Holiday sales make up nearly 20% of the retail industry’s sales per year, according to Statista. The National Retail Federation predicts that in 2018 holiday sales could reach $720 billion, which would fit the trend over the past five years of 5% increases in holiday sales every year.
In order to take advantage of these trends, sellers need to start marketing for holiday sales by October. Having more time to execute marketing initiatives, means a better chance of optimizing reach. Because holiday spending has been increasing every year, other businesses and competitors have taken advantage of the trend too and are also trying to reach people at the same time, creating a lot of clutter to break through. Marketing early means having more time and potentially more opportunities to reach individual consumers.
Be On The Right Platforms
Businesses that want a piece of holiday consumer spending have to use the right platform to reach their audiences. Keeping up with where target consumers are is key. In general, many consumers are on the prowl for the best deals online, and specifically on their mobile devices. That’s why businesses may need to focus some efforts on targeting smartphone users. Additionally, a portion of consumers wait until after the holidays for larger discounts. It would be wise to leverage this behavior and create a promotions plan to get ready for it.
Limited Edition & Holiday Themed Product Offerings
The National Retail Federation did a survey of American shoppers and found that on average, each consumer was planning to spend up to $500 for holiday gifts along with $115 for candy and $78 for decorations.
Holiday sales also litter stores and ecommerce. Plastered all over the Victoria’s Secret website and in-store POS signs this year is the ad below. The iconic VS does not stop there. They’ve added an array of limited time sales and a gift guide to boot!
Many companies offer limited edition or new holiday themed products that take advantage of holiday spending habits. For instance, Too Faced, a makeup brand released a gingerbread-flavored lip gloss and a Christmas tree shaped eyeshadow palette.
You don’t have to be in the makeup or clothing industry to use the same concepts. Take a look at some other industries that are doing this, including the restaurant industry with Grinch-themed pancakes, and in retail, Home Depot pushes Black Friday and Cyber Monday way beyond the weekend – making the whole month of November one big sales deal.
So, if you want to leverage the holiday spending craze, get in-touch with us. Whether you want a killer promotions plan, want to design your very own gift guide, or repackage products for the season, Sinuate Media will help you end your quarter and year on a great note with a strategy to for the holidays. Call 575-915-3878 or send us a message.