A few weeks ago on this blog, I advised retailers to prepare for a holiday shopping season that was going to ramp up earlier than ever. Well, the holiday shopping season is now here.
According to a recent Gartner survey, 32% of U.S. consumers plan to start their holiday shopping between July and October—much earlier than in previous years. In other words, they’re already in shopping mode. Axios reports that retailers like Walmart and Amazon are already capitalizing on this trend by launching promotions now:
- Walmart announced that its first wave of Holiday Deals will begin online on October 8 and in stores on October 9, running through October 13. This year’s promotion starts one day earlier and lasts two days longer than in 2023.
- Amazon has confirmed that its fall Prime Day event will take place on October 8 and 9, signaling an earlier kickoff to the holiday shopping season.
- Target will host its “Target Circle Week” from October 6 to October 12, offering a week of promotions to its customers.
- Best Buy plans to spread out its holiday promotions over several weeks, offering deals on an extended timeline leading into the holiday season.
However, high inflation is affecting holiday spending. The Gartner survey reveals that 21% of consumers plan to cut back this year, while 64% expect to maintain last year’s spending levels. This makes it even more critical for brands to offer compelling value propositions and targeted promotions that resonate with budget-conscious shoppers. Advertisers should focus on messaging that highlights savings and product quality to capture attention.
Gartner Identifies Key Holiday Shopping Trends
Interestingly, while brick-and-mortar stores are poised for a comeback, the digital side is where many deals will be made. The survey also found that 20% of consumers plan to increase their online shopping, with many seeking out hybrid services like Buy Online, Pick Up In-Store (BOPIS) and same-day delivery. Retailers should prioritize these options to meet consumer expectations for convenience and affordability, particularly as online prices are often perceived to be better than in-store deals.
Another key trend: consumers are increasingly favoring extended return policies, which provides retailers with an opportunity to build trust. Offering flexibility with returns could become a differentiator that helps retailers stand out in a competitive landscape.
With the holiday shopping season already in full swing, retailers should stay agile. By continuously monitoring consumer behavior and adjusting advertising strategies as the season progresses, brands can better align their campaigns with evolving customer expectations.
What Advertisers Should Do
I urge advertisers to embrace early shopping behavior with programmatic advertising. Doing so will help manage the likely spike in shopping caused by the holiday promotions of Amazon, Target, and Walmart, as noted above. Start programmatic ad campaigns in late September to capture early shoppers motivated by these deals. Leverage real-time bidding (RTB) to dynamically adjust your ad spend based on surges in search behavior, particularly around key promotional events like Prime Day. By bidding strategically during these peak periods, you can achieve lower CPMs and stretch your advertising budget further. Additionally, focus on creating a strong remarketing strategy to re-engage early shoppers with personalized ads that highlight new deals or remind them of products they previously viewed. This tactic ensures that your brand stays top-of-mind as shoppers continue their holiday purchases.
My recently published post, “Advertising Strategies for the 2024 Holiday Shopping Season,” contains more recommendations, including insights on how the election season will affect advertising strategies. At True Interactive, we’ve been helping our clients maximize their digital ad spend since the dawn of digital. To learn more about our client successes, visit our website and read our case studies on digital advertising.
