Father's Day is around the corner, and everyone is rushing to find the best gift for their dad! As per a National Retail Federation (NRF) report, Father's Day spendings in 2019 was estimated to have crossed the $16 million mark. Considering the current grip of the pandemic, people are more likely to spend time only with their loved ones and purchase that special gift for their father figures. Therefore, this time of the year brings retailers with physical stores the opportunity to maximise their offerings.
We are here to help retailers leverage Father's Day retail trends with five simple steps:
1.Contextual Consumer Trends
In the contextual world of retail, the first thing to do is to try and understand what your customers are thinking. Conducting a survey will help retailers get a fair idea about the kind of products shoppers are likely to purchase, their range of options, and more. Another strategic move would be to widen target audiences to include not just teenagers and young adults, but middle-aged people and even mothers who may be looking to put a smile on a face. - so, segment your audience and target them all. Today's customers don't shop for anything without a digital context. The most important thing right now is that brands need to tell a story around which social media campaigns can be leveraged. Run a unique curated digital campaign with a compelling story, and the chances of shoppers flocking your stores will be higher than before, and this digital presence will increase curiosity among shoppers.
2.Create Customised Gift Guides & Offers
NRF's research on Father's Day retail trends shows that most consumers prefer a unique Father's Day gift. Retailers have the potential to influence their decision, as 3 in 10 shoppers look for gift inspiration before they even start looking for gifts. At such a time, nothing can be more appealing than special Father's Day offers. A special customised gift card, discount offers, gift guides and catalogues are a great way to increase products’ value. For example, the retail company Uniqlo implemented a successful strategy of offering a free Father's Day gift with every $50 spent in-store. This is when a robust point-of-sale solution comes with added benefits. A modular POS helps retailers track customers' previous purchases and maps out trends and insights. Hence, retailers can formulate an effective product categorisation and incentives for special days. iRetail suite of services guides retailers to offer personalised loyalty programs that resonate with their audience, perfect for Father’s Day!
3.Partner with a Local Vendor
If your business does not have any products relevant to Father's Day, consider partnering with a local brand whose products can positively align with your criteria. Partnering with local vendors or small businesses will not only help you leverage maximum sales, but it will also help gain exposure to a potential client. A good business relationship with partners can go a long way for your brand! Local shops and homegrown businesses like gyms, fitness clubs, restaurants and apparel stores are businesses that can be tied up with for Father's Day. Together, retailers can host an interactive event or limited promotional activities to attract more shoppers to their stores.
4. Proper Display of Father's Day Specific Products
The correct display is vital to make a good first impression on shoppers. Once a shopper enters your store, seeing Father's Day products may pique their interest. In addition, selling appropriate apparel, gadgets, menswear, personal items, office stocks, etc. can help increase the sales of slow-moving products, while increasing more purchase orders.
5. Provide Value with Additional Services
There will always be last-minute shoppers, and for them, nothing comes handier than gift-wrapping services and special discounts. Offering special packaging, wrapping limited offers are additional value-added services that retailers can provide for a better customer experience. Thinking outside the box and reaching out to your customers personally can also help retailers drive more foot traffic. Sending E-mails to your loyal and repeat customers and sharing Father’s Day-centric content via SMS will give you an added advantage, as compared to many retailers.
Be On Top of the Latest Trends
This is the best time for retailers to create unique customer experiences to indulge their shoppers better, and thus increase their footfall. Furthermore, investing in a POS that stores customer data and helps devise comprehensive loyalty programmes has become crucial for retailers.
Book a demo now for iRetail’s suite of services and make the best out of Father's Day’s retail promotional ideas.