Is Your Brand Holiday-Ready?
The holiday season will be here before you know it…there’s snow doubt about it!
All puns aside, with Halloween just wrapping up, and Black Friday and Christmas just around the corner, it’s time to be thinking about how the current economy could affect your holiday sales, and how your marketing plans will need to be adjusted to reflect this.
Here are a few points to bear in mind for this holiday season.
Consumers Want More For Their Money
More so than ever before, shoppers are looking to stretch their dollars and want to get their money’s worth.
Costs have increased for businesses too, just as they have for the everyday consumer, so as much as it might not be financially possible to offer deals like in previous years, the best way forward is to be as transparent and honest as possible.
Show your brand’s true value – if deals that feel more like steals aren’t on the cards, instead highlight what makes your brand stand out and ensure customers have the best possible experience. Make sure they get great value by offering customer service or after-sales experience that can’t be compared.
On Average, Consumers Will Be Spending Less
It won’t come as any surprise that overall, consumers will be planning on spending less than they might have in previous years.
Whilst activities such as dining out, shopping for luxuries, and everyday treats such as a Netflix subscription or coffee to-go might have come to an end for some, others are finding that they have more disposable income than before and are ready to spend it.
What does this mean for you and your business? Be prepared that sales may not come from where you expect them. It’s time to broaden your horizons and look further afield to new customers that you might not have considered before.
Also, it’s worth being aware that whereas holiday shoppers were preparing early, they’re opting to leave purchases until later in the season than before, so be sure to offer more last-minute- delivery options and don’t write off this holiday season as a failure if previous year’s figures don’t tally up by the beginning of December.
Be patient, give it time, and trust in your brand.
Online Versus In-Store: Times Are Changing
Everyone has their preferences for holiday shopping, along with a host of reasons for that decision.
Online shopping is straightforward and everything you need is at your fingertips right away, along with the opportunity to do your research before purchasing and shop around for the best price, hence the growing eCommerce industry. But on the other hand, there is nothing truly like seeing a product in-store, feeling it, and seeing if its quality matches what you were looking for (without the hassle of returns and exchanges!).
According to a recent survey by Vericast, 32% of shoppers are planning to shop more online for their gifts, whereas 22% are intending to visit in-store to tick off their lists.
Things (and times) are changing, so this means you need to stay flexible. If you’re an online-only business, now is the time to show consumers why shopping online on your website is easier. Make the whole process enjoyable and simple!
Offer discounts where possible, along with a host of delivery options. Get your brand on people’s radars with influencers, and sponsored social media posts, and encourage loyal customers to share photos of their holiday gifts. We all know there’s nothing worse than a pricey delivery option when you’re already spending a lot! And nothing that will make you opt to shop in-store instead.
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Keep Your Holiday Marketing Strategy On-Brand
The economy isn’t showing any signs of changing anytime soon, with costs going up and for the majority, disposable income decreasing, but customers are still craving that holiday spirit this time of year.
More and more businesses opted to become fully visible online following the COVID-19 pandemic, so you need to stand out.