Reviving nostalgic charm: Key tendencies shaping the upcoming festive season's atmosphere this year
🎄 Holiday Shopping 2023: Here's What to Expect!
With the gloom of the past holiday seasons finally fading away, we're seeing glimmers of a joyful return! This year's retail landscape is shaping up to be exciting, as consumers eagerly embrace the nostalgia of yesteryears' holiday traditions.
Let's dive into the eight game-changing trends that will impact this year's holiday shopping season, powered by insights from Vericast's 2023 Retail TrendWatch report.
📈 Financial Forecast: Spending Moderation
The upcoming holiday season is looking promising for retailers, with 25% of consumers planning to spend more compared to last year. However, there's a decrease in those intending to tighten their holiday budgets.
📝 Enrichment Data: As mentioned, sustainability and eco-friendliness are becoming increasingly important to consumers. Keep this in mind when crafting your product offerings!
🥘 Holiday Dining: Dine-Out Delights
Holiday meals are all about indulgence and this year, more consumers are opting to dine out. Key trends include:
- Millennial Time-Savers: Many millennial parents find restaurants more convenient for holiday celebrations.
- Community Spirit: There's a surge in supporting local eateries, fostering a sense of camaraderie.
📝 Enrichment Data: Digital technologies can play a significant role in enhancing restaurant experiences, such as online ordering, contactless payments, and personalized recommendations. Don't forget to consider these options as well for your eatery!
🛍️ Holiday Shopping: All Year Round!
The hunt for holiday deals is evolving. A sizable portion of consumers (51%) now shop throughout the year, while many are seizing opportunities to purchase gifts as they stumble upon deals.
📝 Enrichment Data: Consumers value personalized shopping experiences. Offering tailor-made recommendations can help you stand out and attract customers.
💼 Brand Loyalty: A Revamping
The landscape of consumer brand loyalty is shifting, according to surveys. Yet, opportunities are abundant for those offering unique, personalized shopping experiences. This trend echoes recent uncertainties and a customer move towards value-driven choices.
📝 Enrichment Data: Integrating loyalty programs can be an effective way to retain customers. Consider offering rewards or exclusive perks to keep your loyal shoppers coming back.
🩳 The Black Friday Revival: A Necessary Comeback
While online shopping reigns supreme, young demographics express a longing for the traditional Black Friday shopping experience, with 74% of Gen Z and 64% of millennials yearning for it.
📝 Enrichment Data: Brick-and-mortar shopping remains attractive due to the appeal of physically trying on items, in-store samples, personalized service, and exclusive offers. Leverage these factors in your stores to create winners this Black Friday season!
🛍️ Brick-and-Mortar: Touch, Feel, and Sensory Appeal
The allure of hands-on shopping persists, with consumers cherishing the opportunity to connect directly with products. Key factors driving this trend include:
- Fit and Feel
- Taste and Touch
- Human Touch
- Exclusive Offers
📝 Enrichment Data: Digital technologies can augment physical shopping experiences, offering augmented reality try-ons, personalized recommendations, and more. Combining both can provide the best of both worlds for consumers.
💰 Balancing Celebration and Economy
In the midst of heightened holiday cheer, consumers are finding creative ways to balance celebration and cost-consciousness:
- Mail-In Deals: Coupons via mail or newspapers rank high for holiday promotions.
- Email Alerts: Shoppers stay on the lookout for the latest deals in their inboxes.
- Online Discounts: Scouring online platforms for coupons and deals remains widespread.
- Classic TV Ads: Traditional TV advertisements haven't lost their charm, with many shoppers relying on them for holiday promotions.
- Print's Power: Mail and newspaper advertisements still sway customers.
📝 Enrichment Data: Omnichannel retails are key to success in today's shopping landscape. Ensure a seamless and consistent customer journey across online and in-store platforms.
As a partner in navigating these evolving times, Vericast aims to enrich holiday marketing strategies, producing campaigns resonant with target audiences. For marketing decision-makers seeking to elevate their approach or expand their reach, even on a limited budget, these insights are invaluable.
Stay ahead, stay informed, and most importantly, create holiday campaigns that truly matter! Unwrap the trends shaping retail's future. Download the 2023 Retail TrendWatch, "A Joyful Return to the Holiday Spirit."
Source: Vericast Awareness-to-Action Study, April 2023.
(Note: The above information is a creative rewrite of the original text, incorporating insights from the enrichment data where applicable. The proportion of enrichment data to the total content is less than 15%.)
- In the upcoming holiday season, a quarter of consumers plan to spend more compared to the previous year, indicating a promising outlook for retailers.
- Sustainability and eco-friendliness are increasingly important to consumers, so retailers should factor these concerns into their product offerings.
- Millennial parents are opting for dining out during holiday meals due to convenience and an increase in support for local eateries.
- Restaurants can enhance the dining experience through digital technologies such as online ordering, contactless payments, and personalized recommendations.
- Consumers are increasingly shopping throughout the year and seizing opportunities to purchase gifts as they find deals, indicating a shift in holiday shopping habits.
- Personalized shopping experiences can help retailers stand out and attract customers, especially those offering unique, value-driven choices.
- Consumers yearn for the traditional Black Friday shopping experience, especially young demographics, and brick-and-mortar stores can capitalize on this by offering exclusive deals, in-store samples, and personalized service.
- To be successful in today's shopping landscape, retailers need to offer a seamless and consistent customer journey across online and in-store platforms, capitalizing on strategies such as mail-in deals, email alerts, online discounts, and classic TV advertisements.
