It’s never too early to start talking about Christmas! Here at Escapade, we know how important it is to keep up with all the Christmas 2023 consumer trends before they start emerging this festive season. (Also, who doesn’t love Christmas!)
Retail Week looked at the consumer habits and trends to be aware of for Christmas 2023. Here are a few habits that brands should be aware of as the Christmas season approaches.
CONCIOUS SPENDING
This year has been filled with financial uncertainty. The cost-of-living crisis has meant that consumers have become more conscious with their spending, especially on luxury items.
“Data from a survey conducted by CommerceHub showed that 76% of consumers are now frequently browsing multiple marketplaces before committing to a purchase, highlighting the need for channel diversity.”
Christmas is a key period for Retailers to ensure that they are offering great value gifts to buy for friends and family. Although, shoppers do start purchasing gifts earlier in the year to plan ahead and spread the costs.
SUSTAINABLITY
Consumers have become more conscious surrounding their purchasing habits and are willing to pay more for sustainable products. As reported by Convenience Store:
“People have also changed daily routines to become more sustainable. This includes recycling more (58%), choosing products with less packaging (36%), choosing local produce (27%) and reducing the amount of meat consumed (26%).”
As consumers are becoming more aware of the products they are buying and the environmental implications, it is important for brands to adapt elements of their offerings to account for this.
SOCIAL MEDIA
Social Media continues to influence consumer buying habits particularly amongst Millennials and Gen Z. With the frequent trends across platforms like TikTok and the evolution of TikTok shop, the way in which brands can reach their audience is continuing to develop.
“TikTok Shop is an innovative new shopping feature which enables merchants, brands and creators to showcase and sell products directly on TikTok through in-feed videos, LIVEs, and product showcase tabs.”
Brands, creators and merchants can now sell directly to consumers on the platform, bringing influencers even closer with their audiences.
CATEGORY TRENDS
Gifts within Food and Drink, Entertainment, and Fashion are the leading choices for consumers.
According to Hearst – “Food and Drink, of which 8.1 million of Hearst UK’s audience, buy food and drink-related gifts for their loved ones at Christmas.”
However, demand is still high for Beauty, Homeware, Tech, and Health products. It is important for brands across all categories to be aware of consumer spending habits and what they are looking for as the Christmas season approaches.
Here at Escapade, we love learning about the latest Christmas 2023 consumer trends and how it can affect and modify brands approach to their marketing tactics.
If you enjoy learning about new trends and fads across multiple platforms check out our blog on Takeaways or Fakeaways: TikTok Food Trends.
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Sources
https://www.retail-week.com/customer/the-biggest-consumer-trends-of-christmas-2023/7044189.article
https://www.hearst.co.uk/the-beacon/christmas-unwrapped-key-consumer-trends-know-2023
Blog Cover Photo: Paulina Kopijkowska/istockphoto.com
