2023 Holiday Season Insights

With the Holiday Season fast approaching, shoppers are getting ready to chase deals to get great value for the money spent. Traditionally deal seeking was associated with the peak deal period from Black Friday to Cyber Monday (BFCM) or Cyber 5. A trend in consumer behaviour indicates shoppers are starting to make purchases earlier in the season, purchasing more, and extending their shopping window well beyond Cyber 5. 

Consumer behaviour Insights reveal it’s now become an ‘always-on mindset’ for consumers from October through December. With ad platforms and our own AI-powered solutions, TRIBBUTE can bring more predictability to your Holiday Season Planning!

What we  learned from 2022

Source: Google Internal Data, MasterCard Spending Pulse 2022, Mastercard Spending Pulse 2023

Consumer Insights from 2022 and what they mean for businesses

• Deal seekers today are far savvier than ever before. They are engaged with your brand throughout the year and use tools and platforms like Google Search and YouTube to plan, research, and take the plunge when the offer is right. some text
  • This means businesses have a longer opportunity to connect with deal seekers than ever before. Consider starting promotions early and ending late to maximize this window of opportunity!

• “Deal-seeking” is NOT  impulsive. Research shows that only 26% of holiday purchasers could be categorized as impulsive during the week of Cyber 5 in 2022.  Additionally, 50% of shoppers were still shopping in Dec, and post-Dec 25 was as active as the weeks before and after Cyber 5! some text
  • Stand out to deal seekers and target that ‘determined shopping mindset’ - (shoppers with a lot to do, in very little time). TRIBBUTE can experiment with Performance Max Campaigns to improve the predictability of consumer behaviour. AI-powered solutions such as Broad Match Search and Video Action Campaigns

• Every shopper is an omni shopper. Omni-channel shoppers are 2x more valuable than single-channel shoppers. some text
  • Talk to us about experimenting with that omnichannel traffic and how you can optimize online and in-store sales through local product inventory ads. 

• A fair percentage of shoppers are open and undecided and will switch to an ever-present and communicating brand. some text
  • Experiment with AI-powered tools like the fresh out of Beta Demand Gen campaign to reach those undecided shoppers in their discovery phase. 

Source: 1. Google/Ipsos, Holiday Shopping Study online survey, Canadians 18+, n=309, Oct 2022-Jan 2023 2. Google/BCG, Holiday Spending Analysis, Analysis of US Mastercard Credit Card Data 2022 3. Google/Ipsos, Holiday Shopping Study, online survey, Americans 18+ who conducted holiday shopping activities in past two days, n=8,467. Oct. 2022–Jan. 2023. 4. Harvard Business Review, 2021, Google trends, Global English, Mar-Apr, 2022 vs. Jan-Feb, 2020 5.Google/Talk Shoppe, Canada, whyVideo 2022 study, n=2,000 A18-64 GenPop video users 6. Google commissioned Canada research conducted by The Behavioural Architects and Savanta; 2022; Based on 120,000 conjoint Search simulations. Data shown here is for the outerwear category. Similar results across 15 categories.

As always, we love to hear your thoughts, questions, and insights.

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