Q4 is a highly anticipated time for consumers and businesses alike. As the holiday season kicks into full gear, so does the rush of shopping activity that can significantly impact the retail industry. In this blog, we’ll delve into the holiday shopping trends for this year for insight into how to navigate this crucial period successfully.
Ecommerce vs. Brick-and-Mortar Stores
According to a recent survey, 87% of respondents anticipate visiting physical stores for their holiday shopping, while three-quarters intend to make online purchases with delivery. The findings reveal that 41% of the expected spending will occur in brick-and-mortar stores, 42% online, and 17% through click-and-collect services. There are 218.8 million online shoppers in the US in 2023 thus far, spending an average of $5,381 per person. Mobile shopping is also a driving force in the ecommerce sector. In 2022, mobile devices accounted for 73% of e-commerce visits during the holiday season with this trend likely to continue into Q4 2023. Businesses should focus on mobile optimization to cater to this mobile-savvy audience continue to strengthen their online presence and enhance the user experience.
Early Holiday Shopping
Consumers are veering away from last-minute holiday shopping and starting to plan for gift purchases earlier in the season. Last year, 46% of shoppers made their first-holiday purchase before November, while 41% of shoppers indicated they plan to start shopping by the end of October 2023. Knowing this information, retailers should seize the opportunity to entice early shoppers with attractive deals and promotions.
Conscious Shopping Choices
The desire for sustainable and ethical holiday shopping practices continues to grow. In 2022, 68% of holiday shoppers in the United States expressed interest in eco-friendly products during the holiday season. The “shop local” movement has also been gaining traction, reflecting consumers’ increased interest in supporting small, local businesses. Statistics reveal that 23% of shoppers rank shopping with small and local businesses as the top reason they choose one retailer over another. This year, small businesses should leverage this trend by highlighting their unique and locally sourced products.
Personalized Shopping Experiences
Statistics show that 91% of consumers are more likely to shop with brands that recognize, remember, and provide relevant offers and recommendations. Businesses should leverage data-driven insights to tailor their marketing and shopping experiences to individual customers during Q4 2022. Social media’s role in holiday shopping continues to grow in importance as this is a highly personalized way to reach consumers. Working with content creators who can promote your product directly onto consumers’ feeds adds a level of reliability, trust, and curation to your marketing efforts. This emphasizes the relevance of influencer marketing and social commerce features for businesses seeking to tap into this vast audience.
By adapting to these trends, businesses can position themselves for success this holiday season. Staying agile and well-informed is the key to ensuring a prosperous and enjoyable holiday season for all! Have you started holiday shopping preparation? Contact us today to start a conversation about how to leverage these trends to receive the gift of sales!