Small Business Saturday Brings Opportunity for Retailers, Grocers and Restaurants
LIVONIA, Mich., Nov. 8, 2018: Valassis, a leader in activating consumers through intelligent media delivery, today shares tips for small businesses – including retailers, grocers and restaurants – on how to win this holiday season.
With the National Retail Federation predicting holiday sales will grow between 4.3 to 4.8 percent this year – hitting as much as $720 billion – the competition will be fierce among all businesses, big or small. The good news for small businesses is that according to the 2K18 Valassis Coupon Intelligence Report, 55 percent of consumers try to shop at local, neighborhood stores for their grocery items. In addition, the 2018 Valassis Tempting the Dynamic Restaurant Customer shows that half of consumers prefer to visit local restaurants versus national chains.
“Our research shows there is a wealth of opportunity for small businesses, especially leading up to Small Business Saturday (Nov. 24) and the holidays,” said Steve Hauber, President, Valassis Local Solutions. “With the right approach, local businesses can target consumers where and when they shop to capture a larger portion of holiday spend, and even foster loyalty to keep shoppers coming back all year.”
Small businesses should keep the following key strategies in mind to fuel success this holiday season:
- Offer and promote deals. A recent Valassis Purse String survey found that 72 percent of value-seekers would shop at small businesses more often if they offered coupons. Additionally, RetailMeNot reports that 87 percent of consumers search for a deal when shopping for holiday gifts. Don’t miss out on this opportunity to draw in-store foot traffic or online sales.
- Establish an omnichannel presence. Consumers expect to find deals wherever they look, including their inbox, mailbox and social media feed. Having a mix of promotions will increase chances of reaching and activating shoppers, especially considering that 44 percent of consumers say a print ad encourages them to make a purchase online, and 30 percent need to see a retailer’s ad in print and online several times to remember the message.
- Target new customers. The Valassis “Building Loyalty With Dynamic Shoppers” research revealed that almost half of consumers (47 percent) say receiving an offer will drive them to visit a website or store they wouldn’t typically shop. Furthermore, 46 percent of parents say they typically shop at new retailers during key shopping seasons (vs. 27 percent of all consumers). Targeting new shoppers – especially parents – gives small businesses an opening to make a lasting impression.
- Drive loyalty for repeat shoppers. While attracting new shoppers is important, loyalty also plays an important role in success. In fact, Valassis’ “Building Loyalty With Dynamic Shoppers” research also shows that 47 percent of millennials (and 57 percent of millennial parents) have one preferred retailer for each purchase category. Small businesses can drive loyalty by rewarding shoppers with personalized discounts and special offers, as well as interacting with them in their preferred channel of communication.
- Create a unique experience. The 2K18 Valassis Coupon Intelligence Report also found that 36 percent of consumers shop at stores that provide a unique or special experience for their grocery items. This increases to 66 percent for millennials parents; 56 percent for parents; and 55 percent for millennials.
Valassis helps thousands of local and national brands tap the potential of industry-leading data through intelligent media delivery – understanding, engaging and inspiring millions of consumers to action with smarter cross-channel campaigns. We’ve been a part of consumers’ lives for decades, introducing new ways to deliver offers and messages that activate them — whether via mail, digital, in-store or the newspaper. NCH Marketing Services, Inc. and Clipper Magazine are Valassis subsidiaries, and RetailMeNot Everyday™ is its consumer brand. Its signature Have You Seen Me?® program delivers hope to missing children and their families. Valassis and RetailMeNot are wholly owned subsidiaries of Harland Clarke Holdings.