The 2023 holiday season is fast approaching, and many businesses and retailers are wondering how Creator collaborations can increase their brand recognition and improve sales.
One thing is clear: Convenience is king.
More consumers are turning to online and mobile shopping to make purchases for friends and family during the holidays. Consumers also plan to start shopping for the holidays even earlier than last year. Thirty-eight percent of the general population say they’ll begin making purchases in September, while 45 percent of Creator shoppers plan to start at the same time.
In the retail space, reliance on Creator commerce has dramatically grown. Thousands of new Creators are flocking to the LTK platform each month, and LTK has experienced a double-digit increase in brand campaign spending during the first half of 2023.
How can your brand seize an early opportunity to connect with the right Creators for the upcoming surge in holiday shopping? Let’s dig into holiday shopping trends and influencer marketing strategies to make the season bright.
According to an LTK holiday shopper survey of more than 1,000 participants, Creators continue to be the most trusted source of inspiration for holiday shopping trends, especially among Gen Zers and millennials. Seventy-three percent of Gen Zers have made purchases based on influencer recommendations, along with 68 percent of millennials and 57 percent of the general population.
Overall, U.S. shoppers are expected to spend a total of $129.24 billion during holiday shopping, an increase of 15.4 percent from 2022. At the same time, as the U.S. economy is experiencing inflationary times, individual shoppers are looking for creative ways to save money this holiday season. Compared to last year, more consumers plan to shop Black Friday and Cyber Monday sales to save money. Forty-two percent of the general population plan to take advantage of Black Friday and Cyber Monday sales, and 62 percent of LTK shoppers plan to do the same.
Price is the most important factor shoppers consider before making a purchase, followed by quality, convenience, availability, and brand. However, LTK shoppers tend to choose quality over price.
Developing an impactful influencer marketing campaign can motivate shoppers to make last-minute purchases and use wish lists to do their holiday buying, especially when it comes to millennials and Gen Zers. And because spending less is a priority for a majority of consumers this year, it can be helpful to promote special deals or discounts.
Last year, 61 percent of consumers said they also planned to purchase gifts for themselves during the holiday season. This trend is likely to continue in 2023, so businesses should start prioritizing Creator collaborations (product launches and promotional campaigns) as soon as possible.
Creator-driven holiday content can have a major impact on consumer behavior, from discovery to purchase. For holiday shopping inspiration, buyers prefer browsing Instagram, Facebook, YouTube, Pinterest, and TikTok.
This year, we recommend taking a holistic approach to Creator collaborations. This strategy will drive consistent growth year-over-year with full-funnel results. Hosting live events, developing campaign content, and promoting influencer gift hauls will help increase organic engagement.
In fact, Gen Z and millennials rank gift hauls and guides as the most preferred type of holiday content to watch, and more of them are turning to the LTK app to find products they’re looking for. Some of the top holiday-related in-app search terms include:
Sixty-one percent of Gen Zers plan to use gift guides for holiday shopping, and 64 percent of millennials plan to do the same. Meanwhile, 65 percent of consumers who turn to LTK for holiday inspiration plan to shop with Creator gift guides, which outranked gift guides created by online publications and media outlets.
How can you incorporate influencer marketing into your brand’s holiday marketing plan? Take the following steps:
The holiday season is one of the busiest shopping seasons of the year, so creating the right influencer marketing campaign can help take your brand to the next level.
LTK works with more than 6,000 brands and hundreds of thousands of Creators across more than 150 countries. With more than 30 million monthly shoppers, LTK provides highly trackable sales and influencer marketing programs at scale for businesses of all sizes. Contact us to get started!