Published on February 25, 2014
2013 HOLIDAY TRENDS
Preparing For Holiday 2013 Holiday Planning The holidays are filled with opportunities for brands to reach consumers. During the highest sales season, retailers look to trends, key metrics and new technology to gear up for fall 2013. In 2012, retailers saw a consumer landscape in the midst of change. 2013 will continue the evolution of how people shop and how retailers adapt to the new techniques to take full advantage of all the holiday season has in store. 1
CONTENTS HOLIDAY SHOPPING 2013 macro trends KEY HOLIDAY PERIODS MOBILE Payment 2 SHOPPER OUTLOOK IMMERSIVE SHOPPING Buying Power PRE-TAIL SHOPPING SMARTER HOLIDAY TACTICS 2013 Mobile Optimization SUCCESS in 2013
Key Holiday Periods Message Timing The holiday season requires a focus on key periods for strategic messaging. Email still dominates the messaging platform, delivering 28.5% ROI, representing $43.62 for every dollar spent. Seasons within a Season Treating social media as a discovery engine allows for messaging to meet consumers in their digital comfort zones. Effective messaging will link across channels. 2013 Key Promotional Periods Thanksgiving Promotional Period Tue 11/26 – Thu 11/28 Black Friday Promotional Period Fri 11/22 – Sun 12/1 Begin the messaging campaign a week before Black Friday Cyber Week Promotional Period Fri 11/29 – Thu 12/5 The start of holiday shopping and biggest U.S. shopping period Cyber Monday Promotional Period Sun 12/1 – Tue 12/3 Online deals and mobile optimization play key roles Christmas Promotional Period After-Christmas Promotional Period 3 Thu 12/5 – Wed 12/25 Thu 12/26 – Sun 1/5 Sources: Bronto, iContact Consider a reminder email to keep promos top of mind Super Saturday (12/21) – target last-minute shoppers Push remaining merchandise and target gift card consumers
Shopper OUTLOOK Consumer CONFIDENCE On the rise June 2013 marked a six-year high on the Consumer Sentiment Index, rating at 84.5 6% increase from 2012) and a (a Consumer Expectation Index rating of 77.8 (a 4% increase from 2012). YEAR OVER Year Consumers are more optimistic than in 2012, but they are still cautious shoppers. Reporting shows an improvement in consumer finances across all income groups, most notably in those earning more than $80,000 a year. The upswing is a key predictor for consumer holiday spending. The perceived economic recovery will likely continue a lift for 2013. What Does This Mean? “Consumer confidence has gained significant traction and is likely to help retailers in the coming months.” (Chris Christopher, Economist, IHS Global Insight) 4 Sources: Reuters, McClatchy
Buying Power SPENDING PREDICTIONS 2013 presents a 4–4.5% growth prediction in retail consumer spending. Mobile Growth Sales of smart devices are predicted to grow by 20%, generate 20% of all consumer electronics sales and drive 57% of all market growth. What Does This Mean? “Hourly earnings have risen 2.2% over the past year, with inflation at only about half that rate, adding some real spending punch to consumers’ pocketbooks.” (NRF CEO Matthew Shay) Q3 sales will have slow growth, with an increased pace expected in Q4. “The good news is that consumers are still spending, just with cost and practicality in mind.” (Shay) 5 Sources: Kiplinger, NRF, IDC
Shopping Smarter Cross-Platform 76% Shopping Companions of smart device owners are researching brands in-store while shopping (spiking at 89% in 18–34) 65% of smart device users are comparing prices online while in-store Tablets have higher conversion rates than mobile. These rates are more pronounced during holiday seasons. Black Friday 2012 produced 4.4% conversion for tablets versus iPhone/Android at 1.7%. What Does This Mean? Nearly 52% of consumers will shop online during the holiday season. With tablet sales expected to exceed $100 million this year, positioning the message across these devices and adapting to new methods of payment will ensure an omnichannel system of engagement. 6 Sources: Ipsos, Smarter Commerce, Google Think
Mobile Optimization Changing Landscape 90% Omnichannel Shopping of smart device shoppers use mobile for pre-shop searches 58% : 57% 44% Location Hours Price Comparison 31% 31% 30% Product Info Availability Reviews In-Store Mobile USE Smart mobile devices are transforming the in-store experience, and mobile search is now the consumer’s number one resource. Mobile POS is changing the way people shop and creating a whole new landscape, free of fixed POS registers. 1 in 3 shoppers seek information from mobile devices versus asking retail store employees. What Does This Mean? “A holiday 2012 GfK Roper survey asked all consumers, not just smartphone owners, how retailers could make the in-store shopping experience better for next year’s holiday season. More than half wanted exclusive offers delivered in-store to mobile devices. Among smartphone owners, requests included in-store navigation on their phones and mobile payments.” (eMarketer) 7 Sources: Mashable, Google Think, eMarketer
Mobile Optimization 65% Responsive Web Design of in-store shoppers prefer mobile sites over mobile apps Design and format a website with mobile viewing in mind by using queries to detect the device display. Direct Response Mobile open rates are up 138% over the past 18 months and are predicted to peak again in December 2013. Mobile technology is influencing the path to purchase and increasing purchase sizes. What Does This Mean? Mobile callouts in SMS and email ensure that the brand has visibility throughout all mobile touchpoints. With tablet sales expected to exceed 100 million this year and mobile open rates peaking at the height of holiday shopping, brands want to capitalize with a complete mobile experience translating to mobile purchases. 8 Sources: Mashable, Google Think
