Retailers must make data-driven decisions for holiday sales to enhance profitability, particularly by analyzing insights from the previous year's performance. This involves studying last year's Q4 data, focusing on sales trends, marketing effectiveness, and customer behavior. Key actions include assessing which products sold best, understanding traffic channels, and measuring return on advertising spend (ROAS) to identify successful campaigns. By learning from past data, retailers can better forecast inventory needs, promote effectively, and optimize marketing strategies to maximize holiday sales success.
Last year's data holds the key to a more profitable season this year.
Review daily and weekly sales reports from October through December.
Knowing the top-converting channels leads to identifying the most profitable advertising campaigns.
Return on advertising spend is the ratio of dollars invested in a specific ad to the revenue or profit it generated.
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