The holiday shopping season is almost here. Get ready to be busy: according to a recent study released by the American Affluence Research Center, the nation’s wealthiest people are planning to increase their holiday spending by 4%. And if Back to School sales numbers are any indicator, the other 90% are ready to spend more at Christmastime too: forecasters are expecting a sales increase of between 2.4% – 5.7%.
Now is the time to capitalize on that increased consumer confidence. As part of your overall promotional plan, consider how you’re going to market your very best pieces. Obviously, these items aren’t for everyone. There are a range of digital marketing tools you can use to connect you directly to those customers who would be interested, including email marketing, mobile messaging apps, and social media.
Pay particular interest to Instagram; while the research on last year’s holiday sales identified Facebook and LinkedIn as the most popular social media networks for high-wealth shoppers, the popular photo sharing site is rapidly gaining ground. Enhanced advertising options and the robust Direct Messaging feature have made Instagram a very viable marketing platform for jewelry retailers at every price point.
It is a good best practice to stress the exclusive nature of your messaging with your customers. DKNY recently did this very successfully during NY’s Fashion Week, getting a big response from high end buyers who were happy to be considered part of a select group. Invitation only events, either in store or online, are also a powerful draw for this market.
Done strategically, you can begin courting the high end holiday sale slightly earlier than your overall holiday promotions – because these are high ticket items, it can take the buyer slightly longer to commit to the idea of purchasing. Initial contact pieces, designed to pique curiosity and whet the appetite, can begin to start trickling out over the next three weeks, but to make that happen, you need to do your planning now.
Need help making that happen? Drop us a line. We’re here to help you make this holiday season even better than the experts expected!