Consumers are expected to spend about 2.3% more this holiday season than they did last year, according to the National Retail Federation forecast released today. The forecast is markedly brighter than last year’s 0.4% increase and a 3.9% decline two years ago, amid a tanking economy. “What retailers are hoping to get this holiday season is some indication that we have reached a sustained economic recovery and the back-to-school numbers gave us some indication that we are heading in that direction, though in a modest way,” said NRF CEO and President Matt Shay. Pricing strategies and discounts are expected to be important tactics to get consumers shopping. Wall Street Journal
Another important tactic is product recommendations. It’s not too late to get 4-Tell product or content recommendations working on your site. Our solution is super easy to install, and because we work with sales and product data, there’s no cold-start. You can have recs working on your site in just a few days. So start reaping the rewards of increased conversion and a better shopping experience now. We’ve also seen great results in limited implementations – so if you can’t get your team to buy off on a full implementation before the busy “holidaze”, consider just putting recs on your PDP pages, in your cart, or in your gift guide.