Ecommerce Facts to Consider for Your Holiday Marketing
Chances are, you are in the midst of your holiday marketing planning. It’s likely you are factoring in aspects of the changing retail and ecommerce landscape along with key trends. We’ve rounded up a collection of data points, facts, and trends to help to paint a picture of the upcoming holiday season so that you can position your brand for growth and sales success.
The outlook for ecommerce brands is bright. Although in-store shopping is more of an option this year, eMarketer predicts that ecommerce will comprise 18.9% of total holiday retail sales, up from 17.5% during the 2020 holiday season. The flip side is that competition for customers and holiday purchases is fiercer than ever. This might be the year to test some advanced tactics, like advanced, A.I.-enabled email segmentation.
Let’s look at ecommerce as a whole, and then get into the nitty-gritty insights and ideas to inform your holiday planning.
Soaring Digital Adoption Is Driving Ecommerce
Consider this: by 2040, around 95% of all purchases are expected to be via ecommerce. In addition, there are over 2 billion digital customers worldwide.
- Fashion ecommerce has grown steadily since 2003 and in 2020 it accounted for roughly 29.5 percent of the total fashion retail sales in the United States.
- The chart below shows that the average amount spent on gifts and non-gift items is expected to hold steady despite more spending on experiences.
A Multichannel Approach to Holiday Marketing Planning
Think of all your possible customer touchpoints, everything from your mobile app to your chatbot, email marketing, SMS and more. Each of those channels presents an opportunity to engage and delight your customers this holiday season. According to The Wharton School, 66% of online shoppers frequent more than one channel to make purchases.
How can you strengthen the cohesiveness of your marketing and best leverage your holiday marketing content and offers across channels? This can be tricky because multichannel marketing can be frustrating for customers if it’s not done well.
These numbers speak for themselves, and you’ll see why it’s important to put yourself in your customer’s shoes and provide a top-notch mobile experience.
- Mobile retail commerce sales are projected to make up more than half of total retail ecommerce sales in 2021. (Source: Statista)
- Almost three out of every four dollars spent on online purchases today is done through a mobile device.
- Social shopping continues to grow, with TikTok and Instagram leading the way.
- eMarketer predicts that US social shopping will rise by 34.8% in 2021, reaching $36.09 billion.
- Roughly 55% of Gen Z users said that their clothing purchases were influenced by social media posts.
- In 2019, emails claimed 24% of sales (Source: Shopify).
- Marketers segmenting their campaigns see as much as a 760% increase in revenue. (Campaign Monitor, 2019)
Customer Experience and Behavior
Savvy brands are studying how consumer behaviors and expectations are changing. They are also making decisions as to where to invest so that they can continue to add new capabilities and value to the customer experience. For example, brands are grasping the need to provide highly personalized experiences and product recommendations.
Last year we saw an early, extended holiday shopping season. This year shoppers are worried about supply chain issues and will likely kickstart their holiday shopping weeks earlier. The early bird gets the worm, and you might want to consider starting your holiday marketing earlier.
Take a cue from Amazon. They held a three-week beauty sale in October in an attempt to snag holiday sales ahead of Cyber Monday. Half (49%) of holiday shoppers will start browsing and buying before November, a 7% increase over 2020. (Source: NRF)
Poised and Ready for Holiday Marketing Planning
Times are changing, in challenging and exciting ways for ecommerce brands. Keeping tabs on key trends and changes can help you grow your sales and customer retention during the holiday season and all year long.
ReSci is a team of marketers and data scientists on a mission to democratize AI. We make powerful recommendations and predictions accessible to brands.
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