It’s Q4 of the year 2017 which means the start of holiday shopping madness! November huge sales events are fast approaching with successive festivities catching up soon.
For marketers, it’s the busiest time of the year! With online shopping business hiking up, this is the golden time for online small retailers to reap the benefits & hit the bulls’ eye by making the best use of this advantage. 30% or more of ecommerce revenue is generated from holiday shopping, unlike non-holiday months.
Right from preparing ecommerce promotional calendar, introducing exciting promotional ways to final execution of marketing campaigns – marketers will be biting their nails as to where to begin from.
But wait. To prepare well ahead of time & cater to the shopping spree, it is important to understand the shopping trends & customer patterns, their behaviour & buying trends. Why not take a look at the top ecommerce shopping trends of 2017 & get some useful insights on how to prioritize your holiday shopping business strategy?
Here, we introduce 6 key marketing trends & consumer behaviour during the holiday season of 2017 & how brands can go about it.
- Rising consumer expectations
As per 2017 Holiday shopping report analysis, negative consumer reviews appearance rates are on the rise right from November & is expected through January amounting to 12% unlike average which is 10%. This indicates higher consumer expectations & increased competition this upcoming season.
For retailers, it’s time to pull up your socks & adjust your brand marketing strategy to improvise on brand reputation scores.
- Gen Z shoppers prefer self-gifting
With “Single’s Day (November, 11) or anti-valentine’s Day (either way, you name it) trending amongst the millennials (Gen Z), it’s not surprising that this new group of potential customers are now bigtime early shopping sprees! 2015 Holiday shopping sales figures testifies it with 14% increase record over the previous year. Regardless of relationship status or gender, young singles self-treat themselves with gifts & spend almost double of their holiday marketing budget!
Isn’t this a great marketing opportunity to grow your revenues? So marketers, are you ready to catch the early bird shoppers with singles day “treat-yourself” promotions & offers?
- Customers are driven by product discounts
72% of shoppers are likely to turn to store or brand for discount coupons if they haven’t shopped with them for over a year. Moreover, prior to shopping, 90% of shoppers research about product price.
If the price is less, shoppers are likely to buy, however, for anything more than $50, 85% of consumers will continue online research! With shoppers hunt for alternatives of budgeted offers & urge to get more out of less money, get ready to put in some extra work to sculpt out the best deals & personalized offers to grab some serious customer attention.
- Shoppers love digital wish list
More than 6 out of 10 respondents reported that they would like to shop from their online wish list in future. This means most of them are likely to research & plan their gifts much ahead, probably October or even earlier. To get into the specific wish list, marketers need to arm themselves with this data for different types of customers that highlight their expectations. This will help brands to create truly personalized shopping experiences for customers in future.
- Online research, product comparison & purchase timing
More than 50% of online customers begin their brand research for products by October or sometimes even earlier while only 33% make an actual purchase within that timeframe. So, what convinces these 33% of consumers to make a quick purchase? Think! And why the rest 17% are hesitant about making a purchase?
Well, this is where product recommendation kicks in. Customers purchase based on product recommendations from brands. Shoppers know what they are looking for, and it is up to the brands to take advantage of this data-driven research and make it to the best of their advantage to big sales days.
- No urgency=No rush for purchases
Most online buyers are ready to wait patiently for their online product or choose to shop later if they are assured that promotions are meant to last for the whole season. Another point is on-time delivery promised by brands during peak holiday season that obstructs the actual purchase process.
To lift up sales results & mobilize quick purchase, set flash deals with urgency, cashback or limited-time offers to create an impulse of missing out a great deal at hand. 50% of online shoppers are ready to make a purchase if it’s a limited time offer. Offer free-shipping along with the deal – this definitely works & watch how your sales numbers soar!
It’s never too late. With all of them discussed above, start getting prepared with these 6 holiday shopping trends to develop your holiday marketing strategy from now onwards. Get an extra edge by building best practices & tactics to entice shoppers & make your deal so exciting that your customers steal the deal right away! Marketers! Are you still thinking?