Cyber Monday Fierce Competition Amongst Retailers for Your Dollars

Article written by: Angela L. Serrette
Posted on: November 30, 2009

Well it’s that time of year again.

Retailers are in strong competition against each other, trying to win the purchasing power of the consumers.   Giant retailers are spending millions of dollars on store ads, TV commercials, direct marketing, Internet ads, Pre-Black Friday listings and planning Cyber Monday specials: all with an eye on your wallet and their profit margin.

Retailers big and small are well aware that the consumer has become “price conscious” and “quality driven”due to the current economic conditions.   Web browsers spend time searching the Internet for the best bargains and the best coupons; both for in store and online purchases.

Retailers spend time analyzing their competition to find the best way to beat the competition and win the prize; the consumer’s purchasing power.

Let’s not forget the online retailer.  Many of the stores mentioned above have online shops which target the “at home consumer”.  Rocawear, Sean John, Dereon and Akademiks all offer sales and promotional discounts on their websites.

But retailers both store and online know it’s a tough market and competition is getting fiercer each day.  With fiscal reports due shortly all merchandisers, sales staff, CEO’s, CFO’s, advertising companies, website designers to name a few know the importance of brainstorming and collaboration to come up with the best way to win sales and loyal consumers.  It’s not enough to see sales spike on One Day Sales, selling has to be a constant-a tough goal in today’s economy.

So how do retailers compete against each other?  By studying demographics, year to date sales, selling history of products, improving product life cycle,  using consumer surveys, adjusting prices to beat match or beat the competition, using the direct marketing approach, use of radio ads, and TV commercials, studying the competition’s merchandising techniques, pricing approach, selling skills, product brand building and more.  Retail competitors all have the same goal in mind;  your dollars and increased sales.

Friday and Cyber Monday  are events used heavily by retailer.  Pre-advertising online is planned months in advance and sales during these 2 days are heavily relied on.   However retailers know that the biggest selling day is the Monday before Christmas, however Black Friday and Cyber Monday kick off the holiday selling season and get consumers in the “mood for shopping”-and hopefully help retailers stay in the black at the end of the selling season.

Just think, how many 1 day in store passes have you received?  How many e-mail alerts have you received for special promotions?  What about promotional codes on the back of the catalogues?  How about unadvertised specials in department stores?  Seeing constant TV commercials like those from Macy’s and Target and the Gap.   How about free coupons online that Internet savvy shoppers are familiar with?  And lets not forget those rebate sales.

Retailers are watching each other with the goal of winning your dollars.  If they win it’s a win for all.  But only if the consumer receives the very best bargain for a product with a long life cycle and unbeatable quality.
May the best retailer win.