Dan Wagner, chief executive, Powa Technologies

Think long-term
While large-scale discount days like Black Friday and Cyber Monday are naturally leading to surges in sales on the day, this is just one piece of a bigger picture. Consumer and spending patterns are changing fast; retailers can no longer operate on automatic pilot. Extending store opening hours and increasing the volume of deals for a day, or even a week, is no longer relevant in an era when mobile commerce has become the dominant channel for consumer engagement.

Mobile platforms empower consumers to be constantly plugged-in, compare prices and look for the best deals and bargains on an ongoing basis. It’s all about freedom, control and convenience, and it’s clear that the savvy consumer will not purchase in-store when they can get better deals and buy them with a tap on their smartphone during the year. Retailers need to face the reality: relying on a one-off sales day to make up for a year’s profit loss is not a promising strategy.

The sales period is also set to continue right the way through Christmas and beyond, and trying to maintain interest with continued discounts will eat heavily into the profits gained by the vital season. Come January, we may find more well-known chains buckling as we have seen over the past few years. What retailers need is to up their game and implement a long-term strategy that provides a strong, single-user experience across mobile, online and physical channels, which fits into the needs and expectations of consumers today.

Anne Giulianotti, director at GfK

Join up the experience
Days like Black Friday and Cyber Monday simply show how consumers are shopping through a mixture of channels: online, mobile and in-store. With “webrooming” (research online, buy in store) more popular than showrooming (research in-store, buy online), it’s essential for retailers to have a coherent and consistent approach across all connected devices.

Here are some observations from our research.

• The go-to device is the smartphone, where many people see retailer offers. Tasks requiring more thought, information or payment often require a larger screen. Retailers have the opportunity to use apps and mobile websites to support a joined up online shopping experience, regardless of the device.
  
• Sales of large-screen smartphones or phablets (smartphone/tablet hybrids more than five inches) grew 488% from January to October 2014. Phablets offer opportunities for online shopping to be more immersive and enriched – a good reason for retailers to improve their mobile websites.
  
• The main barrier to shopping online is cost of delivery. Around half (47%) of adults aged 22-65 said this was why they don’t buy online. Another is fulfilment: click-and-collect could be even more convenient, expanded to more locations.
  
• Customer service still matters: two-thirds (66%) of people aged 22-65 agreed with the following statement: “I expect retailers to provide support in-store even when I have bought online.”
  

Al Millen, strategy director, Critical Mass

Don’t forget about the customer experience
From the first visit to the first order, to the delivery through the door, the customer experience is paramount. Every retailer and its dog is out to get a share of the customer’s pocket over the Black Friday/Cyber Monday weekend, which means there is a huge amount of competition. But with each retailer matching prices with one another, there’s an almost level playing field out there on price, which presents an interesting challenge for retailers to entice new shoppers to their site.

The key tip for retailers on Cyber Monday is to help the customer buy more, rather than the retailer sell more. The secret formula for turning these visitors into purchasers is through offering a seamless user experience. Whether it be through smart responsive web design, instant assistance with customer questions or the use of data to offer visitors the most up-to-date and relevant offers for them – or, as it turned out on the morning of Black Friday, ensuring you can deal with the customer traffic. The key to converting browsers into buyers is giving the customer a journey that is seamless.

However, while loyalty with retailers is at an all-time low, there’s a high chance that if you offer the customer a great experience on Cyber Monday, they’ll remember you. Whether it be returning in January or for next year’s event, by ensuring the experience is enjoyable (as well as offering the product at good value), your consumers can buy more of what they want.

More like this

• Christmas commerce: expert tips for retailers
• Eight e-commerce hacks to increase your online selling power
• How to create an optimal mobile shopping experience
• Brought to you by eBay: Cyber Monday and the Christmas shopping spree

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