[Guide] Cyber Weekend Insights & Strategies Amid COVID-19
As the most highly anticipated sales period, you may ask yourself, “What will change amid this new pandemic reality?” Brands are asking themselves questions like…
- Do we need to promote even higher discount rates?
- Will there be an even greater surge in e-commerce traffic?
Well, to help you navigate these questions (without a magic crystal ball!), we’ve pulled together the latest data, insights, and tips, so you can adapt to changing consumer needs and drive holiday revenue for your brand.
And in the spirit of giving, here’s a sneak peak of some of the expert insights you’ll discover in our Cyber Weekend guide:
3 Tips to Tackle Cyber Weekend in 2020
1. Plan For Online Experiences
You may know that in-store shopping has declined, but did you know it’s seen a 50% global dropoff among consumers since the start of the COVID-19 pandemic? Don’t expect that to change, as consumers say they’ll continue to spend online!
2. Think Beyond the 4-Day Event
Engagement for Cyber Weekend content typically starts picking up in early October. Except, with Amazon Prime Day delayed this year, it will be vital to start much earlier.
3. Promote ‘Smart’ Discounts
Smart discounts are those that are based on quantity or cart value.
Slashing prices to compete with rivals when it comes to high-end products or services won’t cut it. Consumers are 4x more likely to hold out for promotions from their favorite brands rather than look for cheaper alternatives when it comes to these items.
That’s just skimming the surface!
There’s so much more to discover — and with the winter holidays fast approaching, make sure you have the data you need to drive traffic and revenue in Q4.