
But for multichannel catalogers, gift cards represent significant challenges.
Many multichannel businesses record transactions from customers who redeemed gift cards. Not many multichannel businesses record transactions from the customer purchasing gift cards.
These are the transactions that are fun to pay attention to.
If you can segment gift card customers, watch their behavior during the rest of the year. In fact, purchaser and redeemer behavior can be put in the context of a robust Multichannel Forensics analysis ... you could have three channels, say online buyers, gift card buyers, and gift card redeemers.
One would analyze the repurchase habits of each group. Furthermore, one would pay close attention to the product these customers purchase. This is a topic of increasing importance for inventory managers, given that some businesses do 10% or more of their "volume" in gift cards during the final few weeks before Christmas.
Helping CEOs Understand How Customers Interact With Advertising, Products, Brands, and Channels
Subscribe to:
Post Comments (Atom)
Dollar Stores
You aren't going to read about or hear a lot about dollar stores in the retail gurusphere. So read this (click here) . The price point /...
-
It is time to find a few smart individuals in the world of e-mail analytics and data mining! And honestly, what follows is a dataset that y...
-
As is my tradition, I'm going to take a long weekend. No posts until early next week. I've been doing this for almost twenty years, ...
-
Sometimes you think "people already know this stuff". Sometimes you realize that Google Analytics give smart analysts almost no op...
Manaing inventory is key to business success esp understanding the peaks and valleys for demands.
ReplyDelete