‘Tis the season for retailers to prepare holiday marketing strategies that will reach shoppers when and where it matters most.
But retailers aren’t the only ones with shopping strategies—consumers have them, too. In fact, 13% of consumers look for deals throughout the year to buy holiday gifts and 87% of consumers search for deals when shopping for holiday gifts.
According to data from RetailMeNot’s 2018 Holiday Insights Guide, deals will drive more sales during the 2018 Holiday Season. Here are some key trends to take into consideration:
- 95% of retailers agree deals and discounts are more effective at driving purchases during the holidays than other times of the year
- The top 3 places shoppers are searching for deals and steals are 1) Retailer websites and apps, 2) Savings websites and apps, and 3) Search engines
- 74% of retailers will begin their marketing efforts earlier this year to capture consumer attention
- 71% of consumers say price is the biggest factor when determining the gifts they purchase
- 58% of retailers report that deals and discounts are more effective at reaching shoppers during this season than traditional marketing messaging
- 61% of consumers say they will not complete an online purchase during the holiday season unless they get free shipping
- 71% of retailers plan to offer deeper discounts during the 2018 holiday season vs 2017
- The top 3 reasons consumers are likely to spend more with a retailer this season are, 1) 67% said the retailer had the lowest price on the gift they need to purchase, 2) 64% said the retailer provides free shipping, 3) 51% said the retailer provides the best sales and discounts throughout the Holiday Season
RetailMeNot notes that retailer messaging for Black Friday will kick off as early as November 1st, with an increase in consumer traffic picking up on that day and continuing throughout the rest of the holiday shopping season.
For some businesses, the holiday season can represent up to 29% of their annual sales, according to the National Retail Federation. But while shoppers are in the mood to buy during this festive time of the year, it’s up to retailers to make it worth their while.
That means retailers need to be ready with clear goals, thoughtful discounts, and effective marketing campaigns to make sure they can capture consumer attention and drive sales.
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Also published on Medium.