In this marketing landscape, retailers must create a sense of urgency and value. Here are three key ways to tackle this challenge:
Change the Marketing Mix
Retailers have proven to be innovative marketers in a variety of mediums including traditional TV efforts and online ad programs. Making online a bigger part of the marketing strategy is critical. It’s where parents (particularly moms) control household budgets, live and shop. In fact, a recent study of American moms from About.com indicates that online ads drive buying behavior among moms and nearly 40 percent who interact with these ads purchase the related products. Emerging e-commerce opportunities make online an even more compelling channel for retail marketers to reach targeted audiences. BIGResearch and Shop.org reported that online buyers are expected to spend 40 percent more than offline buyers this year. Retailers can win by focusing their ad dollars where the buying power is — online.