The holiday season is fast approaching. With Thanksgiving, Black Friday and Christmas around the corner, brands need to ramp up their digital advertising efforts to capture the attention of shoppers during this highly competitive time.
While concerns about Covid-19 have waned, consumers are now coping with inflationary pressures and the rising cost of living. In this tough economic climate, people will be looking for ways to stretch their holiday budgets — which comes in at $500 for 55% of U.S. gift shoppers1. Brands can expect consumers to be more mindful of how they spend their money and more likely to comparison shop as they look for deals.
Despite the economic uncertainty, worldwide e-commerce sales are forecasted to grow by 12.8% to 14.3% YOY up to $5.5 trillion this holiday season2. In the United States alone, sales will hit $260-264 billion between November 2022 and January 20233.
To prepare for the shift in consumer behavior and optimize ad spending, brands can leverage audience data to enhance their targeting to holiday consumers through digital channels — and put them in a position to make a purchase. In this blog, we'll explore how to boost engagement and drive holiday sales with our data-driven approach to campaign targeting.
Audience data is paramount to advertising success. Audience data allows you to be more precise with your audience targeting, and in turn be more effective with your campaigns.
Eyeota is the global provider of addressable audience data for digital targeting. We fuse demographic, interest, past-purchase and lifestyle signals to create robust audience profiles that help brands to identify, reach and engage their best customer through programmatic and social channels.
Download our Holiday Playbook to discover addressable audience profiles to target your ideal customers this festive season, such as:
Shopping often becomes part of a celebration, whether that means buying gifts for family members, stocking up on food to share with guests or picking out seasonal decorations.
That means advertisers can target consumers who are already in the mindset of spending money. For example, winter holidays such as Thanksgiving, Christmas, Hanukkah, and the Chinese New Year are a great time for CPG companies to target cooking enthusiasts and party planners looking to stock up on ingredients or supplies.
In 2022, 16% more buyers are shifting to digital marketplaces, while traditional brick-and-mortar stores will only see a 0.9% growth4. With the capacity for consumers to find the best deals, compare product features and increased payment options — eCommerce stores continue to dominate the holiday shopping season.
What's more, in an attempt to avoid delivery delays and other mishaps, 42% of global consumers will start buying their gifts as early as October and November this year5. This is a great opportunity for department stores, beauty retailers, gift shops and luxury brands to capitalize on the growing demand, especially during Cyber Monday and Black Friday, both of which are expected to be the highest spending days of the year — generating $12.2 billion and $9.91 billion, respectively6.
An abundance of shoppers will fund their gift-giving budgets with digital payment methods. In fact, 32% are predicted to use credit cards, while 25% of consumers are expected to opt for buy now, pay later schemes7.
To respond to these trends, retailers should be prepared to offer consumers a variety of payment options. In addition, brands can target specific audiences looking for discounts or financing options if they have these offers in place.
Airlines, hotels, tour operators, rental car companies and other travel-related brands have reason to be excited about holiday travel. As Covid-19 restrictions have been lifted and the industry picks up, 40% of people have planned to travel during the November - January timeframe8.
That means businesses can target consumers with special offers and promotions, especially for those looking to book last-minute travel.
We're here to help you get started and make this holiday season your most successful one yet!
To guarantee confidence and reassurance, Eyeota audiences are sourced from premium branded data partners and independently audited for quality, transparency and privacy compliance.
Contact our dedicated team at datadesk@eyeota.com to find out more and get additional holiday audience segment ideas.