Right now, whether you’re a manufacturer, a retailer or a consumer, one thing you can be sure of is that the future is harder to predict than ever. We have highly volatile markets, unprecedented demand shifts, supply chain challenges, intense competition and rapidly changing consumer trends that can be hard to grasp.
Despite these complications, keep in mind the following guidance to steer your strategic thinking around the 2021 end-of-year peak season:
Maximize your potential on Black Friday: Devise a multi-week promotional schedule with the right products, at the right price, each week.
Gear up for-commerce on overdrive: But do not go “online only” as a hybrid channel approach has proven to be most appealing to consumers.
Ease off the price drops: For solution-oriented products, fewer discounts are acceptable, at least in affluent markets.
Work the new product heroes: Pandemic-borne pockets of growth will remain sales drivers in 2021. IT, home appliances and the rise in smartphone demand are on top of the list.
Differentiate via new (online) shopping experiences: Innovate new promotional formats using digital tools, be it live streaming events, video conferencing or social media campaigns.
In this paper, GfK’s experts have used historical and up-to-date weekly data from our GfK Market Intelligence: Sales Tracking to understand what has happened and anticipate what we might expect next. By evaluating the past, understanding the present and closely monitoring the weeks and months to come, GfK’s essential market intelligence can help you make the best business decisions to stay ahead of the market this peak season.
With uncertainty guaranteed, be sure to base your product portfolio management and peak season planning on reliable and up-to-data and expert insight.
Discover our special Black Friday 2021 Planning Report which will help you take the right sales and category management decisions.
