Rising consumer confidence and brand loyalty offer unique opportunities for retailers this holiday season, but brand must engage, not overwhelm consumers
Image 1: 95% of consumers are likely to revisit a brand after a positive experience.
Image 2: 67% of consumers are anticipating marketing fatigue by November 1st
NEW YORK, Aug. 11, 2024 – Optimove Insights, the analytical and research arm of Optimove, has released its Report on Consumer Shopping Intentions for Holiday 2024, offering insights for marketers looking to optimize their holiday strategies. A key finding is that 67% of consumers are anticipating marketing fatigue by November 1st. Marketing fatigue occurs when consumers feel overwhelmed by the volume or repetition of brand messages, leading to reduced engagement and negative perceptions.
At the same time, the report reveals a rise in consumer confidence and underscores that brand loyalty remains steadfast. For the 2024 holiday shopping season, retailers can use these insights from the report to boost sales and foster long-term customer relationships. By prioritizing personalized, relevant marketing and delivering exceptional customer experiences, brands can position themselves to engage, and not alienate, their customers this holiday season.
The Optimove Insights Report on Holiday Shopping for 2024 is based on a survey of retail shopping intentions conducted in July 2024, querying 280 U.S. citizens aged 21-plus with household incomes of $75,000 or more.
Optimove is the first Customer-Led Marketing Platform. Its solutions ensure that marketing always starts with the customer instead of a campaign or product. Customer-led marketing has been proven to deliver brands an average increase of 33% in customer lifetime value.
Key Insights from the Report:
- Rising Consumer Confidence: Consumer confidence is up, with 50% of respondents expressing optimism about the economy, an increase from 26% in 2023. This new confidence can translate into higher holiday spending intentions, as 61% plan to budget more for gifts this year.
- The Power of Brand Loyalty: The report underscores the critical role of brand loyalty, revealing that 95% of consumers are likely to revisit a brand after a positive experience. Moreover, 58% prefer to shop at familiar stores, highlighting the need for retailers to focus on building strong customer relationships (see image 1).
- Balancing Marketing Fatigue: With 67% of consumers anticipating marketing fatigue by November 1st, the report stresses the importance of delivering relevant and personalized messages to maintain engagement and avoid overwhelming customers (see image 2).
- Omnichannel Shopping Experience: Sixty-four percent (64%) of consumers plan to shop online during the holiday season, underscoring the importance of integrating online and offline channels to provide a seamless shopping experience.
- Trust and Transparency: Trust in online brands is high, with 66% of respondents confident in the security of their personal information. Brands must prioritize data protection and transparent communication to maintain and build consumer trust.
- Environmental Commitment: Consumers are increasingly drawn to environmentally conscious brands, with 79% considering a brand’s environmental efforts important, and 76% willing to pay more for eco-friendly products.
Pini Yakuel, CEO of Optimove, said, “This report is a window into consumer attitudes and intentions for shopping for the upcoming season. For leading marketers, it can guide strategies and actions to drive customer loyalty and optimize lifetime value. It will be critical that brands engage with consumers to enhance their relationships – not alienate or overwhelm consumers with irrelevant impersonal messages. The bottom line is that customers have high expectations that a brand knows them and interacts with them accordingly.”
Methodology:
The Optimove Insights Report on Holiday Shopping for 2024 is based on a survey of retail shopping intentions conducted in July 2024, querying 280 U.S. citizens aged21-plus with household incomes of $75,000 or more.
