Coming Soon: A $1 Trillion Holiday Shopping Season
Get ready for a strong holiday shopping season. eMarketer has raised its 2018 holiday shopping forecast, with total retail spending growth expected to be 4.1 percent, up from eMarketer’s previous prediction of a 3.8 percent growth rate. The 2018 season will approach $1 trillion in spending, or $986.77 billion to be more precise. In addition, eMarketer says that retail ecommerce will grow at 16.2 percent, with that growth being driven largely by mobile.
“We expect that the 2018 holiday retail season will be one of the strongest in recent years,” eMarketer said in the October report, Holiday Shopping 2018. Reasons for a strong season include:
- A strong economy that will fuel spending.
- A lengthy shopping season, with 32 days occurring between Thanksgiving and Christmas, the longest possible calendar between these two landmark dates. “This will give shoppers ample opportunity to complete more of their holiday shopping online,” noted eMarketer.
- The growth of mobile. “The other key growth factor is the extent to which mobile is fueling consumers’ ecommerce migration” said eMarketer. “Mobile now drives nearly two-thirds of online shopping activity, according to research firm comScore, and is inching ever closer to a majority share of ecommerce spending. Although shoppers are still much more likely to shop than buy on mobile, they are increasingly comfortable transacting on smartphones, thanks to more seamless, optimized experiences on both mobile web and apps.”
The prospect of a stronger holiday season is good news for retailers and consumer electronics firms. Per eMarketer, “Consumer electronics will prove popular during the 2018 season, particularly with an ever-expanding slate of voice-activated and connected home products hitting the market. Apparel and accessories will continue its online migration, while the toys and hobbies sector promises to get more competitive.”
The companies in the best position to thrive:
- Have strong mobile commerce operations.
- Capitalize on an expected intense period of spending around Black Friday and Cyber Monday. Black Friday is no longer a single-day event. The day really begins on Thanksgiving now.
- Effectively invest in advertising across the digital world, with a focus on Google, Amazon, and Facebook.
To make sure you benefit from the holiday spend, be sure to check out some recently published resources from True Interactive:
- “Advertiser Q&A: Amazon Sponsored Ads,” a post from Samantha Coconato that discusses one of Amazon’s popular advertising products for businesses that have a presence on the platform.
- “How Facebook Is Gearing up for the Holiday Season,” a column I wrote for Adweek Social Pro Daily. This article discusses some of the features Facebook has rolled out to help advertisers showcase their inventory and build their brands.
- “Amazon Gears up for the Holiday Season – and So Should You,” a post by Tim Colucci that discusses the launch of an attribution tool that should help businesses more effectively measure their advertising spend.
At True Interactive, we’ve been actively working with clients to create successful holiday advertising campaigns online. Contact us if you need assistance with yours. We’re happy to help.
Photo by Anna Dziubinska on UnsplashRetail