The lead-up to the holidays and the New Year is the biggest time of year for retailers. The game is on and to win, retailers need to score big. Consumer shopping habits have changed rather significantly in the past decade however. More are flooding to online products and e-commerce to shop. To better understand where there’s opportunity to market and succeed in the 2017-2018 holiday season, here are three ways in which retailers are going to need to make a change.
Traditions in Holiday Shopping Patterns are out the Window
Holiday shopping in 2017 is not the same as holiday shopping in 2007 so don’t assume it will be. Many shoppers choose to research and begin purchasing even before Black Friday. As early as October, some companies are already seeing notable rises in purchasing likely related to the holidays. Consumer electronics is one area where this has happened these last few years.
That said, categories like toys and games are still holding strong according to traditional holiday shopping standards. As toys and games’ purchasing spikes are set closer to the final weekend prior to Christmas, other categories are seeing their inventory unload long before. Depending on what category a retailer is in, they may need to change when and how they plan out their holiday marketing strategy.