Holiday Traditions Revamp: 7 Significant Trends Shaping the Upcoming Festive Season This Year
Get ready to ring in the holiday cheer with this year's shopping season gearing up! Here's a juicy lowdown on the 2023 retail trends that are set to engulf our festive spending, thanks to Vericast's latest TrendWatch report.
- Wallet Widening, Just a Tad Carefully
If you thought the last holiday season was special, wait until you see this year's numbers. The TrendWatch indicates that consumers are planning to loosen up their purse strings a bit for the upcoming festivities. However, there's a notable dip in those folks trying to pinch pennies compared to 2022.
- Festive Feasts - Dining Out or Kitchen Cooking?
Holiday meals are all about going big or going home, but the way we dine is evolving. More people are relishing the idea of dining out for these celebratory soirees. Key trends indicate:
- Millennial Mayhem: More millennial parents are opting for restaurant feasts instead of feasting at home.
- Community Connections: Supporting local eateries is on the rise, fostering a sense of neighborhood camaraderie.
- The New Rules of Holiday Shopping
The hunt for holiday discounts is shedding its traditional coat. A sizeable chunk of consumers (51%) are now shopping for the festive season throughout the year, while many are opting to purchase gifts (55%) as they come across them, moving away from the age-old method of waiting for specific shopping days.
- Brand Loyalty, Redefined
Brand loyalty is experiencing a shake-up, with consumer faith waning. Yet, chances for redemption are within reach. Brands that offer personalized experiences can win back trust. This shift reflects recent uncertainties and a shift toward value-driven choices.
- The Black Friday Resurgence - A Nostalgic Rebirth
While online shopping reigns supreme, young demographics, particularly 74% of Gen Z, 64% of millennials, and 69% of parents, with a whopping 75% of millennial parents, have a clear longing for the traditional in-store Black Friday shopping frenzy. This suggests that the chaotic, yet charming, brick-and-mortar shopping experience continues to captivate consumers.
- Brick-and-Mortar's Sensory Allure
Even with cutting-edge tech at our fingertips, good ol' fashioned in-store shopping still tickles the senses in several ways:
- Touchy-Feely Affection: There's a strong preference for physically trying on goods.
- Sweet Temptations: In-store samples continue to tantalize taste buds.
- Personal Touch: Nothing beats personalized, face-to-face service.
- Exclusive Offers: Special deals reserved exclusively for shoppers who ditch their comfy couches are too good to pass up.
- A Balancing Act - Celebrating and Cutting Costs
As the holiday spirit reaches a crescendo, consumers will be juggling celebration with savings, using a variety of methods:
- Scratch-and-Save: Coupons via mail or newspapers remain top sources for holiday shopping deals.
- Inbox Alert: Many buyers keep a close eye on their inboxes for the latest offers.
- Internet Goldmine: Online coupons or discounts will continue to be hunted relentlessly.
- Classic Ad Shows: Traditional TV advertisements haven't lost their charm, with many shoppers still relying on them to discover holiday deals.
- Print's Persistence: Catalogs and print ads delivered via mail or newspaper are still powerful persuaders.
These trends suggest that a multi-pronged approach is essential for retailers to appeal to shoppers during the festive season. Offering value is crucial to securing customer loyalty. Vericast is a trailblazer in comprehending industry shifts and consumer trends. As a guiding light in this ever-evolving market, Vericast aims to enrich holiday marketing strategies, ensuring they resonate deeply with target audiences.
So there you have it - the top trends shaping this year's holiday shopping landscape! Armed with these insights, you can craft holiday campaigns that not only keep pace with the times but also truly connect with consumers. Don't lag behind, stay informed, and embrace the joyous return to the holiday season with the 2023 Retail TrendWatch, "A Joyful Return to the Holiday Spirit."
- Consumers are planning to spend a bit more during the 2023 holiday season, but there's a notable decrease in those trying to save money compared to the previous year.
- Holiday meals are transforming as more people prefer dining out during festive celebrations, with trends including supporting local eateries and opting for restaurant feasts instead of home-cooked meals.
- A substantial number of consumers are shopping for the holiday season throughout the year, and many are purchasing gifts as they come across them, moving away from traditional shopping days.
- Brand loyalty is shifting, with consumers seeking personalized experiences to regain trust in brands. This change reflects recent uncertainties and a shift toward value-driven choices.
- Young demographics, particularly Gen Z and millennials, show a strong desire for the traditional in-store Black Friday shopping experience, despite online shopping's popularity. In-store shopping still offers a sensory allure with advantages such as trying on goods, in-store samples, personalized service, exclusive deals, and a variety of savings methods.
