The holiday season is upon us and with it comes Black Friday, the traditional kickoff to holiday shopping. Despite fears of economic slowdowns and lingering inflation, the holiday season is expected to be a boon for retailers. According to the National Retail Federation, holiday spending is projected to be up between 3-4% over 2022. To make the most of the holiday season, marketers should be aware of the latest trends in consumer behaviour.
Nearly half of consumers (42%) will begin their holiday shopping on Black Friday or later, according to a survey by research firm Cint. There is still plenty of opportunity left for smaller local businesses to capitalise on. Shopping related videos increase on TikTok after Christmas and into January, so this is a great avenue to explore for post-holiday season sales.
Social media is a great channel for product discovery, and The Influencer Marketing Factory found that shoppers aged 18-34 are driven by limited-time offers, whereas users 35+ are incentivised by free shipping. Apparel, beauty products and home products account for 60% of all social commerce purchases.
Customers also want to know about a business’s social responsibility, so it is important to communicate this through social media. Email design is a great way to jump-start a relationship with lapsed customers, but it is important to create subject lines and preheaders that will capture their attention.
Finally, consumers are looking for both online and in-store shopping experiences, with 45% preferring online and 20% preferring in-store, and 35% having no preference. Multi-channel marketing is essential for the best possible outcomes so marketers should consider integrating traditional channels with other options in a way that caters to different consumer needs.
The holiday season is an exciting time for retailers, and with the right strategies in place, marketers can make the most of Black Friday and beyond.
Originally reported by Martech: https://martech.org/5-black-friday-trends-marketers-can-act-on-this-holiday-season/
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