Thanksgiving is just around the corner, which means the holiday shopping season is upon us. Holiday shopping sprees kick off with Black Friday and Cyber Monday and continues until the final hours of Christmas. The popularity of holiday shopping has surged, and many Americans pay a pretty penny to have the quintessential holiday celebration. Let’s take a look at holiday spending and holiday marketing in the U.S.
Average Holiday Spending
With all the gifts, parties, feasts, outfits, and decorations, it seems as though people’s budgets are expanding. Take a look at these holiday expenses for the average American in 2019:
- • Total holiday retail sales increased by 4.1 percent to $730.2 billion.
- • The average consumer spent $1,048 on holiday-related purchases.
- • Men typically spent more on holiday shopping than women.
- • Online shopping and other non-store sales reached $167.8 billion.
- • 74 percent of shoppers say social media ads influenced them to buy a product.
With that being said, it’s no secret that the holiday season is huge for the retail industry. If your business is in the realm of retail, now is the time to prepare your holiday marketing campaigns. It’s better to plan early because you know you’ll be fighting your competitors for consumer attention.
How to Prepare for Holiday Marketing Campaigns
- • Creativity is key: As we mentioned before, you’ll be fighting for consumer attention, which means you need to be creative to stand out from the crowd. Here are some fun marketing ideas to throw into the holiday mix: complimentary gift wrapping, exclusive email specials, free gift with each order, collaborating with other businesses, hosting giveaways, offering holiday refreshments, and making a list of your best-selling gifts.
- • Timing is everything: Our biggest tip when it comes to holiday marketing is to plan early! The holiday shopping season seems to get longer and longer every year, and this is especially true with COVID-19. Most retailers expect customers to start their holiday shopping in October and will advertise and stock their stores accordingly. However, not all shoppers are planners and some are dashing for the checkout line at the last minute. Last-minute shoppers will want to know that you’re there for them, too! We recommend rolling out your advertising campaigns the weeks leading up to Black Friday and then continuing into the final days before Christmas.
- • Online shopping is preferred: In 2019, Cyber Monday became the biggest shopping holiday in U.S. history. For retailers, this means that they must take advantage of e-commerce websites. Consumers buy into the convenience of shopping online by purchasing with just a click of a button. Here are some things to consider to improve the online shopper experience: a quick loading website, easy navigation and search tools, quality photos, and customer reviews.
The Impact of Holiday Marketing Campaigns
Americans like to splurge during the holidays, and it’d be silly to not take advantage of that as a retailer! All in all, you can attract new customers, increase your sales, and make a profit. By offering them a unique experience and actively communicating with them, you will likely do all three. During the holidays, it’s easy to offer irresistible deals that people can’t turn down. Once you have them hooked, build a connection with them by producing engaging content that will keep them coming year-round.
Before you curl up next to the fireplace and watch the Christmas classics, you better solidify your holiday marketing plans. As you can see, a well-thought-out holiday campaign can result in major success for your business! It might take some planning and creativity, but it will benefit you in the long run. Stay tuned for next week’s blog where we will share specific marketing strategies for the holidays!
Need help with marketing? Call Transformation Marketing at 402-788-2896 or visit our website!