Marketers in South East Asia banking on festive shopping season to revive sluggish sales
Marketers in South East Asia are looking to the upcoming Christmas shopping season to help with sluggish sales in 2021 because of the Covid-19 pandemic. They are also concerned with inflation and worry it will impact consumer spending.
This is according to a survey by Sitecore with more than 400 consumer marketers in retail and consumer packaged goods, manufacturing, media and entertainment and technology B2B and B2C.
69% of marketers reported a decline in sales so far this year
“We are seeing many consumer marketers increasingly relying on digital initiatives to capture the needed increase in sales this Christmas shopping season,” said Steve Hawkes, the chief operating officer for Sitecore in the Asia Pacific and Japan.
“We know there are rising concerns about the health status of communities across South East Asia. Retailers and other consumer companies will need to be nimble and act swiftly in the face of a volatile economic landscape.”
What did the survey find?
69% of marketers reported a decline in sales so far this year.
Nearly 40% of marketers said festive season sales represent the bulk of annual sales – this is particularly true for businesses with less than 500 employees.
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96% of marketers are concerned about the impact of inflation on the Christmas shopping season.
97% are concerned that changing local health conditions could result in the need for fast marketing pivots. Despite the uncertainty, marketers feel better prepared than in 2020 to deal with product availability, balancing online and offline demand, and their customer profiling and personalization programs.
As the 2020 festive season saw significant supply chain challenges, many companies could not meet the demand for products. This year marketers have started their promotional campaigns earlier, added more suppliers and ordered more stock.
Most marketers expect digital brands will win the holiday season and are planning to offer in-person and online experiences, including virtual giveaways, wish lists and special festive experiences.
The offerings most likely to be delivered in digital form are gifts or product samples attached to online orders, personal shopping services and a festive season wishlist to share with loved ones.