Expertise

All in Good Time: Retail Seasonality

By 
Sarah Miller

There seems to be a steady stream of movement as the seasonal retail space transitions from one season to the next. Consumers are driving this flow, and brands need to stay ahead of the wave to see a flood of sales.

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There seems to be a steady stream of movement as the seasonal retail space transitions from one season to the next. Consumers are driving this flow, and brands need to stay ahead of the wave to see a flood of sales.

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Retail Seasonality Defined

When we think about the impact of seasonality on retail and how brands can maximize sales, it’s first necessary to understand exactly which retail seasons we’re talking about. Today, top shopping holidays go way beyond Christmas. In fact, when we look at the top five spending events, Back-to-College is bringing in the largest amount of consumer spend, followed by “Winter Holidays Gifts and Celebrations” – inclusive all of the winter gift giving holidays – Back-to-School and then spend dramatically drops for Mother’s Day and Father’s Day.

Past those five shopping events, Valentine’s Day, Easter, Graduation, Halloween, 4th of July, Super Bowl and St. Patrick’s Day round out key shopping seasons for retailers.

The retail shopping season for each holiday generally starts 6-8 weeks prior to the holiday. Winter Holidays are the exception with shopping starting as early as 3-4 months in advance. While consumers might have a mild frustration with the holiday creep, seasonal sales show no signs of slowing down and contribute significantly to retailers’ overall sales volume.

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Consumer Trends Driving the Seasonal Surge

Today’s shopper is looking for value like never before. They not only need to make their hard-earned dollars go further in the face of persistent economic uncertainty, but how they assign value has changed as well. Consumers are looking for things that add meaning to their lives by improving their health and well-being, fostering connections with others or allowing them to live their lives authentically. While consumers find ways to cut back, they will still spend on things that can provide true value.

Holidays check the box on value for a number of reasons. While holidays can bring a certain amount of stress and additional expense, they are overwhelmingly perceived to be a time to connect with others, show those we care about how much they mean to us, and create new memories and experiences.  

Additionally, consumers are attempting to manage their holiday spending while they take on increased costs and living expenses by spreading out their spending over longer periods of time. In turn, this not only leads to early buying, but it often leads to increased budgets as new gift ideas are introduced or consumers take on unplanned or spontaneous purchases.  

Shoppers are receiving inspiration from so many sources – retail environments, social media, promotional emails. They enjoy the planning and preparation for events as it comes with joy and excitement for the season ahead. The inspiration and enthusiasm culminate in driving increased spending, when shoppers recreate the holiday experiences that inspire them – food, décor, gifts – you name it.

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Holiday Carpe Diem

While stores may be currently stocked with Easter bunnies and a smattering of American flags, now is really the time for brands to be thinking about Back-To-College and tapping into the largest amount of consumer spend. Getting in front of holiday shopping seasons is really just the first step for retail brands to seize the opportunity in front of them.

Retailers can play into the timing of seasonal shopping windows with easy to deploy creative execution such as count down timers and seasonal-specific discounts. These simple communication enhancements can boost conversions by almost 25%, according to a HawkSEM survey.  

As many as 67% of shoppers (Source: WiserNotify) say they make purchase decisions based on seasonal offers and promotions. Maximize those messages by leveraging the customer journey to deliver personalized promotional messages along the way. Build awareness with segmented messaging through customized landing pages, personalized email and dynamic social media. Stand out from the consideration set with intelligent product recommendations and personalized pricing strategies. And then close the sale with a streamlined check out by adding saved payment information, preferred shipping options and targeted upsell suggestions.

Finally, find ways to inspire your customer and be the fodder for their holiday planning dreams. Give them ideas and inspiration that bring the people they care about together and create experiences that make memories. Provide gift ideas that show they put thought and planning into the selection process. Everyone wants to be the ultimate gift-giver – even on a budget.

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No matter what season you’re in, the holiday shopping season is likely upon you. Let BR put out 60+ years of retail experience to work in helping you get ahead of the holiday hustle – whatever holiday you’re facing.

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