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New research helps brands understand the secrets to success this holiday season
While there are signs that the commercial impacts of Covid-19 are improving and the economy is starting to rev again, many brand marketers are faced with how to balance general societal optimism with the ongoing uncertainty of the pandemic’s impact on shopping behaviors this holiday season.
In a study conducted in June 2021 by LTK, the largest creator-powered marketing platform in the world, the company discovered several important insights for brand marketers to consider as they build their end-of-year campaigns.
Overall, adults in the US are feeling more optimistic as they head into the holiday shopping season, with 80 percent planning to spend the same or more on gifts this year compared to last. Nearly 70 percent of adults plan to do most of their shopping online, with the majority expected to be done on their smartphones. Social media influencers were deemed the most trusted advisors on social media and the most influential factor in driving purchase decisions online, above expert reviewers, celebrity endorsements and discount or savings marketing.
LTK’s proprietary research included surveying over 2,000 adults reflective of the US population with 97 percent confidence. Here’s what was found:
As a result, brands can expect consumers to broaden their gift category considerations.
With less budget angst, brands can expect more impulse and luxury purchase consideration this year.
With purchase intent up, we can expect consumers will shop earlier and longer, providing more selling opportunities for brands.
Engaging shoppers earlier in mobile-friendly environments will inspire impulse purchases and the creation of gift lists on consumers’ phones.
Black Friday and Cyber Monday impact the entire holiday shopping calendar, with 45 percent of adults surveyed planning to do the majority of their shopping during the BFCM period. Engaging the right customers at the right time on the right platforms is key, and requires advanced planning.
While beauty and fashion rank as the purchases most positively impacted by influencer recommendations, understanding influencers’ audiences broadens opportunities to sell a variety of products.
With influencers in high demand from consumers and marketers, brands should plan early to ensure first access to this year’s most valuable marketing asset.