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How Brands can Prepare for the Shorter Holiday Shopping Season in 2024

How Brands can Prepare for the Shorter Holiday Shopping Season in 2024

Jai Khan
September 4, 2024
Marketing
introduction

As the 2024 holiday shopping season approaches, e-commerce brands face unique challenges, including a shorter shopping window and evolving consumer behaviours.

Our Senior E-commerce account manager, Nikos, attended Google’s recent "Retail-Ready" event to gather key insights and practical strategies for brands to stay competitive during this critical period.

In this article, we’ll explore the economic factors, shifting consumer priorities, and how AI and omni-channel tactics can help brands thrive in Q4 2024. Read on to discover how your brand can stand out, adapt to market dynamics, and make the most of the shortened shopping season.

Understanding the Economic Challenges in Q4 2024

While there is some good news on the economic front, with slight GDP growth and a decrease in inflation, the shadow of financial stress from previous years still looms large. This lingering stress is likely to impact consumer spending habits, making shoppers more cautious and value-driven.

Additionally, the 2024 holiday shopping season is set to be one of the shortest in recent years, with five fewer shopping days in November compared to 2023.

This truncated season will intensify competition, with brands vying for consumer attention and dollars in a shorter timeframe. Planning and executing timely campaigns will be essential for brands to make the most of this compressed shopping period.

Consumer Behaviour: Value and Personalisation Take Center Stage

Consumers are increasingly prioritising value and better deals compared to last year, alongside personalised experiences in their shopping journeys. With advancements in AI driving more product-focused and question-based search queries, brands must ensure they’re visible during key moments of discovery.

Flexible payment solutions, such as subscription models and buy-now-pay-later options, are gaining traction and should be incorporated into offerings to meet evolving consumer expectations.

Brands that can effectively reach new consumers through innovative discovery strategies are poised to capture a larger market share. The rise of generic searches over branded ones in Q4 underlines the importance of being visible to consumers who may not yet be familiar with your brand but are actively looking for the right product.

December Shopping Surge and What to Expect in 2025

With November 2024 being the shortest shopping season since 2019 (as Black Friday will fall on November 30th), the bulk of holiday spending is expected to shift to December. However, brands should also anticipate an early surge in sales due to the rising popularity of 'Fake Friday' promotions in November, which are expected to pick up this year.

Brands that stand out with a strong, differentiated approach will have the opportunity to capture consumer interest during both these key shopping moments.

Timing is Key for Luxury and Beauty Brands

In the luxury and beauty sectors, timing is everything when it comes to maximising sales. Understanding the peak shopping times for different product categories will help brands better plan their marketing and inventory strategies.

Here’s what to expect for specific luxury products:

  • Handbags: October
  • Watches: October
  • Shirts and Polos: Mid-November
  • Scarves and Wallets: December
  • Perfumes: December
  • Jewellery: December
  • Dresses: January

Brand desirability remains a critical factor driving luxury purchases, with household income continuing to play a key role in influencing click share. Despite economic challenges, gifting behaviour in the luxury market is expected to remain strong.

Brands that position their products as the perfect holiday gifts will be well-placed to capitalise on this trend.

Strategies for Brands to Succeed in a Shorter Shopping Season

To win during the holiday season, brands need to differentiate themselves and stay ahead of the competition. Here’s how:

  1. Differentiate Beyond Promotions
    In a crowded market, brands need to focus on unique value propositions and curated experiences, rather than relying solely on discounts.
  2. Leverage AI and Data Analytics
    Optimising marketing strategies through AI and data analytics can help brands gain a competitive edge by better understanding consumer behaviour and predicting trends.
  3. Embrace Omni-channel
    Providing a seamless shopping experience across all channels is essential for capturing and retaining customers in today’s market.
  4. Prioritise Discovery
    With generic searches increasing, it's vital to ensure your brand is discoverable during the top-of-funnel phase from mid-September to October. Focus on tailored content and targeted ads to reach potential customers. As your brand peaks in November with Black Friday, shift towards conversion strategies and sustain momentum through Christmas in December. In January, leverage remarketing to engage returning buyers.
  5. Adapt to Changing Consumer Preferences
    Address the value-driven demands of today’s consumers by offering flexible payment options and emphasising the long-term value of your products.
  6. Leverage Luxury Insights
    Use insights on peak shopping times for specific product categories to optimise your marketing and inventory planning.
  7. Stay Ahead of Trends
    Monitoring emerging trends and adjusting your strategies in real-time will be key to maintaining a competitive edge.

A Shifting Holiday Landscape

One trend that stands out for 2024 is the anticipated rise in Christmas shopping compared to Black Friday. While the shorter November shopping period is one factor, we’re also seeing a shift in consumer behaviour, with more shoppers waiting until December to make their purchases.

The festive atmosphere of Christmas shopping appears to be winning over the rush of Black Friday, a trend that was also observed last year.

For brands, this means reallocating resources and marketing efforts to focus more on the December shopping period. Being agile and responsive will be key in capitalising on this shift.

Conclusion

Q4 2024 presents both challenges and opportunities for luxury and beauty brands. By staying on top of the latest trends, leveraging technology, and focusing on evolving consumer needs, brands can navigate this competitive landscape and succeed.

With the holiday season fast approaching, agility and a consumer-first approach will be critical for capturing market share and driving growth.

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