Is it too early to feel that holiday vibes? Well we’re in the official holiday month hence the feeling is quite justified.
But the question you should really be pondering about is this: are my marketing strategies ready to tackle the buzz of this year’s holiday season? To better answer that question, the need to understand shopping behaviours should come first before concluding any holiday season marketing strategies. By understanding how your market shops – what they’ll likely buy, how much they’re willing to splurge, the where, when and how of their buying journey, you’ll be able to get yourself more than ready for holiday success.
Competition will be tight as expected with different marketing touch points to explore and while it can pose as a challenge, the potential reward that comes after can be satisfying.
We want to help you gear up for the most lucrative season of the year and for that reason we sourced some significant findings about holiday season 2019’s shopping behaviours and trends. Dig in, take notes and get ready to strategise:
Rejoice! This year’s anticipated spending was up few notches, which is awesome news for retailers, advertisers and businesses in general. 10% more shoppers than last year are now willing to shell out at least 500 dollars for holiday shopping spree.
Hunting for holiday gifts can be insanely challenging and what better way to avoid all the rush than looking for offers online early on, say before Thanksgiving. Ecommerce and merchants can totally take advantage of this opportunity to engage shoppers early and often.
Social media remains influential even during holiday season. Approximately 43% of shoppers under the age of 35 or what is colloquially known as Generation Z claimed that social media is somewhat influential to them when shopping for holiday gifts. Additionally, another finding showed that 6.5% of Millennial and Gen Z find social media very influential as opposed to shoppers over 35 years.
What shoppers usually shop for? It turned out that the three highest preferred categories were electronics, clothing and gift cards. Understandably, clothing is the easiest gift to shop for and is suitable to all gender and age. Electronics appeal to online buyers with entertainment largely in mind while home goods appeal to those who shop in stores. Gift cards without a doubt are the staple in holiday gift shopping and for that, they should be advertised and promoted across all marketing touchpoints.
Shoppers are becoming more socially aware when it comes to their buying decisions. According to the study, 55% of shoppers under 45 years old don’t mind paying premium for products if it goes to a good cause. Majority of those were women who are more likely to support a brand with a corporate responsibility focus. On the flip side, lower percentage of women over 45 years old follow this trend with 48.2% - a gap of 7.7% from the younger shoppers.
Brick-and-mortar stores are far from dead. Want proof? More than 40% of shoppers plan on shopping from both in-store and online. Even online stores are getting prominently popular, brick-and-mortar stores can still compete in this day of digital advancement. More than 30% of shoppers actually prefer buying from in-stores this year compared to online with 23% and last year’s 28%.
The most wonderful time of the year is quickly approaching but it is not a time to rest. Understanding shopping behaviours and trends is the key to make your holiday season marketing strategies jolly and merry.
With these findings, you can now come up cars with targeted and responsive marketing strategies to engage shoppers with their holiday needs and demands.
Need Santa Claus to make your wishes come true? Why not Elephant and we’ll make your digital dreams come true.