1. The holiday season is starting even earlier this year! (Huge shocker…)
2. Streaming TV is establishing itself as a powerhouse in holiday advertising in 2024 as shoppers are streaming more than ever.
3. Mobile shopping is ringing in the season as the new holiday MVP.
We’re coming into 2024 holiday shopping hot! We forecast that total retail sales for the 2024 holiday season will reach $1.372 trillion, growing 4.8% YoY. This growth shows how excited shoppers are and how much they’re ready to spend, making the 2024 holiday season a huge opportunity for retailers to boost their sales.
That said, it looks like another year, another booming holiday season, and another early dash at grabbing toys before the snow has begun to fall. Let’s break down the trends we will see in the 2024 holiday season and how they can help enhance your advertisers’ campaigns.
The Early Bird Gets the Most Holiday Shoppers… Again
Attention all holiday shoppers: If you haven’t started your holiday shopping yet, you may already be falling behind this year. Don’t stress too much, but 50% of shoppers are now holiday shopping before November. It’s even predicted that by 2026, 30% of consumers will shop for holiday gifts year-round. Think Amazon Prime Day. Talk about the early bird gets the worm!
So, what can you do to make sure you get attention from these early holiday shoppers? Advertisers need to be aware of this earlier buying season and hit the ground running with their holiday campaigns before November hits. In addition, retailers should consider more frequent promotions throughout the year to attract price-sensitive consumers looking to spread their spending across a longer stretch of time.
Streaming TV Takes the Holiday Advertising Lead
Streaming TV advertising spend has soared this year and will be in full swing for the holiday season.
But, why Streaming TV in 2024? Because that’s where everyone is watching.
US adults now spend an average of 1:51 hours per day watching Streaming TV. According to eMarketer the convenience of streaming your favorite shows and newly released holiday movies from the comfort of your own home has widely spread in recent years, slowly pushing out linear TV and its shortcomings. In fact, 75% of Americans are planning to cut the cord by 2025, and advertisers are noticing. Unlike traditional TV (and its advertising), streaming platforms allow for more targeting, enabling advertisers to deliver personalized messages to more specific demographics than ever before. This precision targeting is particularly valuable during the holiday season, as it allows marketers to tailor their campaigns to align with the preferences and behaviors of different audience segments.
Given the rise in cord-cutting and the increasing dominance of streaming platforms, integrating streaming TV into a holiday marketing mix is not just a trend—it’s a strategic necessity, especially with viewership peaking in Q4 as families tune in for their favorite holiday films.
Mobile Shopping: The New Holiday MVP
For the first time ever, mobile devices led digital holiday sales revenue in 2023, claiming 50%, with desktop and other devices falling just behind. . As this trend is expected to continue in 2024, mobile advertising has become a crucial element in holiday campaigns.
Consumers are increasingly shopping on smaller screens, with the first half of 2024 witnessing steady double-digit growth in mobile spending. Between January and July, mobile device spending surged by 10.2% year-over-year, reaching $280.4 billion worldwide During those seven months, mobile sales accounted for nearly half (47.7%) of all online sales, up from 46.6% the previous year. There is definitely a “tipping point” with mobile shopping that we are beginning to see on the horizon, but why?
This surge in mobile spending is manifesting because consumers are spending an increasing amount of time on their mobile phones—3 hours per day in 2024 (eMarketer)—and spending more money as a result. That, combined with the rise of apps such as Temu and social commerce on channels like TikTok, means m-commerce will remain a lucrative revenue-driver for retailers.
Marketers are taking advantage of this shift by enhancing the holiday shopping experience with mobile-friendly messages and promotions. Mobile shoppers are increasingly turning to social media for holiday gift inspiration, seamlessly linking their browsing to their shopping lists. A Shopify survey revealed that 33% of consumers are likely to shop directly from Instagram, 31% from Facebook, and 28% from TikTok (Simpli.fi).
Only 120 Days to Go, Here’s What Your Advertisers Need:
The clock is ticking. Here are our three steps to a successful holiday advertising season.
- Get your pitch email loaded into your CRM
- Use the tried and true method of emailing, then leave a voicemail for your regular holiday advertisers asking for a call, zoom, or in-person meeting NOW.
- One-call close every meeting focusing on print + digital to help ensure your advertiser is top-of-mind with their key holiday shoppers throughout the season.
Walmart and Costco are decked for the holidays. Make sure your sales calendar is, too!