Monetate warning retailers not to focus on discounting during peak trading

Mike Harris, VP EMEA at Monetate

“The key to success during peak trading is to build a loyal customer base before peak season arrives. Black Friday is focussed on discount, so when every other retailer is cutting its prices to outdo the competition, retailers with a combination of good prices, a stand-out personalised experience and an existing loyal customer base are going to end up the winners. Ultimately it’s the customer experience, comprised of important elements like relevancy, brand engagement, service, support and convenience that will be the deciding factor for retailers success this Black Friday if they want to escape the downward spiral of price-based competition.”