We all know that retailers and brands are pushing consumers to shop for holidays and events earlier and earlier. But here’s a question: is it actually driving more sales, or just shifting spending to earlier in the year? https://lnkd.in/g3Gt5JdH
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???????? ?????? ???????? ?????? ?????????????? ?????? ?????????? ???????????? ????????: Online sales:?Shoppers spent a record $10.8 billion online on Black Friday 2024. Store traffic:?Store traffic was down 3.2% overall, with footfall down 7% in the Midwest, 2.1% in the Northeast, 3.5% in the South, and 3.2% in the West. Top-selling products:?The top-selling products on Black Friday were: Electronics: $17.7 billion Apparel: $14.5 billion Grocery: $7.5 billion Furniture/bedding: $9.5 billion Cosmetics: $3.2 billion Discounts:?Discounts were predicted to peak at 30% off listed prices during the 2024 Holiday Season. Average holiday spend:?The average expected holiday spend in 2024 was predicted to reach $1,778. Holiday budgets:?Holiday budgets were 32% higher in 2024 than in 2023. Shopping start date:?32% of shoppers said they'd begin their Holiday Season shopping for 2024 between July and October.
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???????? ?????? ???????? ?????? ?????????????? ?????? ?????????? ???????????? ????????: Online sales:?Shoppers spent a record $10.8 billion online on Black Friday 2024. Store traffic:?Store traffic was down 3.2% overall, with footfall down 7% in the Midwest, 2.1% in the Northeast, 3.5% in the South, and 3.2% in the West. Top-selling products:?The top-selling products on Black Friday were: Electronics: $17.7 billion Apparel: $14.5 billion Grocery: $7.5 billion Furniture/bedding: $9.5 billion Cosmetics: $3.2 billion Discounts:?Discounts were predicted to peak at 30% off listed prices during the 2024 Holiday Season. Average holiday spend:?The average expected holiday spend in 2024 was predicted to reach $1,778. Holiday budgets:?Holiday budgets were 32% higher in 2024 than in 2023. Shopping start date:?32% of shoppers said they'd begin their Holiday Season shopping for 2024 between July and October.?
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The 2024 holiday season is shorter, with five fewer days between Black?Friday?and Christmas compared to?2023, but strong sales growth is still expected. Retailers, including Amazon, Target, and Walmart, launched promotions earlier than ever to adapt to the compressed timeline. Analysts predict retail sales in November and December will increase by 2.5%-3.7%, reaching nearly $989 billion. Key Takeaways: Early Deals:?Major retailers kicked off holiday sales as early as October to capture shoppers’ attention ahead of the limited days between Black?Friday?and Christmas. Black?Friday’s Changing Role:?Although Black Friday remains a key shopping day for specific deals, its significance has diminished as discounts are spread across the entire season. Shopping Channels:?Most consumers are shopping online, but physical stores still play an important role, especially for those looking for hands-on experiences or making last-minute purchases. Retailer Strategies:?To navigate the shorter season, retailers are focusing on seamless omnichannel experiences, improved inventory management, and ensuring timely delivery. Economic and Cultural Impacts:?While inflation and interest rates are likely to influence consumer behavior, shoppers remain focused on celebrating with family and traditions. Despite the logistical challenges of a shorter holiday window, experts still expect a strong finish to the season. Retailers are adjusting by improving fulfillment systems and rolling out personalized marketing campaigns to capture spending as shoppers continue to look for value and festive experiences. These and many other strategies have enabled retailers to capitalize on the shorter days available to make up and surpass last year’s performance results. The race is well on. #holidayseason #2024holidayseason #blackfriday #christmas #retail #retailnews #amsterdamassociates
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While pricing and promotions remain top-of-mind for consumers, as we head into the heart of the holiday shopping season it's essential to remember that an abundance of offerings can lead to deal fatigue — For brands and consumers alike. According to a recent article from Modern Retail, retailers need to be cautious about over-relying on discounts and promotions to drive sales. Not only can keeping up with constant new promotions be costly from an advertising standpoint, excessive discounting can lead to decreased brand value and customer loyalty. Instead, retailers should focus on strategies to keep consumers engaged and excited throughout the season. Here are some key takeaways: Tiered discounts: Offer tiered discounts to reward repeat customers and encourage larger purchases. Loyalty points and rewards: Implement a loyalty program to incentivize repeat purchases and build customer loyalty. Rotate products on sale: Keep customers guessing by regularly rotating which products are on sale with each . This can create a sense of urgency and excitement. By implementing these strategies, retailers can avoid falling into the trap of deal fatigue and ensure that their holiday sales campaigns remain effective. Read more here:?https://bit.ly/3XUvJFM #HolidayShopping #OmnichannelMarketing #Retail #Advertising
