07/12/2020
Google has identified several 𝗰𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝘁𝗵𝗮𝘁 𝘄𝗼𝘂𝗹𝗱 𝗯𝗲 𝘃𝗶𝘁𝗮𝗹 𝗳𝗼𝗿 𝘁𝗵𝗶𝘀 𝘆𝗲𝗮𝗿’𝘀 𝗵𝗼𝗹𝗶𝗱𝗮𝘆 𝗺𝗮𝗿𝗸𝗲𝘁𝗶𝗻𝗴 initiatives:
CONSUMER INSIGHT 1: More consumers are shopping online for items that they would usually buy in-store.
The accelerated rate of the e-commerce boom has forced traditional retail organizations to jump to the digital bandwagon. As consumers abandon their long-established buying habits, homebound customers have begun to try new opportunities to purchase their everyday necessities. Google noted that besides the apparent rise in online grocery shopping, 1 in 4 shoppers opted to go online to buy something that they would typically buy in-store.
To prepare for the holiday season, businesses need to prioritize on doubling down their omnichannel strategy. Since more consumers are now getting accustomed to buying things online, having a flexible and scalable e-commerce channel will make a big difference during this year’s holiday season.
CONSUMER INSIGHT 2: Shoppers expect new contactless operations whenever they try to make any type of purchase.
As government-imposed lockdown orders were implemented, Google reports that 53% of shoppers have started to try out new shopping services for the first time. Besides online grocery delivery, shoppers have formed the habit of trying out curbside pickups and even checking the items’ inventory before heading to the store.
The needs of consumers are also changing. With everyone staying at home and practicing social distancing, Google’s search data has shown that today’s consumers are looking for items that complement their at-home lifestyle. Businesses need to understand and be proactive enough to adjust their holiday strategies based on emerging consumer trends. Their products and services need to reflect the changing needs of their consumers.
CONSUMER INSIGHT 3: As consumer sentiment plummets, shoppers are inherently more conscious about “shopping for value.”
The widespread disruption of COVID-19 to the lives and livelihoods of families worldwide has resulted in a decrease in consumer sentiment. People are now looking for products that have more value for money. For companies to be successful in the 2020 holidays, they need to have a strong and targeted digital marketing strategy that will be able to reach the right consumers with the products that are most relevant to them, at the right price.
Consumer Trends to Expect for the 2020 Holidays
Businesses often come up with a holiday marketing strategy based on last year’s data and consumer insights. However, that kind of mindset will not be enough to prepare for the 2020 Holiday Season. To help your business prepare, here are the Top 5 consumer trends to expect for the 2020 holidays:
TREND 1: E-commerce
Expect a deluge of holiday shoppers to shop online, but some may also visit in-store for fulfillment centers.
As the global economy tries to recover, the holiday season is expected to have an end-of-year peak shopping season. Heightened physical and safety measures are expected to be still in full effect in-stores. With the increased e-commerce transactions during the lockdown, it is expected that consumers will likely patronize online shopping for their holiday shopping needs.
Companies need to be ready for the influx of holiday shoppers. Get started with your Black Friday shoppers by looking for deals that they are trying to snag. If your business has physical stores, offer considerable discounts for curbside pickup and BOPIS (buy online pick up in-store) arrangements to drive holiday foot traffic.
TREND 2: Loyalty
Drive loyalty to new online holiday shoppers.
It would be an excellent opportunity for brands to gain loyal holiday shoppers this tear. Consumers discovered new brands during the lockdown from various online shops, websites, and direct-to-consumer (DTF) businesses. If you want those consumers to come back for the holidays, then you must incentivize them in doing so.
As the holiday season draws near, create additional touchpoints with online shoppers that have visited you over the past few months by showing deals and discounts for the upcoming holidays.
You can also try to evolve the company’s video creatives with messaging that’s personalized to your target audience’s current situation, location, and context.
TREND 3: Applications
Mobile apps will influence the holiday shopper’s purchasing decision across the buyer’s journey.
The holiday season is a great time to build the brand’s consumer base on their mobile apps. Brands that market via mobile apps should focus on attracting new audiences and targeting the best potential long-term app users.
Get a head start by building your app’s user base as early as now to get ahead of the Black Friday and Cyber Monday shoppers. This is also an excellent time to bring back users. Retarget and re-engage users who have abandoned the app and target the best possible local audience.
TREND 4: Lifestyle
Complement a consumers’ new at-home lifestyle with the holiday shopping gift guide.
Consumers who stayed at home have recently rediscovered the hobbies and activities that they wanted to make time for. The homebody economy created new consumer personas such as home exercisers, homeschoolers, remote workers, and home cooks. Brands need to appropriately target the lifestyles of these consumers by making sure that data-driven product insights are being used with your company’s holiday deals and campaigns.
TREND 5: Travel
Holiday travelers will keep their visits local or even virtually.
The comfort levels of consumers will rise as the months pass by. However, consumers are expected to take short trips within the area rather than take long-haul flights. Holiday get-togethers with the family are likely to be reduced, resulting in more virtual dinners and celebrations. Companies need to stay on the top-of-mind of holiday travelers and even those who opted to stay at home and make do with virtual celebrations.
Contact us to learn more about optimizing Marketing 5Ps for the Holiday Season! ;)
