Thanksgiving is quickly approaching, and shopping for the holidays is already kicking off. More and more retailers are releasing Black Friday promotions, and some retailers are already launching holiday shopping specials in order to get a jump start with early shoppers.
As the 2022 holiday season approaches, the sales outlook is bright. According to Deloitte's 2019 holiday retail survey of 4,410 U.S. respondents, shoppers are expected to spend almost $1,500 this holiday season. Over three-quarters of people polled expect to spend the same amount or more than they did last year.
So, how can digital marketing help you capitalize on holiday shopping trends this year? In surveying the market landscape and taking a deeper dive into Deloitte’s 2019 holiday findings, we’ll uncover the digital marketing trends that can help your business win this holiday season.
The amount of spending online has grown every year since 2016. This year is no different. According to Deloitte, shoppers will spend an average of $879 online, representing 59% of their total holiday spending. E-commerce sales are expected to grow 14-18% over last year, and only 36% of a shopper's budget ($541) will be spent in-store. This growth is not confined to any specific age group. The popularity of online shopping has grown across all ages from Seniors to Generation Z. In addition, Cyber Monday has now eclipsed Black Friday in terms of importance to the holiday shopping season.
As consumers of all ages continue to flood online platforms, having a strong online presence is essential to your holiday marketing strategy and conducting business throughout the year. Furthermore, it is important to continue to refresh your content, update your products and promotions, and optimize your website and checkout process in order to capture these customers and increase sales.
Over half of shoppers (52%) plan to use a smartphone for holiday shopping this year, which is up from 46% in 2018. Desktop/laptop use (75%) is actually down one percent this year over last year, while tablet usage (22%) remains the same. Taking this a step further, 70% of smartphone users will use their device to make a purchase.
Retailers need to take note of these trends and understand that having a mobile-friendly website is key, Without a mobile-optimized website, you could be missing out on sales.
When it comes to understanding your customers’ journey, a key part of their shopping process is “consideration.” This is when potential customers "window shop," seek out information about their options and determine the products they want and where they will make a purchase. Many consumers are now turning to online platforms during this part of their process instead of brick and mortar retail locations.
According to Deloitte, 65% of shoppers plan to do research at online retailers and 58% on web search engines. If your website isn't showing up on page one of Google search results, now is the time to begin investing in organic search opportunities to increase your rank.
Taking this a step further, 69% of shoppers research online and complete the sale by making a purchase in store, and 57% of shoppers research in store but then make a purchase online. While potential customers are still considering their options, having a strong online presence is crucial for business. You want customers to be able to quickly and easily find the information on your site and decide to make their purchase with you.
When asked what attracts shoppers to certain retailers over others, three quarters of Deloitte survey respondents indicated they were interested in product assortment as well as price. Furthermore, 81% of shoppers said their holiday purchases would be influenced by coupons and promotional offers.
If you are a new retailer, we have good news for you. 79% of shoppers shared they are open to trying a new retailer this year, and the most influential factor in that decision is better pricing. That is why it's so important to start marketing your holiday promotions early. E-commerce shops can benefit from using all types of digital marketing efforts and channels. Websites, social media and email marketing lists are vital to spreading the word about product availability as well as any special offers or sales.
As great deals and assortment continue to increase online, convenience is one more factor that can help make your brand stand out. Almost two-thirds of holiday shoppers note that convenience is an important factor in their shopping decisions. Making the purchasing process easier for your customers can tip the scale in favor of your brand versus another.
A key part of online shopping convenience is offering free shipping. In fact, 85% of shoppers prefer free shipping over fast shipping. These shoppers are even willing to wait three to seven days for delivery if it means that there will be no shipping charges.
Almost eight out of 10 shoppers are concerned about shopping at retailers who have experienced data breaches in the past. Online retailers can ease customer fears by providing secure checkout processes as well as by being transparent about data that is collected and privacy policies.
At the same time, 61% of shoppers are willing to share personal information in return for promotions and discounts. As we shared earlier, price and promotion are two factors that influence holiday shopping online. Online retailers can attract customers by offering exclusive discounts to mailing list subscribers. These discounts can drive sales, as well as build marketing databases for 2022 and beyond.
Strong digital leaders will win this holiday season, potentially attracting sales that can account for 30% of their annual revenue. It’s not too late to establish your digital presence, and Fratzke Media can help. Reach out to Fratzke Media for a free consultation, and we can assist you in using this data to drive holiday sales, wrap up 2022 in the black, and kick off 2023 with energy and excitement.
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