As the weather's heating up and the sun here to stay (we hope), we've put together some predictions for what shopping could like over the holiday season for 2023. Read on to get an idea of what's in the cards for your kiwi business these holidays.
While inflation is beginning to ease and we’re technically out of a recession, consumers are still expected to be shopping less. For kiwi businesses, this means giving your customers a reason to shop with you over your competitors. Think personalised experiences, top-notch customer service, free gift wrapping, and hassle-free returns – these are your secret sauce to win over cautious shoppers this holiday.
With the consumers taking it easy, you can expect your customers to be on the hunt for discounts this holiday season. If you're looking to lure in cost-conscious customers, deals are your go-to option. While it may mean sacrificing some margin and profitability, discounts are crucial to meeting customers needs this season.
For kiwi businesses that are looking to buffer or maintain their margin, slashing prices isn’t the only way to go. Think about offering bundled value packs, the tips we mentioned earlier, or even rolling out stunt pricing on a small selection of items to reel in your customers.
After years of online shopping and click-and-collect fever, 2022 saw a 3.9% boost in in-store holiday spending. It's a sign – folks are rediscovering the charm of brick-and-mortar shopping. So, for small businesses, it's time to jazz up your in-store game. Offer a delightful shopping experience, go the extra mile with customer service, and maybe cook up exclusive in-store-only promos to lure customers through your door.
A survey by Google found that by mid-October, shoppers globally had already bagged 21% of their holiday shopping. The game's changing, with sales starting earlier than ever and many shoppers taking advantage of these sales and planning their shopping around them - whether that's for themselves or others. In the future, it might be worth adjusting your best discounts and offers to match these time frames and catch shoppers when they're in a spending mood.
Remember the wave of support for small businesses in 2020 and 2021? Well, it's alive and kicking, with 72% of shoppers shopping locally online in the first quarter of 2023. To get their attention, dial up your digital presence as Christmas draws near. Consider investing more in digital ads, like Google Search and Shopping, or social ads across Facebook and Instagram to win over and attract your customers.
Many customers are now shopping in store after seeing a product in their social feed, with traffic referrals from social media growing 27% year over year. With Social Media driving traffic in store, now’s the time to make your social media accounts work for you. Flaunt your products, tease upcoming stuff, flash those holiday deals, and engage with your customers. And for some extra tips on levelling up your social media, check out our blog on how to make the most of social for holiday sales.
In a nutshell, the 2023 holiday shopping scene in Aotearoa will be about appealing to savvy consumers, a return to in-person shopping and continued love for local businesses.