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Holiday 2023 marketing strategies should adapt to a value-oriented environment
Total retail sales growth will remain in mid-single digits. Overall retail spending will rise 4.5% to $1.328 trillion for the 2023 holiday season.
Retailers and brands will need to acquire 2023 holiday shoppers more cost-effectively and give them reasons to spend. By confidently investing in fast-emerging growth marketing opportunities now, they can gain a competitive edge by holiday time.
- Drive mobile app adoption with branding campaigns promoting exclusive benefits. Apps are the connective tissue for cross-channel shopping journeys that drive loyalty. Apple’s disruption of the mobile app install market should compel retailers to try different marketing tactics to drive adoption.
- Experiment with TikTok marketing to ride the social commerce trend. TikTok is the primary reason we expect social commerce to grow by 29.8% this year. Lifestyle and consumer brands should run paid and organic campaigns to figure out the algorithm, maximize reach, and drive conversions. Adopting a holiday wish list strategy could be another key to riding the #TikTokMadeMeBuyIt trend.
- Invest in retail media-powered connected TV (CTV) campaigns. Brands benefit from ad-supported CTV inventory powered by retail media networks like Amazon Ads and Walmart Connect. Knowing how to efficiently reach the right shoppers with these high-impact ads—and subsequently retarget them with digital ads—can produce outsize gains in holiday conversions.
- Expand buy now, pay later (BNPL) to physical stores. Cash-strapped consumers will look for ways to stretch their dollars during the holidays. These shoppers will be ready to use BNPL at brick-and-mortar locations, meaning retailers can capture incremental purchases by providing in-store payment alternatives. The introduction of Apple Pay Later is likely to accelerate this trend, given Apple Pay’s widening adoption in physical retail.
As the holiday marketing landscape shifts towards a value-oriented environment, businesses must adapt to new strategies to capitalize on the projected 4.5% increase in overall retail spending during the 2023 season. Collaborating with a digital marketing agency becomes instrumental in navigating this dynamic shift. These agencies specialize in crafting online campaigns that resonate with value-conscious consumers, leveraging digital platforms to maximize visibility and engagement. By partnering with a digital marketing agency, businesses can ensure their holiday marketing strategies align with the evolving consumer mindset, tapping into the mid-single digits growth in retail sales and optimizing opportunities for success in the festive season. https://metawebwork.io/
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