As we venture our way into the start of the holiday season, all spectrums of retailers are wondering how to tackle marketing in the current economic environment that will appeal to consumers. First, be aware of today’s challenges. The past couple of years have brought their own obstacles, thanks to a global pandemic and re-learning how to be a society both inside and outside our homes. 2022 is no different with inflation and a potential recession.
Based on the findings from the director of partnerships and client solutions at Logical Position, Ryan Garrow expects retailers to experience stagnation in sales from decreasing consumer demand, margins to increase from rising advertising costs, and discounts to be pushed earlier in the season compared to what was seen from the year before to deal with left over pandemic inventory (1).
Second, reconsider and refocus your strategies. Previous years' goals may not be as relevant or achievable and should be re-examined to determine what can succeed under current circumstances (1). To be able to maximize the 2022 holiday season, premier marketing solutions company, Vericast, offered Marketing Dive the following solutions:
- Focus on deals
- Engage in continual conversation by extending engaging marketing earlier in the season
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Use Omnichannel Marketing
- This is a cross-channel content strategy that is used to improve customer experience and drive across all possible channels, both in traditional and digital marketing (3).
- Make purchasing both online and in-store seamless (2).
