Q4 presents one of the busiest shopping periods of the year as shoppers get ready for the season of gifting. This year, over 60% of shoppers plan to spend more or the same as last year, underlining the importance of robust methods to maximise your ROI in a time when competition is tighter than ever before.
We surveyed 2,000 shoppers to find out what’s driving them during this year’s festive season. In our Golden Quarter report, we’re bringing you the insights we found out, as well as advice and guidance to give you what you need to gear up for online growth during the peak period.
What's inside:
🛍️ Consumer spending intentions
Shopping budgets are stable, but still optimistic: While many consumers plan to maintain their 2023 spending levels, 13% intend to spend more, indicating an opportunity for increased sales.
Shoppers coming of age: A significant portion of younger shoppers (33% of 18-24-year-olds) plan to spend more, offering a lucrative target for retailers.
Spontaneity equals success: Younger shoppers are more likely to make spontaneous purchases, underscoring the need for early and consistent holiday campaigns.
🤔 Product preferences
Looking for luxury: Tech, beauty, and fashion items are highly sought after across all age groups, with notable interest in luxury items among younger consumers.
Undecided shoppers: 24% of consumers are undecided on their purchases, presenting an opportunity for targeted peak season campaigns.
🌍 Brand and regional variations
Big vs small brands: While loyalty is evenly split, younger consumers and certain regions show a strong preference for small, independent brands.
Regional differences: Londoners show a higher tendency to support small online brands compared to other regions.
❤️ Shopping motivators
Nostalgia and self-love: Emotional triggers such as nostalgia and self-love are significant motivators for festive spending.
Delivering discounts, keeping up quality: Price, quality, and discounts remain critical factors, with Northern Ireland and East Midlands being the most price-conscious regions.
💻 Marketing & engagement
The website still dominates: Websites remain the top channel for brand engagement, but social media is crucial for younger demographics.
Preferred payments: Alternative payment methods like PayPal and mobile apps are gaining traction, especially among younger shoppers.
Report recommendations:
🔎 Advertising and SEO
Power up your paid search: Introduce holiday offers and talk up your unique selling points in paid search campaigns, making use of tools like Performance Max to reach more potential customers.
Seasonal SEO: Seasonal keywords and content are optimised for search engines, leveraging trends from platforms like Pinterest and TikTok.
💰Marketplaces strategy
Get seen and play to your strengths: Relevant keywords and compelling content vastly improve the performance of your listings. User reviews and competitive pricing tools can also enhance visibility and sales.
Bundle up: Offer bundled products and exclusive items to increase average order value and reduce direct competition.
📧 Email marketing
Make it personal: Build engagement through early access emails, consumer polls, and personalised content.
Keep it consistent: Regularly communicate with subscribers ahead of peak seasons to build anticipation and engagement.
💳 Checkout experience
Seamless payments: Offer a variety of payment options, including Buy-Now-Pay-Later (BNPL) and digital wallets, accommodating for diverse and expanding shopper preferences.
The optimal checkout process: Ensure a fast, transparent, and user-friendly checkout process to minimise dropouts and maximise conversions.
🤳 Social commerce
Don’t forget features and UGC: Utilise platform-specific features like Meta's Advantage+ Shopping and focus on user-generated content to build trust and drive more sales at key times.
Budget smart: Allocate budgets tactically across social platforms to maximise your brand’s impact and reach.
Access your ultimate guide to Q4 2024
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It’s never too early to start preparing for the peak shopping season, but it can certainly be too late. Get the extra detail you need to deliver for your business by reading Visualsoft's Golden Quarter report in full, which you can download below.