By Jay Bemis | Advertising Systems Inc.
On Labor Day eve, Americans’ minds may be transfixed on pool gatherings, sizzling burgers and a few days off work as the dog days of summer finally draw to a close.
But come next week, the thoughts of many advertisers and marketers, as well as millions of anticipatory shoppers, will turn from their Labor Day respites to THE holiday season, namely Christmas shopping. If those thoughts seem to come earlier each year — well, they do.
“This year, US holiday sales will reach a record $1.353 trillion, per our July 2024 forecast,” eMarketer reported last week.
“That holiday season is starting earlier and earlier, which means marketers need to be prepared now for shopping to pick up in September and October. The election and consumer concerns about the economy will complicate where advertisers reach consumers and what messaging they use.”
Citing data from a recent survey from CivicScience, a public opinion analytics firm, half (50%) of US holiday shoppers will start shopping before Thanksgiving this year, which is an increase of six percentage points from 2023, eMarketer said.
What does that mean for marketers?
“Early shopping means early advertising,” eMarketer wryly notes. “Plan to spread holiday budgets out over a longer period of time. Many shoppers will hold out until Cyber Five sales (at Thanksgiving time), but some will get started early as Amazon and other retailers hold October sales events.”
Four More Insights Marketers Need to Know
An earlier start from shoppers is but one of five “key stats” of which advertisers and marketers should be aware when it comes to the 2024 holiday season, eMarketer said.
Here are four more insights from its report:
- Reach shoppers through those eyes on their phones.
Sales from mobile commerce, aka “mcommerce,” will be up 13.4% in the US for the holidays, for an estimated total $140.65 billion, according to eMarketer.
How does that affect advertisers and marketers?
“Mobile advertising or ads featuring QR codes that drive people to mobile will be important this holiday season,” eMarketer said. “Last year, mobile accounted for more than half (50.6%) of US ecommerce holiday sales for the first time. This year that share will increase to 52.7%.
“The biggest chunk of time spent with mobile in the US (34.5%) will go to video, so advertisers looking to reach mobile users may look to digital video platforms like YouTube and TikTok.”
- Reach Gen Z, and other generations, via social marketing.
US Gen Zers, those roughly 12 to 27 years old in 2024, are more than twice as likely as the general population to buy holiday gifts via social platforms this year, eMarketer said, adding “some 42% of Gen Zers will buy on social media compared with 20% of the general public.”
But keep in mind that one-fifth of all generations will buy holiday gifts via social media, so “it’s not just Gen Z who marketers should be targeting.”
“Among those who plan to buy holiday gifts on social media, Instagram (57%) and Facebook (56%) will be the most popular,” eMarketer said, “followed by TikTok (43%) and YouTube (38%) … making these worthwhile platforms for reaching Gen Z and beyond.”
- Lean into value, just as fast-food giants learned to do this summer.
Last year, 55% of consumers’ purchases were completed during “the Cyber Five” period (Thanksgiving Day through Cyber Monday), thanks to sales and promotions, eMarketer said, citing National Retail Federation data.
“Consumers are still uneasy about the economy, so marketers should lean into messaging about values, deals and discounts this holiday season,” eMarketer says. “Building a sense of urgency and making consumers feel like they’ve gotten a win during a sale will help incentivize conversion.”
- Recognize that clutter may arise — thanks to the election.
Six in 10 of US agency and marketing professionals consider brand safety and suitability among the most important criteria when buying digital video ads, eMarketer notes. Ad placement can be a concern when it comes to political seasons such as 2024’s.
“With our forecast predicting over $12 billion going to political ads in the US this election cycle, and most of that spend going to TV, advertisers need to be aware of the content that may be served adjacent to their ads,” eMarketer said in last week’s report.
“Even brands that don’t want to interact with politics will be impacted by election ads crowding inventory in some states and impacting consumer sentiment.”
