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5 ideas to beat the Amazons of the world this holiday season

By Angela Gonzalez-Rodriguez

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Business

New York - Many retailers worldwide have brought forward their holidays deals and discounts. Starting with a quite early and comprehensive Black Friday campaign has been one of the tactics most seen this year. FashionUnited analyses how retailers are upping their game to beat the Amazons of the world.

In an interview with FashionUnited, Gil Don, CEO and Co-Founder of Spiltit, explains that competing with Amazon’s dominance during the holidays period won’t be easy.

Offering perks like discounts, free shipping and deferred payments

“Offering perks like discounts, free shipping and deferred payments may also help online retailers stand out against industry behemoths,” adds Don.

In this vein, Spiltit’s recent consumer survey found that over 50 percent of participants would be more likely to make a purchase online if offered free shipping and 50 percent of shoppers would be more likely to order an item online if they could try it out before paying for it.

“We do expect Amazon to break its sales record this year. Our recent consumer survey found that 40 percent of shoppers plan to do most of their holiday shopping through major online retailers like Amazon this holiday season,” advances Spiltit’s CEO.

"With so much revenue at stake this holiday season, retailers must find ways to stand out and attract customers who will otherwise be shopping on Amazon," said Gil Don, CEO and Co-Founder of Splitit. "They cannot afford to sit back and stick to their usual strategies during these highly competitive shopping periods. Online merchants need to offer incentives that recognise customers' unique needs, no matter the holiday, and lend them flexibility without increasing their debt."

Capitalising on small businesses uniqueness

Another Splitit's finding is that smaller neighbourhood stores were the second most popular option after Amazon, with 25 percent of consumers preferring to do their shopping locally.

Splitit's survey revealed that retailers can draw consumers to their sites and away from industry behemoths like Amazon using a variety of incentives: 50 percent of consumers would be more likely to order an item online if they could try out the item before paying for it, a major endorsement for deferred payment plans.

Additionally, nearly 46 percent of consumers said that free shipping would encourage them to spend more money.

Offering alternative payment options

Splitit also found that 67 percent of shoppers said they would be more likely to make bigger purchases, such as large electronics or furniture if they are able to pay in monthly installments.

Furthermore, 33 percent of shoppers said they are more likely to make a purchase from a specific retailer if they offer an installment payment option at checkout.

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