2024 Holiday Shopping Trend:

Key Insights for Your Media Strategy

As we dive deeper into the 2024 holiday season, consumer behavior is shifting, and media strategies need to follow suit. Based on Deloitte’s latest Holiday Retail Survey, there are some important trends that should shape your approach this year. Here’s what you need to know to make sure your holiday campaigns are positioned for success.

Holiday Spending Is Up, But Shoppers Are Deal-Focused

This year, consumers are planning to spend more, with holiday budgets expected to rise by 8% year-over-year (YoY). The average shopper plans to spend $1,778 this season. However, even with more optimism, shoppers remain focused on finding value, with 68% of consumers planning to shop during Thanksgiving week.

While October promotional events have gained traction this year, most of the spending will still happen in November, especially during the key Thanksgiving shopping period. Your media strategy should ensure strong visibility in the weeks leading up to and during Black Friday and Cyber Monday, when consumers are most active.

Consumers Are Prioritizing Experiences Over Physical Gifts

One of the standout shifts in this year’s holiday trends is the growing importance of experiences. Spending on experiences like holiday events, travel, and gatherings is expected to increase by 16% YoY, while spending on gifts is projected to stay flat. Brands that can position their products or services as part of an experience—whether it’s creating holiday moments or offering experiential gifts—will likely see stronger engagement.

Value-Driven Shoppers: Price Matters More Than Brand Loyalty

The focus on value is stronger than ever, with 48% of consumers planning to shop at more affordable retailers, and 62% willing to switch to lower-priced brands. For your media strategy, this means emphasizing savings, discounts, and value propositions in your messaging. Consumers are looking for the best deals, and brands that highlight value will be well-positioned to attract these budget-conscious shoppers.

Given that nearly half of all shoppers will use smartphones to hunt for deals, mobile-optimized campaigns are essential. Consider deploying digital ads that allow for retargeting and reach consumers in real-time as they make purchasing decisions.

Late November Is Still Prime Time

While early promotions in October have captured attention, the majority of holiday spending will take place in late November. Your strategy should reflect this, ensuring that ad placements peak during Thanksgiving week to capture the bulk of consumer activity. Black Friday and Cyber Monday remain key moments for media buying, especially in competitive ad spaces like TV, digital, and streaming platforms.

Final Thoughts

The 2024 holiday season is shaping up to be driven by value-conscious, experience-seeking consumers. As you plan the remainder of your media strategy, focus on positioning your brand where it can meet those needs—through timely, value-driven messaging and placements that align with consumer behavior.

RCG Advertising & Media is  here to help you navigate these shifts and ensure your media buys are well-targeted for maximum impact during the critical weeks ahead.

*Insights are based on Deloitte’s 2024 Holiday Retail Survey, which surveyed 4,114 U.S. consumers and 45 retail executives.*

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100% of this written content was generated by a human, me, the author, with a catch. AI helped with the ideation (ChatGPT), grammar & proofreading (Grammarly). The final edit is my point of view. If you’re interested on how it was made, reach out and I would be happy to walk you through my process. Images created with AI (Imagen).