By XPO:TMA Strategy Team
‘Tis the season for retailers, and it’s not your average year. This year, with the weight of increased living costs on everyone’s shoulders, the Australian holiday shopping season promises to be unlike any other. Each year, the holiday shopping season kicks off earlier and earlier, with Amazon Prime Day sneak peek appearing in October and the official Black Friday frenzy descending on November 24th. The shopping extravaganza continues through the weekend, culminating in Cyber Monday on November 27th.
Despite the surge in e-commerce, a remarkable 73% of Australians still prefer the traditional brick-and-mortar shopping experience, 14% higher than the global average (Source: Ayden). This holiday season, we at XPO: The Mars Agency have a few strategies up our sleeves to enhance the in-store shopping experience.
Be Discoverable
In the digital age, the shopping journey starts online. A whopping 68% of Australian shoppers research products online before making in-store purchases (Source: Nielsen). They’re not just walking into stores; they’re virtually strolling through a digital marketplace. Therefore, your presence should be known and accessible.
To ensure potential customers can easily find information about your products, invest in a robust SEO strategy. A strong SEO presence means more potential customers knocking at your virtual door. Additionally, employ content marketing strategies like creating buyer guides and product comparisons. Providing valuable content not only helps inform potential buyers but also positions your brand as an expert in the field. You can also collaborate with your PR team to ensure that your products are reviewed and featured by popular influencers and blogs. Positive reviews and influencer endorsements can significantly boost your brand’s exposure, making it more appealing to holiday shoppers.
For more on this, check out our online holiday season predictions for 2023.
Make Waves
Creating a buzz is essential to stand out in the holiday shopping frenzy. In-store events and activations are fantastic ways to grab attention and drive sales. These events create a sense of excitement and urgency, motivating consumers to make purchases. In fact, 74% of consumers say that engaging with branded event marketing experiences makes them more likely to buy the products being promoted (Source: Event Marketing Institute).
A prime example is Myer, a major Australian retailer, which organizes its Shopmas event. This event is specially targeted at their Platinum, Gold, and Silver MYER one members, offering exclusive in-store-only deals for one night only. Such tailored events leave a positive impression on your audience and increase the likelihood of making a purchase. Consider creating holiday events that resonate with your specific target audience to foster a deeper connection with your brand.
Diverse Deals
Research by the Australian Retailers Association, in partnership with Roy Morgan, reveals shoppers are tipped to spend $6.36 billion across the four-day Black Friday/Cyber Monday weekend – up 3.0% from last year. However, it’s important to note that different product categories will experience varying degrees of success. While big-ticket items like TVs and sound systems might face challenges, consumers are expected to spend more of their budget to food, beverages, affordable luxuries, and discounted apparel. Shoppers are becoming more discerning and budget-conscious, with the primary motivation being to choose gifts that bring joy to their loved ones.
To effectively target budget-focused consumers, retailers should consider offering an array of options such as bundled deals, diverse product discounts, Buy Now Pay Later alternatives, and the #1 most sought-after gift for Australians: gift cards. By diversifying their offerings, retailers can cater to a broad spectrum of shoppers with varying budgets and preferences, ultimately maximising sales and capitalising on the holiday shopping season.
Essentials First
While holiday gift shopping is undoubtedly a big part of the festive season, something interesting is happening. In 2023, people seem to be leaning towards practicality. They’re focusing on getting those household essentials to make the holiday period smooth and enjoyable. It’s about ensuring they have everything they need for those family gatherings and dinner parties.
This change in behaviour offers retailers a fantastic opportunity. It’s a chance to create in-store experiences that match the holiday spirit. By catching onto this trend, retailers can connect with shoppers who are physically in their stores, each with a unique mindset compared to online or TV shoppers.
Retail Media is gaining traction among Australian retailers and brands. It’s a great way to engage with shoppers who are right there in the store. These shoppers tend to make quicker buying decisions, which is where Retail Media really shines. To connect with holiday shoppers and make a lasting impression, consider using creative grocery store promotions, especially through Retail Media. It’s an approach that aligns with shoppers’ intent, helping to boost sales and create a memorable customer experience during the festive season.
Wrap Up: The Christmas Clock Doesn’t Stop
As the holiday season approaches, the clock is ticking. Retailers, by starting early, optimising your online presence, creating memorable in-store experiences, and uniquely connecting with customers, you can position your brand for a successful holiday season.
And if, by chance, you’re reading this and feel that your brand isn’t fully prepared for this year’s holiday season, no worries. We at XPO: The Mars Agency are here to assist you in planning for a successful 2024 – it’s never too early to begin crafting a winning strategy. Here’s to creating unforgettable customer interactions during this holiday season and beyond!
