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:
- Shoppers are optimistic about a return to normalcy
As a result, brands can expect consumers to broaden their gift category considerations.
- Household income is on the rise
With less budget angst, brands can expect more impulse and luxury purchase consideration this year.
- Americans are eager to spend
With purchase intent up, we can expect consumers will shop earlier and longer, providing more selling opportunities for brands.
- Online and mobile shopping will continue to dominate the holidays
Engaging shoppers earlier in mobile-friendly environments will inspire impulse purchases and the creation of gift lists on consumers’ phones.
- Black Friday through Cyber Monday is still important
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.
- More than two-thirds of shoppers buy a large variety of products based on influencer recommendations
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.
- Influencers are the #1 driver of purchase decisions on social media
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.
Feature Image Credit: @Just Wanna Design
