How Are Retailers Luring Hispanic Consumers to Buy on Black Friday/Cyber Monday?
In 2014 U.S. $50.9 billion were spent during the 4-day Black Friday weekend by 33 million U.S. consumers. Black Friday, Cyber Monday is the start to Holiday Shopping which in some retail sectors (e.g. jewelry, see table below) can amount to more than a third of annual sales. Portada interviewed top executives behind retailers including Sprint, Target and Dick's Sporting Goods and asked them about their plans for the Holiday Sales starting this Friday.
"We are extremely excited about our Black Friday offers which we think will resonate very well with our Hispanic audience," says Kymber Umana, Hispanic Marketing Manager at Sprint (and Portada Editorial Board member). Umana adds that the Sprint postpaid audience includes everyone shopping for great Black Friday deals. We have planned holiday campaigns for several of our clients in our portfolio, including Target and Dick’s Sporting Goods says Daisy Terrazas-Cole, Planning and Multicultural Marketing Specialist at Haworth Marketing + Media. She notes that, in general, the primary target of the marketing campaigns for her clients "tends to skew toward a multicultural millennials and millennial family audiences."
The Weight of Holiday Shopping
|Retail Segment||% of total annual sales that occur in December|
|Jewelry Stores||23.8 *|
|Apparel and Accessory Stores||13.6|
|Sporting Goods and Bicycle Shops||13.5|
Source: National Retail Institute,2014. * November sales rate for Jewelry was 9.2%
What is Changing Versus Last Year?
How do big box retailers approach the Hispanic population changing compared to last year's Holiday Season? Is the increased significance of content marketing and social media/advertising being reflected in new marketing approachues? According to Sprint's Umana, "Digital marketing has not dramatically shifted our efforts because we have actively been engaging with our customers on and offline throughout the years. I would say that digital is becoming an increasingly important part of the Black Friday weekend deals and not exclusive to Cyber Monday. Also, there has been a big shift to brands introducing their Black Friday offers much earlier into the marketplace and via various channels (TV, radio, digital) vs. just on Thanksgiving via the newspaper. We also recognize and tap into the shift of the consumer being more mobile than ever before with new devices and ability to get answers within seconds by searches."
I would say that digital is becoming an increasingly important part of the Black Friday weekend deals and not exclusive to cyber Monday.
To Haworth Media's Terrazas, "Digital marketing in general is deviating from direct to site placement to a more efficient balance between content and facilitating the shopping experience to ultimately fulfill a purchase. We see a similar trend with the Hispanic audience and do what we can to be relevant to them in all digital environments." Terrazas emphasizes that technically consumers are always online (there is truly no offline) based on consumers’ desire to constantly be connected in particular via mobile, "therefore our approach is to continue to be present and relevant where the consumer is."
Several research firms recently issues reports claiming 0that up to 50% of all retail transactions from Black Friday to Cyber Monday will be made from mobile phones and tablets this years.
Offline and Social
Sprint's Kymber Umana understands that each touch point is part of an integrated campaign: both online and offline. “We create holistic, integrated campaigns which include all consumer touch points and mediums to reach the consumer multiple times throughout the day. "Social is a natural part of our strategic focus and holistic consumer engagement plan. We ensure that our customers are up-to-date with our latest Black Friday/Cyber Monday deals through our various social media platforms during the holidays."
For Terrazas' clients, "social continues to be a prominent touch point for reaching the Hispanic audience efficiently and directly. Social will engage consumers with a spectrum of relevant messages from entertainment to deals. Ultimately, the general objective for both is to drive sales across all areas, digital as well as bricks and mortar."
The increase use of consumers of digital touch points can help fine tune marketing processes with trial and error: Says Umana: "During Black Friday/Cyber Monday, we will have more immediate feedback on our marketing’s performance, due to the digital nature of it."