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Knowing the seasonality of demand is a big help to retail sectors to maximize their channel mix during the peak and shoulder periods. The ebb and flow of seasonality can be caused by much angst among online and digital marketers. However, sources said – having a distribution strategy in place to combat shoulder seasons while capitalizing on peak periods can help maintain healthy levels of demand.
Retail sectors should be aware of all the channels available to them and look at the local-market trends where ad agencies bring to the market. With these, the optimal channel mix and shoulder period are best practices instead of discounting rates.
Proactive steps opposed to reactive steps on seasonality strategies in driving demand.
Don’t turn off the marketing or demand channel. Leverage that channel to drive demand during peak season. Leverage lengths of stay, and keep as much demand as there is to ensure that you’re hitting your goals.
Seasonality is variable. Often fluctuating based on various events marketers should know – “the biggest thing is not keeping up and understanding the trends.”
Market trends are so dynamic. The trends used to be so steady, but given what we’ve seen in the past years, marketers can’t rely too much on history but on current trends.
Look at the market build 30, 60, and 90 days out. The key takeaway from marketing is to invest in business intelligence with forward-looking data. It allows marketing managers to look at seasonality trends in the market.
Looking at the broader picture outside of shoulder and peak periods. “If our horizon is so short that we’re making decisions for a month or a week, we’re making some kind of price decision that will inevitably hurt us and hurts market pricing over the long term,”
Make a smart long-term decision. The trick is to plan as much in advance as you can wherein the busy time where there can be a shorter time there’s no need to plan so much. In lean times, marketers should plan in advance; four to eight weeks out lean times.
There are many varied causes of both seasonality and periodicity, therefore it’s important to keep in mind that whether the market is appreciating or depreciating, other factors are usually at play – and what means the most are longer-term trends in prices, rather than short-term fluctuations.