In a shopping environment still impacted by the COVID-19 pandemic, Lamps Plus expects to experience record fourth quarter sales and will promote to capture market share.
Angela Hsu, the company’s svp/marketing and e-commerce, pointed out that, with more Americans at home than ever, household-related projects and purchases remain top of mind.
Lamps Plus doesn’t expect to see the same increase in sales at its physical stores on Black Friday as might be expected with the overall revenue gains anticipated because of those consumers who still are hesitant to shop in physical locations. Instead, many customers are likely to shop online and continue looking for deals on Cyber Monday. However, given the shift to online shopping, whether there will be the typical spike in sales on Cyber Monday is uncertain, Hsu noted.
Lamps Plus is ramping up inventory and staff, with warehouse and customer service hiring, Hsu indicated, to prepare for demand increases during the holiday shopping season. It is encouraging customers to shop early, certainly before mid-December, to make sure that their shipments arrive on time during a holiday when shippers will be stressed dealing with heavy order volume.
Hsu noted that Lamps Plus marketing plans for the 2020 holiday season include pushing marketing acquisition to capture market share amid increased demand; testing more top-funnel channels such as CTV and YouTube while continuing to double down on performance marketing and remarketing; and continue monitoring creative, messaging and social media tactics closely to make sure they are aligned with consumer sentiment and product preference.