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Black Friday deals are kicking off the holiday season, and consumer spending is expected to break records. Of course, the holiday period is shortened this year, putting even more pressure on retailers (and for consumers for that matter, to get their shopping done). Retailers are going to have less time to capture your hard earned dollars, and I know I am being bombarded with offers and messaging from the brands with which I interact (many with pre-Black Friday sales). While the shortened time frame isn't predicted to impact total spend, I wonder if it might cut into margins. Since assortment and inventory planning are dear to my heart, I will be particularly interested to see if we end up with large markdowns in January, as well as which Retailers emerge the best due to their products and inventories being better positioned. What do you think will happen? https://lnkd.in/eBF5uGnz
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When do Christmas sales start? This age-old question signals the arrival of a thrilling season for both shoppers and businesses. In this article, we not only unveil the timeline for the start of Christmas sales but also delve into what to expect in 2024. From cutting-edge trends in personalized shopping experiences to the promise of robust retail growth, we will explore the factors that will shape the Christmas sales landscape. Get ready for a festive shopping adventure brimming with irresistible offers and holiday cheer. https://lnkd.in/gj_J-8rw
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With fewer shopping days between Black Friday and Christmas this year, consumers who hold out to start their holiday shopping could find it costs them more in the long run. "With rushing comes poorer decision making and a higher likelihood of overspending or buying unnecessary items,” explains #marketing professor Tandy Thomas. Read more in The Globe and Mail: https://lnkd.in/ggx2Tdnc #SmithBusiness #Marketing #BlackFriday
Shorter holiday shopping season ups pressure on Canadian retailers and consumers
theglobeandmail.com
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?? Holiday Season 2024: Retailers, Are You Ready? ?? With inflation stabilizing but household budgets still tight, consumers are becoming more selective in their holiday shopping. This shift offers both a challenge and an opportunity for retailers: fewer items may be purchased, but well-planned promotions and targeted sales can capture attention and encourage spending within these more cautious, value-driven budgets. Want to stay ahead of the curve this season? Dive into our latest blog for key trends and must-have strategies to boost your holiday sales. ?? ?? Read the full blog here: https://lnkd.in/e9yETddB
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Discounts are now available all year round. But soon consumers will be able to ‘really save’, promises a major online retailer. ?? It's that time again. Around the last Friday in November, shops and online shops advertise big discounts. In America, where Black Friday originated, the day traditionally follows the Thanksgiving holiday and - with record sales - is regarded as the start of the Christmas shopping season. ?? But how much can you actually save on the campaign day? A brand-new price study is likely to disillusion many people with high expectations. Although two thirds of the items analysed on Black Friday last year were cheaper than in the previous month, the average saving across all categories was only 6 percent. ?? Word has got around that Black Friday is not necessarily the cheapest sales day. This fits in with the quoted idealo internet GmbH analysis, according to which every second item last year was cheaper on another day in November than on Black Friday itself ?? Price foxes have adapted to this and use price search engines not only to monitor the price trend for a specific desired item, but also to set a price alert. They then receive a notification as soon as the desired price is reached. Buyers should not be blinded by the recommended retail price (RRP), which retailers like to use as a comparison for red pencil prices, as this is the price that manufacturers recommend to retailers as the retail price. As a rule, it is always higher than the price charged by the retailer in the shop. Linking a discount to this is a simple marketing tool. ?? Interested in boosting profits with innovative pricing and sales excellence? PM me and let’s chat. Get your copy of ‘The 10 Rules of Highly Effective Pricing’ here: https://rb.gy/h4t8yr Get your copy of ‘The Pricing Model Revolution’ here: https://rb.gy/fuhzqy
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??? The way people shop during the holiday season is changing. ?? To maximize seasonal sales, businesses must understand these changes and adapt. Read our latest blog for insights on holiday spending trends and their impact on retailers. https://lnkd.in/eDyzURGb
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