Gaining Your “Fair” Share of Holiday Shopping Revenue
July 29, 2020
In a time where phrases like “the world is forever changed,” “the new normal,” or “now more than ever” are used as freely as disposable masks, the advertising space has been filled with analogous messages of unity, brand trust, and addressing the current state of the world amid a global pandemic. Understanding what type of messaging will work to drive consumers to your brand may be the difference between ending the year in the red or black.
Into the Unknown
Despite the current national discussion about when and how to re-open schools this fall, and with only two-thirds of those with school-aged children planning on making back to school purchases, it is critical for back to school campaigns to get their message across and connect with the right shoppers. For this reason, we are analyzing these campaigns in real-time to understand which ones and what messages are resonating with their targeted consumer audience. These learnings can be a great starting point in developing your holiday messaging, creatives, and campaigns.
While overall Holiday spending plans are down, there is still a significant amount of revenue to go after. From our recent Special Report on 2020 Holiday Spending, we have found that:
- A majority of consumers (88%) are planning to spend the same or less than they did last year, versus only 12% planning to spend more
- The purchase of multiple big-ticket items this holiday season is unlikely for households earning under $100K, given an anticipated spending limit of $500 for most consumers.
- Among shoppers who plan to spend more this holiday season (12% of all consumers), one-third anticipate making a majority of their purchases at a “Big Box” store.
- Regardless of household income, consumers plan to make a majority of their holiday purchases online this year.
- COVID-19 has changed what’s important to about one-in-four consumers when considering where they will shop retail. Just over half consider these changes permanent.
- Beyond fair pricing and value, consumers expect an overall positive experience with the brand, and for the products, they need to be available.
Clear Messaging in a Hazy Climate
Moving into the busiest shopping season of the year in the midst of a global pandemic means consumers’ attention is going to be short and budgets tight. With competition among retailers higher than usual, brands will need to have crisp, clear messaging that connects directly with consumers as they start to make post-pandemic purchase decisions. Take time to plan your advertising strategy; if you hit it right and your ads communicate the right message to consumers, your strategy will take you into the upcoming holiday shopping season and beyond.
To download the full report, please click here.
Phoenix can help maximize your advertising and bring your campaign to success regardless of where you are in your advertising cycle. For your currently running back to school ads, Phoenix Brand Effect is the gold standard for in-market performance and can provide real-world, real-time, in-flight ad measurement to help you establish a baseline for future campaigns.
When you are ready to start developing your holiday advertising, our AdPi framework can provide best-in-class copy testing and premarket measurement to help you build and optimize your creative. A creative check at-launch uses the same category-specific diagnostic models as pre-launch copy testing and will give you insight into how your ads will perform in-market.Back to Explore