While the holidays are just around the corner, we don’t want you to miss out on crucial fourth-quarter sales because your marketing campaigns aren’t properly aligned with consumers’ shifting shopping preferences. A National Retail Federation study suggests that 20 to 40 percent of yearly sales for small and midsize retailers take place within the last two months of the year. So here we are, with some special holiday tips based on a year’s worth of insights for your business.
This year, we are going to witness a once-in-a-lifetime event of “Thanksgivukkah,” when the first day of Hanukkah will fall on Thanksgiving Day. Although there has not been any significant attempt by American retailers to address Hanukkah in past years, we think they are missing some great opportunities. Here’s why.
First, next Thanksgivukkah will fall in the year 79811. I highly doubt anyone that’s reading this will be here by that time.
Second, the Jewish American population is quite small, representing only a bit over 2% of all Americans. However, 25% of Jewish Americans say they have a household income exceeding $150,000, compared with 8% of adults in the public as a whole. So with more buying power and an extended holiday season (given the earlier than usual start of Hanukkah), it seems reasonable to try some more direct marketing and messaging.
Speaking of marketing, let’s see how social media helped last year’s holiday shopping.
- 66% of 2012 Black Friday purchases were the result of social media interaction, according to Mr. Youth, a word-of-mouth marketing firm.
- 64.8% of shoppers use social media to find the perfect gift, according to Crowdtap, and 67% of them end up purchasing a gift they saw on social media.
- 67.2 % people said they share digital coupons and holiday contests giveaways.
Now let’s see how emerging mobile apps, email marketing and campaigns helped retailers.
- 75% of consumers own tablets or smartphones and 19% make purchases on those devices. The PC is still the preferred purchase tool for 76% of mobile device owners.
- 42% of consumers prefer to interact with brands on social channels between 6 and 10 p.m., so if you have any campaigns to conduct this year, we recommend to do it during this peak time period.
- 41% of mobile device owners have made a purchase as a result of an email promotion viewed on their device.
Here’s the study that shows Consumer Spending Habits are increasing compared to the last year. And NRF expects sales in the month of November and December to marginally increase 3.9 percent to $602.1 billion, over 2012’s actual 3.5 percent holiday season sales growth.
A recent survey on PriceGrabber suggested that 21% people said that they started saving money before June and more than 50% of consumers have already started to shop for holidays. All you need is an efficient strategy and you’re ready to rock and roll this holiday season!!