Power of Planning to Pivot

As Black Friday has transitioned to Black October, retailers have been tasked with profit at the end of another ‘unprecedented’ year.  While challenges seem daunting, preparing the business to be able to quickly pivot when problems arise should keep things merry and bright.

Our Founder + CEO, Vic Drabicky, candidly addresses the state of the season in his most recent byline for MediaPost, Digital Brands Headed For Another Messy Holiday Season.

Here are the paramount challenges brands and retailers are facing:

• A mismatch between consumer demand growth of nearly 7% and product availability spurred by supply chain woes.
• As mentioned in our Holiday 2021 Consumer Research Report, changed (and changing) consumer shopping habits and assumptions of service:  
• 60+ age contingent is the fastest-growing group of digital shoppers.
• Health and wellness is the number-one category for expected holiday spending this year.
• Consumer’s expect faster delivery, BOPIS (buy online pick up in-store) offerings and free and easy returns.
• Digital media makes up over half of the Ad Spend and costs that have sharply risen, while increased privacy challenges effectiveness. 
  
  

“It’s not hard to look at the above and immediately begin to panic sweat. But the truth is, it’s all doable. When executed correctly, this holiday season can mean full-price sales and healthier bottom lines earlier in the holiday season.” 

So, what have we learned?  

Drabicky cautions against continuing to attempt to reach your customers with the same old search and social. Elevate health and wellbeing as a primary influencer of purchases.  And above all, prepare to pivot. With multiple plans in times of uncertainty, it allows for flexibility and adaptability. 

To read the full article, click here.