As summer draws to a close, the fall and winter holidays are right around the corner, this means it is time for online retailers to prepare their strategies for Black Friday & Cyber Monday (BFCM) campaigns. If merchants don’t start preparing their peak season strategies early, they risk losing out to the competition.
And among all the strategies, product selection is of great importance. To learn how to build winning selection strategies for the 2019 holiday shopping season, we have prepared 3 steps easy to follow.
Step 1. Get insights into consumers’ purchasing needs & motivation and cater to their likes
Set out from consumers’ perspective. Sellers need to fully understand consumers’ purchasing needs and behaviors and then cater to their likes.
Thanksgiving Day in late November, black Friday, cyber Monday, and Christmas in December should be familiar to sellers. These are days when families get together and exchange gifts. So the products with gift attribution and decorations associated with Christmas will be very popular.
So what is a gift-giving product?
Referring to Deloitte’s Research Report on American consumers from October 31 to November 4, 2018 (three weeks before Thanksgiving in 2018), consumers are planning to buy the following types of products during Thanksgiving, black Friday and cyber day.
Step 2. Referring to historical sales & growth rate to lock the right category
We can refer to the report Category squared with high growth during the 2018 peak season released by eMarkter.
Especially toys and fashion categories, on 2018 Black Friday and Cyber Monday, consumers around the world bought more than 18 million toys and 13 million fashion products on amazon. Which means 6,250 toys and 4,514 fashion items on amazon were sold every minute
Step 3. Pick out the hot items
Combined with the popular categories mentioned above and the categories with high growth rate in 2018, we will introduce the hot items of apparel, toys, home furnishing and home decoration on amazon sites of North America, Europe and Japan in the fourth quarter.
Home furnishing & decoration
Outdoor lights/Solar energy lamp
Cleaning & Collecting