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Jan 23, 2024 | 4 minute read
written by Bryan House
A strong start to the holiday shopping season in 2023 was a welcome surprise. Online spending was up nearly 8% year over year to $38 billion between Thanksgiving Day to Cyber Monday. Pair that with the 200.4 million shoppers who went to retailers’ stores and websites during the same timeframe, and this year’s shopping season may surpass many expectations.
With that said, many retailers worry about the economic outlook for 2024, and want to keep the momentum going following the holiday season. In planning for 2024, one way to be agile and nimble is to consider custom commerce frontends as a way to creatively generate more revenue. Here are a few powerful ways to use this technology to your best advantage.
Many retailers go out of their way to engage visitors with a custom experience, taking a page from the StitchFix playbook. Brands like Prose and Care/Of engage visitors with custom questionnaires and quizzes designed to craft the perfect product for shoppers. Not only are these experiences engaging, they create a wealth of first-data for the brand to leverage for the future.
As I covered in a previous article, 2024 will be the year of consented first-party data, as many retailers look to take back ownership of their data. Taking advantage of a customer data platform (CDP) alongside a flexible frontend can help retailers serve up infinitely customizable, personalized content for their customers. The best part? Customers have raised their hands by taking part in an engaging experience in the first place.
Choose a commerce system that lets you move fast when the latest trend takes off. Whether it’s a partnership with a trending creator or a campaign created in reaction to a pop culture moment, there’s often no time to waste when it comes to acting on trends.
The good thing about composable frontend landing pages is that they don’t take long to build, and they don’t have to last forever. These experiences can be built without custom code or development involvement, and can use existing brand style guidelines. That way, marketers and merchandisers can collaborate on a campaign and have it live in hours, instead of days or weeks. That sort of timing matters in a lightning-fast attention cycle.
Many consumers are experiencing subscription fatigue, and crave a different experience with their favorite brands. One study found that 72% of millennials and Gen Z consumers who participated in product drops felt greater affinity to the brand overall. Private sales also drove brand loyalty for 63% of consumers.
Whether it’s a product that’s only available in limited quantities or timeframes, a brand collaboration, new styles or colors, or otherwise, you can serve a custom frontend to a subset of your most loyal customers. Exclusivity creates that “must have” experience for customers who may not be motivated to buy right now. Not to mention, it makes them feel like a valued part of your brand.
As you’re developing your strategy for the coming year, consider the power of composable frontends as the centerpiece for your campaigns – especially in the weeks and months after the holiday rush. This technology allows you to be more flexible and nimble with both your marketing and your merchandising, and can be complemented with a CDP to create custom, data-driven experiences for your most loyal customers.
Want to rapidly launch commerce landing pages and turn-key storefronts that drive revenue and conversions through personalization? Check out CX Studio today.
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