I am sitting here on a Friday at 4.23PM in…
There are some major gift giving holidays and events coming up in the next two months: Hanukkah, Christmas, Kwanzaa, etc. Remember when you were young and you wrote wish lists for all the gifts you wanted? Making that list usually involved cutting out pictures of the items you wanted out of magazines, newspapers, and toy magazines or manually writing down each item. Then you would send that list off and hope for the best. How does this process look like in 2015? Needless to say, very digital and very online. Wish lists are a common feature of apparel websites, but the trend has been spreading to non-apparel companies as well, such as Wal Mart and EasyJet. The latter two companies are promoting the use of wish lists and wish list apps to help customers track product shipping and create comparable travel itineraries, activities that are popular during the holiday season.
The originator of social wish lists, Pinterest, has taken a step further in creating buyable pins, which will let users buy items that they see on Pinterest.
Digital wish lists are seen as a way to not only window shop and keep track of desired items, but also as a way to entertain oneself. Many consumers make wish lists before making purchases, and thanks to their digital aspect, they can now share their lists online with others to ask for feedback or contribution. Apps like Wisher have made the list creation process even more comprehensive and social. Wisher’s users can add items to their wish lists through adding photos, scanning bar codes, and browsing online. Because digital wish lists are so open, they are easily accessible not only to the list creator’s social network, but also to marketers. Marketers want to know what’s on the consumer’s mind so that they can tailor advertising initiatives to encourage them to buy. What better way to track consumer insights than with wish lists, where marketers can see everything and anything the consumer would consider buying?
Wish lists are a great for marketers to not only know which products customers want the most, but also to keep track of buying behavior. Additionally, through creating wish, customers can keep track of pricing adjustments and to pin down what they want or need. The latter features comes in handy especially when it comes to things such as specialty items or seasonal items. Users can pin those items and buy them in proximity of a special event or when their price goes down. Think of things such as Halloween costumes, whose price goes down once the Halloween season is over. Pining those down before hand may allow users to buy cheaper customers for the following Halloween. From a marketing standpoint, I believe that businesses should emphasize the use of wish lists and wish list apps as part of their marketing strategy during the holiday season in particular. Wish lists encourage users to find things they like, “fantasize” about having them, and possibly plan to buy them in the future.
Travel site wish lists are especially enticing because trips have to be booked far in advance anyways, so having a list of places you want to travel to not only encourages budgeting but also planning the trip. Putting an item in a wish list is the same as putting an item in your cart while shopping at a grocery store. Once the item is in your cart, it’s already in your mind. If, after creating a wish list, the customer gets an email alert on an offer that’s related to it, they may be more prone to actually schedule the trip.
Digital wish lists present advantageous opportunities for both customers and marketers. Consumers can use them to track products and marketers to track consumer behavior. Additionally, because of the social nature of wish lists, consumers can use them to “grant” a wish and buy that item for the list creator. About that… I am already creating my lists to include the special edition Star Wars PS4 bundle with the Darth Vader controller, Star Wars Battlefront game, and poster; Nike running shoes; new Macbook Pro and an iPhone case…you know, just in case anyone was curious and wanted to “grant” me a wish.