Black Friday, Small Business Saturday and Cyber Monday are the holy trinity of holiday shopping and the culprits behind many marketing strategies for small business owners.
While the holidays are a time for decking the halls and figgy pudding, it’s also the busiest time of the year for business owners and consumers. Did you know consumer-facing businesses earn 50% of their revenue during the fourth quarter?
Use these holiday marketing statistics to plan your strategy for gaining new customers and growing your small business before Santa comes down the chimney.
Q4 spending this year is expected to reach more than $1 trillion in the U.S. alone, according to eMarketer, which is enough to motivate any small business owner to start their holiday marketing plan early. Connect with customers via social media, email campaigns and any way you can to keep your small business top of mind.
- Electronics & Appliance category, which typically experiences higher-than-average sales growth during the holidays, saw a rise of 6% over 2019. (Mastercard)
- Furniture & Furnishings (+16.2%) and Home Improvements (+14.1%) categories grew the most year-over-year during the period — possibly due to people spending more time at home. (Mastercard)
- Luxury (-21.1%) and Apparel (-19.1%) saw steep declines in retail sales. (Mastercard)
- While online sales increased throughout Thanksgiving weekend, in-store shopping was down, dropping 55% on Thanksgiving Day and 37% on Black Friday. (National Retail Federation)
- Nearly half of shoppers surveyed also started shopping before — and often in place of — in-store doorbusters on Black Friday. This continued through the end of the year, especially online, driving a dramatic 47% increase in ecommerce sales. (AdWeek)
- 3 in 10 (31%) Gen Z and Millennials say they will spend more than they did last year. The study also found that one-third of respondents in these age groups intend to take advantage of holiday sales. (SurveyMonkey)
- Consumer-facing businesses often earn 50% of their annual revenue in Q4. (Small Business Trends)
Building Brand Awareness
Standing out is difficult during the festive season with the saturation of Santa Claus, Frosty and the rest of the holly jolly gang. Use this time to solidify brand awareness and give customers a glimpse of who you are and why it’s important to shop locally with you.
- 77% of loyalty program members will spend more with those retailers during this holiday season. (Clarus Commerce)
- 49% say they are more likely to shop from retailers who send personalized content or offers during the season. (Redpoint Global)
- How a brand reacts during a crisis has been shown to affect customer loyalty. 6 in 10 (57%) would be inspired to shop with a retailer that supported its staff and customers during the pandemic. (Accenture)
- 4 in 10 (41%) won’t shop with retailers that have laid off staff or reduced benefits because of the pandemic. (Accenture)
- 75% of consumers surveyed agree that shopping in-person at a small business brings them joy and drives excitement for the holidays. (Amex Trendex)
- More than half of in-person shoppers surveyed (60%) prefer to shop at local neighborhood stores and a majority (71%) of consumers agree it’s important to support local stores and restaurants. (Vericast)
Multi-Platform Marketing Effort
There’s no shortage of ways to connect with customers as we round out the final months of the year. Your marketing strategy should be a multi-platform attack using various social media outlets, emails, blogs and more. And don’t sleep on the opportunity to spread your digital word-of-mouth through advocates of your small business.
- 49% of tablet and 46% of smartphone social media users like companies that post at least once per week. (Forrester)
- Nearly 8 in 10 consumers said they used at least one Facebook app or service for discovery last holiday season. (AdWeek)
- Nearly all marketers (95%) are concerned with changing health conditions/regulations impacting holiday performance. (Sitecore)
Dazzling Digital Experience
The last two months of the year move faster than Santa’s sleigh across the night sky, and consumers frequently turn to digital means when accomplishing their holiday shopping. Keep up with the hustle and bustle by ensuring your website is fast and accurate, your online scheduling tool is set up for unconventional hours and your digital shopping cart can handle higher demand.
- Shopping via social media is also on the rise, especially among younger consumers. 6 in 10 (61%) businesses expect to see higher engagement and purchases through social media during the holidays. (Bazaarvoice)
- With third-party cookies phasing out, 51% of marketers are increasing the value of discounts and other services offered to consumers in exchange for their data. (Sitecore)
As a small business owner, now is the time to take advantage of the holiday shopping boom and ramp up your marketing efforts. For tips to crafting a winning strategy, check out this Black Friday Marketing Checklist.