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Lessons for Online Retailers Heading into 2024's Holiday Season

Online retail sales for December 2021 barely surpassed projections, showing a slight 1.3% increase overall. The German Retail Association (HDE), however, predicted more substantial growth of up to 4.1% in the business-to-consumer (B2C) sector. Despite the lukewarm results, the 2021 holiday...

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Online retailers in Zurich-Oerlikon report modest sales growth during the holiday season. As per...
Online retailers in Zurich-Oerlikon report modest sales growth during the holiday season. As per the German Retail Federation (HDE)'s prediction, overall sales rose by a marginal 1.3%. However, a more promising sign came from the B2C sector, which saw sales surge by up to 4.1%. The forthcoming Christmas season of 2024 indicates potential opportunities for online retail, with prompt responders likely to reap the benefits.

Lessons for Online Retailers Heading into 2024's Holiday Season

ZURICH — With the 2024 holiday season complete, online retailers have gathered invaluable insights for the coming year. Though overall sales growth was modest, totaling a mere 1.3 percent, according to the German Retail Association (HDE), the B2C sector demonstrated a more encouraging increase of up to 4.1 percent.

Understanding the trends emerging from the 2024 Christmas business can help online retailers bolster their strategies for the new year. While brick-and-mortar stores garnered a 5 percent rise in preference for holiday shopping, shifting consumer preferences demonstrates a crucial area for improvement. To captivate customers, retailers should focus on presenting products in context and demonstrating their added value, rather than simply stocking merchandise.

A decrease in sales on the days just before the holidays hints that retailers should adjust advertising budgets, conserving expenditure on December 23rd and 31st to optimize ROAS. On the contrary, reaching gift buyers early will prove more beneficial, as last-minute spontaneous purchases are less prevalent online.

Offering pre-wrapped gifts led to a 12 percent increase in sales, emphasizing the importance of implementing extra services to create an enjoyable shopping experience. It is also essential for retailers to identify client needs during special occasions and tailor promotions accordingly.

Interestingly, the average spending on Christmas gifts in Switzerland remained stable at 282 CHF. This consistency offers a reliable foundation for planning next year's holiday season. More consumers tend to start their gift shopping as early as August, highlighting the importance of strategic marketing initiatives targeting early shoppers.

Gift cards also remained popular last year, with 42 percent of respondents planning to use them. Including well-thought-out gift card options allows online retailers to capitalize on this trend and secure additional sales.

Lastly, the waning appeal of Black Friday suggests that customers now prioritize aspects like sustainability, quality, and simple ordering processes over temporary discounts. With budget providers like TEMU gaining ground, retailers must focus on these values to achieve success.

In summary, adaptability is vital to thriving in the ever-evolving e-commerce landscape. Online retailers should focus on early planning, offering thoughtful extra services, and targeting customer inspiration to stay competitive in today's market.

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Ephraim Chiozza, founder and CEO of AdWiser GmbH, is a marketing expert specializing in creating comprehensive marketing systems for online shop operators, designed to help clients maximize their advertising budget effectiveness, fostering sustainable results. For further information, visit: https://ad-wiser.ch/

Press Contact:AdWiser GmbHE-Mail: [email protected]: https://ad-wiser.ch/

Source: news aktuell

Enrichment Data:

  • Buy Now, Pay Later (BNPL) Options: Sales during the 2024 holiday season accounted for $18.2 billion of online transactions through BNPL[1]. Offering flexible payment options could appeal to customers seeking financial flexibility, especially during holiday seasons.
  • Increased Mobile and AI Adoption: There was a noticeable surge in mobile shopping and the use of AI-powered shopping assistants[1]. Online retailers should consider investing in mobile-friendly platforms and AI-driven tools to optimize user experiences and improve product discovery.
  • Cyber Week Spending Trends: Cyber Week witnessed a significant spending pattern, with many shoppers spending between $101 and $250[5]. Insights from these spending patterns can aid retailers in tailoring their promotions and product offerings.
  • Holiday Season Sales Performance: U.S. retail sales climbed by 3.8% during the 2024 holiday season[4]. Online retailers should prioritize maximizing sales during peak holiday periods.

By considering these strategies, online retailers can boost their sales performance and cater to evolving customer preferences more effectively in the current year.

https://ad-wiser.ch/Original Content by: AdWiser GmbH, transmitted through news aktuellSource: ots

  1. To increase sales and appeal to consumers seeking financial flexibility, online retailers could consider offering Buy Now, Pay Later (BNPL) options.
  2. As there was a surge in mobile shopping and the use of AI-powered shopping assistants during the 2024 holiday season, retailers should invest in mobile-friendly platforms and AI-driven tools to optimize user experiences and improve product discovery.
  3. Understanding the spending trends from Cyber Week can help retailers tailor their promotions and product offerings effectively, as many shoppers spent between $101 and $250 during this period.

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