Retail trends for 2014 show a growing shift in the timing of holiday marketing campaigns: Specifically, Black Friday marketing strategies are being implemented earlier in the holiday season. This holiday season, shoppers are gearing up earlier than ever, hoping for the best deals they can get their hands on. And marketers are along for the ride: Black Friday marketing strategies have recently turned into “Black Fall” promotions as advertisers shift their holiday marketing campaigns to launch even earlier this year. The good news for brands is that at least a quarter of shoppers welcome those early holiday marketing campaigns because they’ve begun buying holiday gifts earlier.
The biggest shopping days of the year will continue to evolve Thanksgiving week, as retailers respond to consumers’ shopping savvy – particularly that of the Millennial shopper. In fact, many consumers plan to have their shopping done by Black Friday, having researched their purchases long before the holiday season began. In addition, retail trends for 2014 illustrate that 55% of Americans don’t even plan on partaking in the fun on Black Friday this year. As the holiday creep was underway at the beginning of fall, retailers had been offering Black Friday and Cyber Monday deals as early as November 1st, aggressively price-matching and guaranteeing prices to keep up with competitors.
Holiday Marketing Campaigns: What can you expect for the upcoming Thanksgiving shopping weekend?
Despite retail trends in 2014 indicating a behavioral shift in shopping habits, Thanksgiving will continue to be a big shopping day. One in three consumers feels that having stores open on Thanksgiving gives those who work on Black Friday an opportunity to take advantage of the sales, while 22% just want something fun to do once they’ve had their fill of turkey. In fact, 20% of consumers believe that stores offer better deals on Thanksgiving than they do on Black Friday. It seems as though savvy consumers are aware of advertiser’s crafty Black Friday marketing strategies and are willing to adapt in order to get the best deal available.
Millennials will be rushing to the stores (that’s right – to the stores) to score a deal. They know how to research their wish lists and shop around for competitive prices, and will use their digital resources to work the price-matching angle – in-store. In fact, 13% more Millennials will be shopping in-store on Black Friday than older adults, and will manage to spend the least ($268 on average, as opposed to $399 for all shoppers) thanks to their shopping savvy.
Retailers are responding to their smart holiday shoppers by matching prices from other stores as part of an arsenal of Black Friday marketing strategies. Big box retailers like Staples, Toys ‘R’ Us and Target are just a few that have promised to participate, and Walmart will also let shoppers pocket the difference if a product is offered locally at a lower advertised price.
Will you be out taking advantage of your favorite retailer’s holiday marketing campaign this week?
Sources: New York Times, Forbes
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