By Jay Bemis | Advertising Systems Inc.
November’s arrival means it’s time for businesses, marketers and shoppers alike to sharpen their focus on the 2024 holiday shopping season.
Marketers who’ve already done a deeper dive know this about this year’s holiday shopping period: There are five fewer days to shop this year compared to an extended period a year ago, which makes hitting customers with the right messages at the right time essential.
The National Retail Federation (NRF) this week released its 2024 winter holiday season forecast for what it calls “core retail,” which excludes seasonal spending on motor vehicles and parts stores, gasoline stations and food service. It predicts consumers’ spending in November and December otherwise will rise 2.5% to 3.5% compared to the same period a year ago — striking an all-time high of $979.5 billion to $989 billion.
That nearly a trillion dollars in spending compares to $955.6 billion spent this time last year.
“The compressed holiday season makes each and every day from now until Christmas Eve critical,” Pamela N. Danziger, a senior contributor who specializes in retail, recently wrote for Forbes.
“While the NRF reports that about 45% of consumers plan to start holiday shopping before November, one wonders if shoppers are aware they will have five fewer shopping days after Thanksgiving this year. Retailers would do well to remind them because their daily sales will need a boost to make up for the five-day shortfall.”
What to Expect During This Year’s ‘BFCM’
Shopify, meanwhile, has released these insights into what it dubs “BFCM,” or the period between Black Friday and Cyber Monday:
Black Friday: Last Friday in November
The day after Thanksgiving in the United States “needs no special introduction,” Shopify simply notes.
“In the US, 70% of people shop in-store on Black Friday — more than any other day of the Thanksgiving weekend. Buyers seek Black Friday deals both in brick-and-mortar stores and online … to truly capitalize on BFCM, merchants need to meet holiday consumers’ expectations for shopping experiences that marry online and physical touchpoints.”
Small Business Saturday: Last Saturday in November
Started by American Express in 2010, the mission of Small Business Saturday is highlighting smaller businesses and their owners and encouraging shoppers to support local businesses. In 2022, the last year for which figures are available, the day generated nearly $18 billion in sales for smaller enterprises.
“Draw attention to the fact that you’re a small business owner by sharing the story of why and how you started your business and your mission or values,” Shopify advises on its platform.
“You can also run a Small Business Saturday special offer to drive foot traffic, awareness, and boost sales.”
Forbes, meanwhile, offers tips of its own for this day in a recent post titled “5 Ways to Market Your Business on Small Business Saturday.”
Cyber Monday: Monday after Thanksgiving
Shopify calls this day “Black Friday’s sister shopping holiday.”
Big retailers such as Amazon, Target, Walmart and Best Buy are major beneficiaries that heavily focus their marketing efforts for this BFCM day, but, as Shopify notes:
“With attractive discounts and flexible shopping options, your store can scoop its portion of the huge global spend on Cyber Monday,” which, in 2023, accumulated $12.4 billion in sales.
Super Saturday: Last Saturday Before Christmas Day
Beyond BFCM, December shoppers are “in a mid-Christmas rush, hunting for gift ideas, discounts and gift wrapping — the convenience of getting everything done in one place instantly,” Shopify notes about this hectic yet spirit-filled day.
“This is the advantage Super Saturday gives brick-and-mortar stores over an ecommerce business, and a great date to plan for and prepare your staffing, store layout and promotions.”
