Holiday spending could exceed $1.2 trillion this year, as per Deloitte.
Despite COVID-19, spending for the upcoming holiday season in the US is expected to last from October and until mid-January, as reported by CBS News. For retailers to survive this prolonged sales timeline, they must balance between spending promotional budgets too early or too late.
Investing in AI and digital marketing tech like targeted discounting could help retailers meet consumers’ need. Implementing AI-based discounting strategies could help retailers deliver consistent discounts to the right consumers throughout the holiday season.
However, retailers must be careful not to hold back discounts or coupons until later or spend their promotional budget too early during the holiday period. The article contends retailers must experiment with new personalised discounts, while leveraging e-commerce and digital technologies to boost sales this holiday season.
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