The Millennial generation has been a marketing and media fascination for years. Many pundits have pointed to some fundamental behavioral differences between this generation and Gen Xers, Baby Boomers, etc. Once considered the young disruptors, those at the higher end of the spectrum are actually now in their mid-30’s, becoming parents, and affecting the retail model in new ways.
I have been involved in affiliate and partner marketing for the last 10 years, where I have been responsible for various advertisers, and have worked hard to help my clients succeed.
Through these years of experience, I have learned two key things brands need to do in order for their partner marketing activities to produce results. I'm going to share these with you by talking about a Japanese deparment store and their success story.
The grocery landscape in Australia is becoming increasingly competitive. With Aldi now holding an 8.9% market share and IGA not far behind, grocery market leaders Woolworths and Coles need to think outside the box to retain customers.
The worst kept secret in Australian commerce is now official: retail juggernaut Amazon is coming to our shores, bringing some seismic changes to the market along with it.
To give some perspective on how big Amazon actually is, it’s important to understand the sheer scale of its global operation:
The way we buy has most certainly changed. We’ve seen large brick and mortar stores such as Dick Smith move to online only. We’re all waiting in anticipation for Amazon to enter the Australian market this year. In a market where you can now order something online and have it arrive on the same day, the Australian retail industry is focusing more than ever on the end-to-end customer experience.
While online and mobile sales are on the rise - especially for Black Friday and Cyber Monday - a large percentage of retail sales are still transacted in store. However, a true omni-channel strategy shouldn't be about online vs. offline. Instead, to create seamless shipping experiences and capture a true 360 degree view of each customer, retailers should look at how marketing and data management efforts across all channels affect each other and sales overall.
Even with the madness of Black Friday and Cyber Monday behind them, retailers are busier than ever gearing up for a promising holiday season. To help retailers maximize their learnings from the past week, we opened up the Performance Horizon data vault to compare Black Friday activity from 2015 and 2016. While we are using hard data, we are keeping the analysis light.
This past week has been a big one for retail with major transactions erupting on Black Friday, continuing throughout the weekend, and spiking again during Cyber Monday. As a follow up to our Black Friday analysis, we’ve taken a look at the real-time data in our data warehouse and compared conversion activity on both major dates.
Last week, Black Friday drove tremendous partner marketing activity on the Performance Horizon platform. This included almost ten million conversions occurring in 53 unique currencies (from United Arab Emirates Dirham - AED to South African Rand - ZAR) resulting in a total of over $100,000,000 in economic impact for advertisers over the course of a single day. These conversions dwarf our stats from last year, in large part because of the significant volume of traffic from our new clients in 2016.
With Black Friday rearing its head this week and Cyber Monday just around the corner, global retailers are primed and ready for action. Last year, Black Friday drove £1.1 billion online sales in one day and sales this year are estimated to surpass those figures.