Just found this yesterday, and nearly choked. Admittedly, there’s logic to back the author’s argument favoring large purchases being made online-—when money’s tight, customers get savvy about how and where they can save it.The downside? If it’s a large or expensive item that they can find online with a retailer who’s not also local, well...even I’d be tempted to save a few hundred dollars on a big ticket purchase.
The upside? In this economy, the average customer isn’t looking at a large ticket purchase, unless it’s absolutely necessary. And a lot of online retailers are going to have to dump the free freight option, in light of rising fuel costs.
What this means, is that now’s the time to start stacking the deck in your favor. If you haven’t done so already, start planning your holiday promotions today-—and that includes special events...create a custom shopping service that provides suggestions to your best customers based on what they’ve purchased in the past...come up with a bag stuffer that highlights lines you’ve ordered for 4Q delivery, hyping the fact you’re not only here, but prepared for a successful holiday season...figure out how to pump up your it-better-be-free gift wrapping service...
...and don’t panic. The upcoming holiday season is going to be about not only reasonable price points, but getting as much bang for the buck as possible. Don’t limit that bang to just the product; consider what you’re offering as a host. Your store is your home. Your customer is your guest. Make sure they enjoy the stay while looking at all the pretty things.
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