Mumbai: As the curtains fall on another year, the world eagerly anticipates the grand spectacle of the holiday shopping season. Beyond the tinsel and festive cheer, this annual ritual is a dynamic battleground where retailers and consumers engage in a dance of trends and preferences. Insights from Taboola Newsroom light up the 2023 holiday shopping season, unveiling a global landscape with unique patterns.
Amidst the glittering lights and cheerful carols, the resounding theme of this year’s festivities is clear: savings take center stage. Taboola’s global data unfolds a narrative where consumers, driven by a world where every penny counts, are on a relentless quest for discounts, budget-friendly options, and lucrative deals as the Taboola Newsroom reveals a surge in consumer interest in keywords such as “Discounts” (up by 131%), “Budget” (up by 27%), and “Deals” (up by 10%).
For retailers, this presents a unique opportunity to craft their marketing strategies around the theme of savings. Promotions, discounts, and budget-friendly offerings are likely to resonate with consumers. Brands that can effectively convey their value proposition in terms of affordability stand to gain a significant advantage in this competitive holiday season.
Early Shopping and Extended Holidays: A New Shopping Landscape
Traditionally, the holiday shopping season used to kick off in earnest on Amazon’s Great Indian Festival Sale and Flipkart’s Big Billion Days. However, in recent years, consumers have been starting their holiday shopping earlier, driven by various factors. In India, the holiday shopping buzz starts during Dussehra and goes on until the New Year. It’s not just about buying things; it’s a time when families celebrate festivals like Diwali and prepare for Christmas. Streets light up, markets get busy, and online shopping becomes exciting. The joy of being together and the festive spirit blend with the thrill of finding the perfect gifts. So, from Dussehra to New Year’s, it’s a season of celebrations and shopping fun in India.
Taboola’s data shows that “holidays” are surging in online interest by 180%. In the past week, certain retailers have harnessed the holiday fervor exceptionally well, experiencing a notable surge in online traffic. The frontrunners in this holiday shopping race include Multi-Category Retailers, boasting a remarkable increase of 26% in clicks. Christmas-themed retailers have witnessed a staggering uptick of 49%, while Gifting sites are not far behind with a solid 14% boost. Additionally, Food & Drink and Travel Accessories have seen respective increases of 11% and an impressive 49%. This surge in interest underscores the global resonance of the holiday season, as consumers around the world gear up for a festive shopping spree like never before.
Weekend Surges and NRF Insights: Adapting to Evolving Holiday Shopping Behavior
Despite retailers pushing out early promotions, the data from Taboola Newsroom suggests that November and December remain robust months for holiday shopping. Data from Skimlinks’ network aligns with the National Retail Federation’s (NRF) 2023 holiday shopping report, indicating that consumers are choosing to extend their holiday shopping over an extended period. This change in shopping behavior has implications for retailers. They need to prepare for an extended shopping season, ensuring that their promotions and inventory are available and relevant throughout this period. Retailers can no longer afford to focus solely on Prime Day and Big Billion Days; they need to capture the attention of consumers over a more extended time frame.
Navigating the Landscape and Unwrapping Success
In this dynamic and ever-evolving holiday shopping landscape, it becomes evident that consumers prioritize savings, early shopping, and an extended buying period. For retailers globally, this signals a call to action – a strategic alignment with these insights becomes imperative for a successful holiday season.
The data shared by Taboola Newsroom provides a comprehensive roadmap to navigate the intricacies of the 2023 holiday shopping season. Savvy retailers will recognize the profound significance of savings in shaping consumer choices, expanding their reach to tap into the global market, and gearing up for an extended holiday shopping season that transcends traditional boundaries.
