It’s finally November which can only mean one thing…holiday shopping season is here. For many retailers this represents the biggest quarter of the year in terms of profit. For others it means a chance to boost lacking Q3 2013 sales. In 2013 holiday shopping is not only influenced by traditional media such as newspaper ads, catalogs, and television ads; but it is increasingly becoming more impacted by social media.
A report released yesterday by Adobe showed that 30 percent of consumers polled said they plan to increase their online shopping, 36 percent said that social media sites such as Facebook will play a role in purchasing decisions. Though only 2 percent of holiday online shopping transactions are expected to come from social, retail brands will be ponying up on advertising during Q4, especially in a shortened season.
Cost per click ads on Facebook are thought to be increasing due to higher demand. Last year CPC increased a whopping 42% during the holidays. The challenges? Standing out from all the other competitors and being able to measure the influence of the Facebook ads.
Other major takeaways from Adobe’s study:
- Cyber Monday this year is projected to be the biggest shopping day in history, pulling in $2.27 billion.
- Thanksgiving will become a bigger shopping day, and could eclipse Black Friday in 5 years. Spending is projected to rise on that day 21 percent year-over-year.
- More consumers will turn to online shopping, lured by cheaper prices and free shipping.
- 28 percent of consumers plan to rely more on mobile for holiday shopping this year.
- Toys and hobbies will be the biggest shopping categories on Cyber Monday.
How will your company or brand be changing their social media strategy for the holidays?