Proof of Concept: What It is and How to Do It Right
Before developing an idea into a product, there’s a crucial step that every business must take: executing a successful proof of concept. Learn more.
According to the National Retail Federation, consumers are collectively spending a near-record $15.3 billion on gifts for Father's Day. That's an average of $133 per person, with those between the ages of 24—35 spending $188 per person.
The good news for online retailers is that over one-third of these shoppers are going to be purchasing gifts (you guessed it) online.
While the lion’s share of that $15.3 billion is for clothing ($2.2 billion), consumer electronics ($1.8 billion), home improvement supplies ($878 million), and personal care products ($862 million) are also popular. Basically, if you can put a bow on it, shoppers will spend a lot of money this Father’s Day.
What this means for smart retailers is that they can jump on Father’s Day spending to accelerate their own revenue growth before summer officially begins. Here’s how:
While consumers are spending a lot of money on gifts, they may need a little help from you to find the perfect present. That’s where a gift guide (e.g., Top 10 Gifts for Dad Under $25) comes in handy. They’re easy to create and have the potential to drive more sales.
You can segment your gift guides by interest: "Gifts for the Grillmaster" or "Gifts for the Golfing Dad" or even "High-Tech Presents for the High-Tech Dad". Share these gift guides on social media and spotlight them on your home page. You can also use them to improve your SEO, and they form a great foundation for dynamic ads.
You can even take this one step further by creating Father’s Day gift packages. Offer a discount if your visitor purchases all the items you’ve curated. For example, if you sell personal care products, you could offer 10% off on a gift package for traveling dads that includes a toiletry bag and a set of premium travel-size shaving needs, like shaving cream and post-shave gel. You can also promote your gift guides through your email marketing campaigns.
Your customers know Father’s Day is coming, but they may need a gentle reminder that they need to purchase by a certain date to have their gifts delivered on time. Leverage your email list to let your subscribers know that Father’s Day is near, and if they want free shipping, they need to order by June 8, for example.
Let them know that, by acting now, they won’t miss out on the best deals—and they’ll get their gifts for Dad in plenty of time. Use your email reminders to promote products that have sold well in the past or products you want to discount to free up inventory space.
While a lot of consumers will want to wrap up a carefully chosen item to give to Dad, some may opt for a gift card so he can choose exactly what he wants. Make it easy to find and buy gift cards on your site, and remind visitors that they’re available. Send out emails, leverage social media, or run ads based on how close Father’s Day is. For example, if it’s the night before, focus your messaging on print-at-home gift cards or other offerings for last-minute shoppers.
These are a few of the many ways Father’s Day can be a significant source of revenue for ambitious brands that leverage these types of growth opportunities. Make sure you’re ready to grab a slice of the $15.3 billion pie by helping your visitors choose the right gift, offering them an incentive, and making it easy for them to get dear old Dad a present.
Interested in identifying other seasonal marketing opportunities? Learn how to unlock growth throughout the calendar year in this webinar on seasonal strategies.
Last updated on August 16th, 2022.