Smart approaches to occasion marketing
This article is part of a series of articles on smart approaches to occasion marketing. Read more.
At a glance
Black Friday, Cyber Monday and Amazon Prime Day are now hugely important e-commerce occasions for brands. Getting product availability, pricing, page content and search elements right is crucial for brands to convert e-commerce sales into year-long success.
Why it matters
Non-destination products (think toilet paper, shampoo, coffee, etc) don’t benefit from the retailers’ limelight or shoppers’ wish lists. These brands must work much harder and more creatively to stand out, be relevant and capture their fair share of traffic and sales.
- Brands playing in categories with Amazon exclusive brands should be prepared for robust competition: For 2019 Prime Day, Amazon’s own products made up 80% of the top 10 products sold over the two-day period vs. 55% in 2018.
- The formula for e-commerce growth is relatively simple: Traffic x Conversion = Sales. But fundamentally, brands must ensure they are “retail ready” (availability, price, PDP content, search) to convert the maximum sales from all traffic.
- The retail event itself may be a less relevant and financially-sustainable moment for the brand to stand out; however, the spike in traffic, visibility and sales may be leveraged by the brand later to reframe and retarget those shoppers with more relevant brand communication to drive higher conversion.