💪 Getting pumped for promos
Black Friday and Cyber Monday are just around the corner as we kick off the holiday shopping season for 2023.
Last year, independent businesses generated a record $7.5B from the Shopify platform alone and we have no doubt that you want in on the action this time around.
Ready to set a new record for your brand? We thought so. 👇
We read up on Tapcart’s latest BCFM 2023 Consumer Trends Report to bring you the data from over 1K active shoppers so you can set your brand up for success in the fast-approaching holiday season.
Some key findings include:
- Insight on consumers’ budget and spending habits;
- What channel is most likely to convert;
- And why mobile apps are the best way to tap into the hype surrounding some of the best deals of the year.
Let’s dive in and learn about what it takes to make the most of the BF/CM season. 🍁
💰 Busy budgets
Your consumers are going into the holidays with a range of budgets. Being aware of these budgets can help you to determine the best way to bundle your products or what kind of discount will speak most effectively to your audience.
Most consumers are looking to spend $100 - $500 during this year’s Black Friday weekend on their favorite brands.
Bundling your products to align with this range is likely to sway your consumers into purchasing a bunch of products for themselves or picking up a few extra things for their loved ones. On average, consumers indicated that 69% of their purchases are gifts for others, and 31% are for themselves.
Consider tailoring your language around gifting and lean into the spirit of giving to grow your audience over the holidays. Bundling products together will encourage your consumers to gift products to their loved ones and raise their average order value.
Accompany that bundled offer with a tagline like, “the perfect gift for dad” and you may have yourself a few new loyal fans this holiday season. 🎄
🤳 More mobile than ever
It seems like almost everyone is using their phone to shop these days. 📱
Mobile shopping apps were the only sales channel to actually see an increase in popularity this year. 👀
As the popularity of mobile shopping continues to rise, so too does the buying power of the younger generation.
Brands that underestimate the importance and relevance of mobile shopping apps risk being left behind by their competitors and trendy consumers alike.
⏳ A matter of time
It’s a busy time of year for both brands and consumers. Everyone is looking to maximize what limited time they have to coordinate the perfect deal.
This sense of urgency undeniably translates into wanting a seamless checkout experience.
P.S. Did you know that recent data found that an inconvenient slog of a checkout was the third most popular reason people are abandoning their carts?
A mobile app allows consumers to use pre-filled payment and personal information to blaze through the checkout experience and secure the perfect gift for themselves or their loved ones with as little friction as possible.
For brands, a simple and intuitive checkout means more conversions and positive referrals from those consumers.
That sounds like a win-win situation to us. 😍
🏠 Significant spaces
A mobile app takes up screen space on a consumer's device at all times. That presence matters, reminding them of their favorite branded experience that’s never further than a quick tap away.
Being consistently accessible to those who are willing to invest in your brand is sure to skyrocket loyalty and lifetime value during the holidays since people are three times more likely to start a session with a brand’s app than their website.
Gaining the sweet spot on a shoppers’ device grants brands the ability to send push notifications and convert like no other channel can.
Push notifications are 182% more likely to convert when compared to conventional digital advertising methods.
BFCM is obviously the perfect time for your most loyal consumer to access your brand in a highly curated environment so they can take advantage of all you have to offer this season.
📸 What about social media?
Social media channels are seeing a decline in popularity when compared to a native shopping experience. Mobile apps allow people to access their favorite brands on their terms rather than having products pushed on them when they just want to share memes with their friends.
Social media channels don’t quite achieve the tailored experience that’s only possible through mobile apps and people are noticing. 👀
🤗 A little something for everyone
Whether you’re selling the latest and greatest tech or finding the perfect gift for your foodie BFF, mobile apps have a little something for everyone to elevate their ecommerce game.
Mobile apps have grown and evolved into some of the most highly-curated and converting sales channels for the most popular brands on the market. Luckily, building an amazing app using a company like Tapcart has never been easier.