The Thanksgiving weekend has traditionally marked the kick off to the holiday shopping season as millions of shoppers have a four day weekend, giving them the time to start shopping. Retailers woo shoppers with doorbusters, giveaways, promotions and extended hours. However, are they providing customers with the choices they expect? Shoppers are increasingly demanding more assortment. For example, instead of being happy with a few coffee makers to choose from, they are now expecting a wide range of options and pricing to be available.
Retailers did a great job this year of meeting consumer expectations by significantly increasing their assortments leading into Thanksgiving and giving shoppers they choices they want. There were a few categories that did not see an assortment increase. Some of these categories, such as laptops, have separate strong seasons. Others, such as vacuum cleaners, simply don’t make fabulous presents.
The graph below shows how retailers increased their Women’s Fragrance assortment leading into Thanksgiving.
Increases in Women’s Fragrance leading up to Black Friday.
Product assortment is only one expectation, pricing assortment is another. Retailers need to provide a wide assortment of products at an assortment of prices to meet the various needs of shoppers. The following chart of final prices shows an example of how retailers have provided a wide and fairly equal options for pricing for Women’s Fragrances.
Retailers responded to customer pricing and product assortment requirements this year by increasing their inventory and providing a wide variety of pricing options.