This blog post is part of Forrester’s Holiday 2019 retail series.
The holiday season tests to the max the effectiveness of each retailer’s demand, price, and assortment planning and its allocation of inventory to channels and regions. To ensure success:
Use data to drive recommendations. Follow the example of international brands like Nike or iconic national eCommerce retailers like Germany’s Heine. Work with vendors such as DynamicAction to make specific, data-driven recommendations that improve revenue, contribution, and customer satisfaction.
Implement easy options to offer credit at the point of sale. We can all make use of a little extra credit for our holiday shopping. Retailers can boost conversion rates and basket sizes by offering credit at the point of sale. Modern eCommerce and POS systems usually offer simple exit points or APIs for checkout financing and other services. Read about checkout credit service here.