Mobile Payment DIGITAL WALLET The Present Who’s using mobile payments? The Future What will be the most popular mobile payment option? 39% 31% 18% 9% 3% Millennials (18–30) Gen Xers (30–45) Young Boomers (46–50) Old Boomers (51–64) Seniors (65+) 27% 19% 16% 14% 13% 10% 1% NFC Enabled SMS Based Embedded Credit Cards Web Browser Enabled Java Based Other USSD Based ( What Does This Mean? GSM Messaging ) The collaboration among merchants, financial institutions and mobile carriers on the future of mobile payments is reinforcing the growing technology. Starbucks is the market leader, delivering 10% of all U.S. transactions via mobile payments. 2012 mobile holiday shoppers displayed a comfort zone of $20–$100, accounting for 63% of those purchases. 9 Sources: Deloitte, Verge, Litle
Immersive Shopping The Death of QR Codes The Rise of Alternative TECH Lack of Flagship Support SMS Short Codes LOW Consumer Incentive Augmented Reality Apps Neither Apple nor Android have a pre–loaded QR reader. The standard and functional text solution. Often the destination site is not mobile-optimized or it is a poor call to action. Requires a downloadable app, but the result is a more interactive mobile experience. Poor Placement Bluetooth AND NFC Poor placement in areas without Wi-Fi or cell coverage or where point and click was challenging. Will be supported by flagship devices and require minimal end-user effort. What Does This Mean? QR codes can still be useful, but they are no longer the be-all and end-all that previous years predicted. Holiday promotions featuring standard options and future-driven technology provide a consumer a richer experience with a higher rate of adoption. Holiday-inspired SMS campaigns that promote in-store app interaction are effective calls to action. 10 Sources: Marketing Land, Computer World
Pre-Tail Juice Tank Concept Shopping Pre-Sumer Consumers are now shopping for products and services prelaunch. In 2012, donations and reward-based crowdfunding grew 85% to $1.4 billion. The rise of market leader Kickstarter reflects this incredible growth: 2.2 million people, from 177 countries, contributed $270 million to campaigns. iPhone Charging Case What Does This Mean? Companies like Kickstarter, Crowd Supply and Christie Street are allowing consumers into the conception and production processes. This interaction builds trust and anticipation in the consumer. Many crowdfunded projects are making the leap from the crowdfunding platform to physical retail, entering the seasonal market with traditional retailers with one vital difference: prepurchase consumer bond. Holiday retailers can benefit from this expectancy factor by building up holiday product releases earlier in the season. 11 Source: Trend Watching
Holiday Tactics 2013 CASHING IN Re-Commerce Consumers are realizing the value held in products they currently own. From clothing to electronics, shoppers are selling back or trading in items for their market value in exchange for newer products. This trend is displayed across industries, with mobile smart device recommerce the current mobile carrier-led promotion. What Does This Mean? Re-commerce creates a feel-good factor in repurposing older items and provides more value in higher-priced products—knowing they will be worth something at trade-in. This tactic also allows consumers to experience every iteration of a product and not generation-skip because of a contract or price point. These consumers are then able to make holiday purchases yearly, providing retailers a steady stream of exchange. 12 Source: Trend Watching
Holiday Tactics 2013 Gifting GIFT GUIDES AND WISH Lists Gift guides are the most utilized and well-received form of mailings, with 48% higher transaction rates than normal promotional mailers. Wish lists provide insight into shopping trends and allow immediately shareable content. Gift CARDS Flexible, convenient and 2012’s hottest holiday gift with spending at $28.8 billion. The Jifiti mobile app streamlines mobile gifting and wish lists to a new generation of shoppers, merging the thoughtfulness of a personal gift with the flexibility of a gift card. What Does This Mean? Retailers can own this by creating holiday gift guides and wish lists that reflect individual consumer preferences. Gift cards can be used across industries, varying from mobile prepaid minutes, coffee purchases, groceries and electronics. 13 Sources: Experian, NRF
Holiday Tactics 2013 In-Store Promotions Price Match Mobile showrooming is leading to an increase in price-matching promotions in 2013. Retailers are combatting in-store digital price comparison by offering year-long price-matching programs to keep the purchase in-store. Cheapism.com provides a review of the best and worst price-matching policies, with Target, JCPenney and Lowe’s leading the approach. Brand Experience Shop-in-shop and brand experience stores are emerging as the most effective way to capture in-store traffic and provide consumers with information directly from brand representatives. One of the few drawbacks of online shopping is the absence of the “touch-and-feel” experience. Consumers still want to test and see the product in a physical setting. Creating a “clicks-and-mortar” community involves drawing consumers in through mobile and delivering in-store with an engaging experience and innovative store design. What Does This Mean? Promotional programs that target the time-sensitive, cost-conscious consumer lead 2013. With more shopping options than ever before, consumers this holiday season will expect more than an ordinary shopping experience. 14 Sources: Cheapism, Forbes
SUCCESS IN 2013 Key TAKEAWAYS Deliver Across All TouchPoints Capitalize on A Willing Shopper Engage the Consumer Early On Create a Consumer Experience Optimize For Mobile Devices 15
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