Marketers should ready themselves for a booming Golden Quarter as increasing numbers of Brits plan to spend big this Christmas, according to new research from Havas Media Network.
Even before the nation has its trees up, the research reveals that Black Friday and Cyber Monday are a crucial opportunity for marketers, with 71% of Brits on the hunt for deals.
According to the study which looked at 2,000 consumers, almost seven in 10 Brits (67%) plan to spend the same or more than last year.
Throughout the season, eight million adults plan to up their spending, bucking the trend on what was a sluggish last Christmas for the main retailers, while 3.7 million fewer Brits expressed concerns about being able to afford Christmas than two years ago.
“Although inflation continues to rise, it’s at a slower rate, and households are adapting by becoming increasingly financially savvy,” said Havas Media Network chief planning officer Jackie Lyons.
“To cut through the Christmas clutter and appeal to these discerning shoppers, brands need to focus on two key strategies,” she continued.
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“Firstly, they must be more relevant than ever by addressing genuine consumer needs and adapting to evolving behaviours. Secondly, finding innovative ways to stay salient by maintaining emotional connections with customers will be crucial.”
Advertisers should note that over half (53%) of consumers are eager to return to in-store shopping, representing an sea change from the past couple of years which have seen the lagging impact of Covid-19 and the cost of living crisis.
Crucially, young shoppers aged between 18-34, who have felt the brunt of the cost-of-living crisis, are planning to spend more than they did last year, marking a 20 percentage point increase
It is also more essential than ever for marketers to develop targeted messaging using tool like artificial intelligence (AI), with one in five turning to social media channels for Christmas shopping ideas.
“Leveraging digital channels, data, and AI to create personalised and engaging campaigns will help to achieve this. Brands that authentically align their festive strategies with these insights will lead the way this holiday season,” said Lyons.
Food and drink is looking particularly strong, with 29% of Brits expected to spend more over the Golden Quarter this year. Equally, increased spending can be expected across other key categories including clothing (24%) and health and beauty (20%).
A final key takeaway from the report is that brands should continue to lean on the nostalgia as Christmas advertising continues to remain a cherished part of the season, with 66% of consumers viewing it as a tradition.
