The New Age of Holiday Shopping: Strategies for The Early Birds
In the era of instant gratification, it’s surprising – yet refreshing – to witness a surge of deliberate, early holiday shoppers. The landscape of holiday shopping is rapidly evolving. Forbes Insights breaks down the changing dynamics and offers strategies for businesses to navigate this new norm.
1. The Calendar Shift: Early Starts and Early Finishes
Forget December. May has emerged as a beacon for the early bird holiday shopper. Why? It’s about intentionality. These shoppers are already chalking out their budgets, rounding off lists, and delving deep into research. AI tools now promise to expand the window of opportunity beyond the well-trodden “Cyber 5” days.
Quick Insight: Shoppers are increasingly turning to platforms like YouTube to glean inspiration and information. The sudden ascent of “Shop with me” videos, which saw a 35% spike in uploads in 2022, testifies to this shift. By the time pumpkins adorn doorways in October, 50% of Americans have already embarked on their holiday shopping journey. Brands, if you’re late to the party, you might be missing out on a hefty chunk of sales.
Strategy Tip: Deploy Video Action Campaigns to captivate the early shoppers. The goal? Stir inspiration and then swiftly guide them towards a purchase – be it online or in-store.
2. The Thoughtful Shopper: Quality Time over Quick Bucks
It’s a myth that all online environments foster impulsive buying. A staggering 74% of modern shoppers meticulously plan ahead. In the influencer-driven realm of online shopping, a buyer consults an average of 10 touchpoints before making a purchase.
Quick Insight: The digital ecosystem has expanded the horizon for shoppers. A dominant 87% lean on Google’s suite of tools, 65% sift through social media platforms, and 59% scroll through top e-marketplaces to inform their buying choices.
Strategy Tip: To tap into this discerning cohort, brands can employ Performance Max campaigns. These harness Google’s AI strength across pivotal customer touchpoints – from YouTube and Search to Maps and Gmail.
3. Beyond the Tag: Selling the Brand Experience
In the maelstrom of discounts and deals, non-price differentiators emerge as the true heroes. These factors sway purchasing decisions more than one might think.
Quick Insight: Online feedback in the form of ratings, reviews, and price comparisons are becoming the modern shopper’s compass, even outpacing recommendations from loved ones. Furthermore, transparent return policies are gaining traction. In surveyed markets, 60% of consumers scrutinized return policies when exploring new brands or products.
Strategy Tip: For brands, the message is clear. Ensure your product information on platforms like Google is fresh and compelling. Integrate current promotions, swift shipping options, and nuanced features like ‘Black-owned’ or ‘LGBTQ+ owned’ to stand apart in the crowded marketplace.
In summary, the holiday shopping season is experiencing a seismic shift. By recognizing these evolving patterns and implementing timely strategies, brands can ensure they are not just part of the conversation but are leading it.
Stay ahead with YOS Insights as we continue to decode the ever-changing world of consumer behavior.