Holiday Shopping has become a gruesome event these past few years. Ebay has done some research to aid retailers in what is going through the mind of a consumer from the start of November to the middle of January, to help retailers maximize this holiday season. No longer do retailers have to live and die by Black Friday and Cyber Monday – new research shows that they can approach different phases of the holiday shopping season differently to maximize sales and minimize their own stress.
Search, Research, and Study:
November 2-15 – Consumers are on the hunt for gift ideas and are researching all types of options. Most purchases revolve around Holiday decor and party products.
Pull The Trigger:
November 16-December 17 – Consumers are deal hungry. Purchasing peaks in this time so be sure to keep shelves stocked. Timely deliver of product is important, but not the sole decision making factor.
No Deal Left Behind:
December 18-24 – Consumers need products now, so faster delivery times and higher prices are accepted to ensure arrival of gifts before the holidays.
December 25-January 10 – Consumers focused on returns and exchanges, looking for post holiday sales, setting New Year’s resolutions, and looking for ways to hack away at the holiday credit card bill.
It is crucial for retailers to approach the holiday seasons with a strategy that will optimize sales around the most spend happy time of the year, and rather than merely looking at the entirety of the “holiday season,” this approach can help retailers optimize their marketing approaches to fit with the customers’ mindsets, at any given point during the holiday season.