Holiday Marketing 2023: Insights and Strategies for Success
The holiday season is almost upon us, and for retailers, it’s the time to shine. In 2023, understanding consumer attitudes and making smart decisions will be key to success. Zeta spoke to over 2,000 U.S. consumers about their gifting choices, budgets, shopping habits, and more. Take a look below to get a summary of the insights or download the full guide to get ahead of the game and make this season your best yet.
Black Friday & Cyber Monday: Breaking Records in 2022
The 2022 holiday season was nothing short of spectacular, setting new records in the retail world.
Cyber Monday amassed $11.3 billion in total sales, a 5.6% increase from the previous year. Black Friday saw significant growth as well, with in-store sales surging by 12% year-over-year (YoY), and eCommerce sales soaring by 14%.
Overall, online retail spending reached $211.7 billion, reflecting a 3.5% YoY increase, while total retail sales drove 7.6% YoY growth.
Holiday Shopping 2023: Key Predictions
What can we expect for 2023? Let’s dive into the insights of the Zeta study to see what consumers had to say.
Where Will Customers Do Their 2023 Holiday Shopping?
Online shopping is the single most popular way to shop this year. 37% of U.S. consumers are choosing to conduct their holiday shopping online. However, brick-and-mortar is still a huge opportunity, with a significant number of individuals looking to spend more in-store compared to last year.
When Are Consumers Planning To Start Their Holiday Shopping?
48% of U.S. customers plan to do their holiday shopping in December, with 23% not starting until the week of December 25. While Black Friday and Cyber Monday will continue to be crucial events, it’s essential to make sure your efforts are focused on all of the holiday season and not just this critical weekend.
Are Customers Still Interested in Black Friday?
54% of U.S. consumers say Black Friday and Cyber Monday are no longer compelling. However, don’t take this data at face value. Last year, 52% of customers said the same. And yet, Black Friday and Cyber Monday generated record-breaking sales.
Spending Habits and Budgeting Trends
Consumers are keeping a close eye on their budgets, with 63% making changes to their spending. 28% have cut spending to prioritize necessities like groceries, and 35% find themselves limited to essential expenses only–such as food and gas.
What Is Important to Consumers This Holiday Season?
Price is king in 2023. 43% of U.S. consumers say pricing is the primary differentiating factor that makes them choose one retailer over another. Brands should focus on pricing discounts and other pricing-related offers to appeal to cost-conscious consumers.
Top Gifting Trends
Almost half of U.S. customers plan to stick with traditional gifts, such as toys, electronics, and clothing. However, over a third are opting for non-traditional gifts like gas cards and grocery gift cards, reflecting a practical approach.
How Do Consumers Discover New Products?
The most popular way to learn about new products is via ads on websites, which overtook search this year. Ads, search, and email are the most effective ways to reach customers during the holidays. Leveraging AI and real-time data can supercharge your campaigns and ensure your message reaches the right audience at the right time.
Want to see Zeta in action?