Still Plenty of Cheer for Retail Industry in December
This year brought a slew of new challenges for the retail industry, but initial holiday data shows a very positive outlook for merchants and brands who showed up early with engaging content for shoppers and promoted a range of fulfillment options in addition to having omnipresent offers. As we predicted back in August, consumers shopped all month long during this elongated season and RetailMeNot total November traffic was up YoY.
After a strong start to the season, RetailMeNot is looking forward to helping brands and retailers remain nimble as 2020 closes out. According to a late November 2020 survey from RetailMeNot, 93% shoppers had not yet completed their holiday gift shopping. There’s still plenty of shopping to be done during these final weeks of holiday frenzy.
Inspiring December Shoppers
Among those who said they have not yet completed their shopping, the number one reason for delay was due to consumers still figuring out their budgets in November (31%). Another one in four were still trying to figure out who they would be seeing this holiday season (25%) and what exactly they wanted to give people (24%).
In order to engage these shoppers, merchants can look to inspire their shopping journey through the use of branded content such as gift guides, featured product roundups and timely promotions to drive those last-minute decisions.
Avoiding The Last-Minute Ship Show
Retailers have been hard pressed to meet the increased demand for shipping holiday gifts to shoppers this season. Surprisingly, the majority of Americans feel confident in their ability to time purchases so that they arrive in time for holiday gift exchanges. This may be due in part to some Americans not knowing yet when they will be able to safely celebrate the holiday with loved ones, or delaying celebrations until later in the season.
Despite their optimism about being able to order in time for arrival, shoppers said that if shipping timelines did not meet their needs or became cost-prohibitive later in the season, they would check for the item in a physical store (34%) or see if it was available from another retailer (33%).
In order to meet shopper needs, retailers should communicate, early and often, about their free shipping deadlines, last-minute shopping deadlines and click-and-collect options. Additionally, keeping consumers informed of product availability both online and instore, as well as in-store safety precautions being taken, can help consumers make quick purchase decisions and feel safe shopping on whichever channel they choose.
Capturing Additional Spend
Outside of gift giving, Americans are also planning to spend a healthy amount on bringing the festivities to life. On average, consumers said they plan to spend $781 on non-gift items this holiday season, including decor for their homes, entertaining items and clothing for themselves. It seems that consumers are excited to invest in creating their own joyful environment as 2020 comes to a close; this non-gift spend is up nearly $300 from 2019. Marketing categories beyond gifts, holiday decor clearance, clothing, fitness and end of season sales, during the month of December can help brands capture higher AOV and engage shoppers looking for multiple items.
With this elongated shopping season continuing, RetailMeNot is positioned to reach shoppers throughout the funnel up until the last minute with media appearances, blog articles, email and more. Additionally, our branded content packages can help advertisers tell their unique story, highlight product deals and inspire last-minute gift purchases.
Reach out to your Account Director or partners@rmn.com for end-of-year opportunities now.
Sources:
RetailMeNot Q4 Consumer Holiday Survey, Kelton Research, n=1042, November 2020.
RetailMeNot Q4 Brand Tracker, Kelton Research, n=1500, November 2020.