Over 32% of Gen Z shoppers, 39% of millennials, 40% of Gen Xers, and 33% of boomers have cut down on their spendings.
Today’s consumers are cautious spenders, but festive occasions ignite their desire to shop. While these peak moments drive sales, marketers must shift their focus from December-centric strategies to year-round consumer understanding.
Inflation is taking a toll on consumer spending behaviour. But, in May 2024, sales tracked by Retail Dive saw healthy growth, increasing 4.5% year over year, as compared to 2023.
With advanced shopper insights and AI-powered advertising, brands can build trust and stimulate purchases throughout the year. Here’s how you can unlock new opportunities to capitalise on global shopping.
How To Understand Shopper Mindsets For Seasonal Sales
Google has dissected different buying behaviours — deliberate, deal-seeking, determined, or devoted — as they approach seasonal events.
Most individuals often are a mix of these four core mindsets, however, many more tendencies emerge closer to specific sales dates or cultural milestones. By tailoring your brand strategy to these evolving consumer attitudes, you can deepen customer relationships and boost sales year-round.
Deliberate Shoppers
59% of holiday shoppers know what gifts they are buying heading into December.
Who are deliberate shoppers?
Deliberate shoppers are meticulous planners who seek inspiration and conduct thorough research well in advance of seasonal events.
In fact, nearly 60% of holiday shoppers enter December with specific gifts in mind. A striking three-quarters of purchases made between October and January were preceded by product research, with a quarter of consumers conducting in-depth exploration.
How do they shop?
Sales days often trigger deliberate consumer behaviour, as shoppers prepare to capitalise on the best deals. Last year, global searches for “Black Friday” surged as early as October. Over 58% of consumers expressed their intention to plan purchases for upcoming sales events in early October 2023.
How can you attract deliberate shoppers?
Initiate promotional efforts well in advance of peak sales periods. YouTube Video View and Reach campaigns inspire deliberate shoppers during their gift-seeking journey and drive conversions with compelling calls to action.
For even greater impact, deploy Demand Gen campaigns to amplify purchase intent.
Deal-Seeking Shoppers
75% of shoppers said they keep their eyes open for promotions throughout the holiday season.
Who are deal-seeking shoppers?
Deal-seeking is a year-round consumer mindset, not limited to specific sales dates.
How do they shop?
A whopping 75% of holiday shoppers actively search for promotions throughout the season. For these bargain hunters, deals often inspire future purchases.
How can you attract deal-seeking shoppers?
Time your promotions to build excitement for key events. Once you engage deal seekers, provide discounts, give them higher customer ratings, reviews, and delivery options directly within product listings, you earn a loyal customer.
Determined Shoppers
As deadlines approach, shoppers transition into a determined mindset.
Who are determined shoppers?
Even the most organised consumers may succumb to last-minute purchases.
As the holiday deadline looms, determined shoppers turn to Google for immediate solutions. Performance Max campaigns effectively reach these time-crunched consumers across multiple platforms.
How do they shop?
Nearly 43% of holiday shopping was completed by December last year, underscoring a significant post-Cyber 5 sales opportunity. To reach these time-crunched consumers, allocate marketing budget for a late-season push.
In 2024, Black Friday will happen five days later than last year, giving people less time to complete their holiday shopping during peak season. The timing has implications beyond the U.S. market too. In the U.K., Germany, and Australia, the importance of Black Friday shopping has increased over time.
And, in markets where importance has remained consistent, like Brazil and France, the majority say Black Friday is important for their holiday shopping.
How can you attract determined shoppers?
To capture last-minute demand, focus on guaranteeing pre-holiday delivery.
Local Inventory Ads and Performance Max for Store Goals highlight your physical locations and promotions, appealing to shoppers seeking instant gratification.
Provide detailed information on store hours, local product availability, and convenient fulfilment options like buy online, pick up in-store, same-day delivery, and more.
Devoted Shoppers
1 in 5 purchases during the holiday season were made using loyalty points.
Who are devoted shoppers?
Following peak holiday shopping, consumers often shift focus to self-gifting and continued deal-seeking. This presents a prime opportunity for brands to cultivate long-term loyalty.
Over 40% of shopping searches in early 2024 explicitly mentioned brands or retailers.
How do they shop?
Strong brand relationships attract long-term customers.
Positive experiences, rooted in quality, trust, reputation, and service, create deeper connections. Customers who invest time in product research are more likely to feel a strong affinity for the brand. This loyalty translates into tangible results, with one in five holiday purchases made using loyalty points.
How can you attract devoted shoppers?
Post-peak shopping offers a prime opportunity to build long-term customer loyalty and increase lifetime value. If you have an app, promote it to drive engagement.
AI-powered App campaigns streamline user acquisition and retention, expanding your app's reach across Google platforms.
While regional holidays and cultural events vary, the underlying consumer behaviours remain consistent. To maximise impact, retailers must tailor their strategies to these pivotal shopping moments.
Use AI-powered advertising to connect with shoppers at each stage of their journey, and optimise every interaction.
Need a fresh perspective? Let’s talk.
At 360 OM, we specialise in helping businesses take their marketing efforts to the next level. Our team stays on top of industry trends, uses data-informed decisions to maximise your ROI, and provides full transparency through comprehensive reports.
