Retailers are preparing for a fiercely competitive holiday shopping season in 2024, with just 26 days between Black Friday and Christmas.
While online sales are set to rise, the challenge is to maximise revenue and sustain consumer engagement across the entire shopping window, which stretches from October through January
Deals, Values, and New Loyalties
Consumers are shifting their shopping behaviours this year, and retailers need to adapt:
- Early Deal Hunters: Many consumers start seeking bargains as early as October, well before Black Friday.
- Value and Quality Conscious: Shoppers want high-quality products aligned with their values but remain price-sensitive.
- Brand Loyalty Shifts: Consumers are more open to trying new brands, particularly those offering value or ethical credentials.
- Sustainability Trends: In sectors like Health & Beauty, there’s growing demand for sustainable, eco-friendly products.
A Shorter Window, Higher Expectations
Retailers face a condensed shopping window with heightened competition. Meeting consumer expectations for discounts and quality, while keeping up with evolving demands for sustainability, is more critical than ever. Retailers that fail to adapt could miss out on significant sales opportunities, as shoppers are both more value-conscious and open to trying new brands earlier in the season.
“Maximise sales in just 26 days with smart holiday strategies
Yexuan Li
Senior Paid Search Executive
Outshine the Competition
Retailers can overcome these challenges by adopting smart strategies:
- Optimised Promotions: Balance appealing discounts with profitability to attract deal-seeking shoppers without eroding margins.
- Build Loyalty Through Differentiation: Offering unique products or experiences will help brands stand out in a crowded market and foster long-term loyalty.
- Utilise AI in Marketing: Leverage AI tools like Google’s Performance Max (PMax) to execute omnichannel campaigns across Search, YouTube, and Gmail. Broad match combined with smart bidding can help capture trending queries and maintain brand visibility.
- Creative Marketing Strategies: Use video ads on platforms like YouTube, combining video with imagery for better engagement. AI-generated assets can efficiently scale content creation.
- Measure and Optimise: Regularly monitor campaign performance with tools like Enhanced Conversions. Staying privacy-compliant with Consent Mode and using first-party data will help improve ROI.
- Maximise First-Party Data: Leverage first-party data to deliver personalised offers and enhance customer retention throughout the holiday season.
Timing is Everything
With the holiday season window tightening, retailers who are proactive, flexible, and focused on meeting consumer needs will be well-positioned to capture early shoppers and differentiate themselves in a competitive market. Failure to address these trends could lead to missed opportunities and reduced profitability during this vital retail period.
