The holiday season is upon us, and Adobe just dropped their online holiday shopping forecast for 2024. What can online brands expect? Adobe predicts 8% year-over-year growth vs. 2023 (from Nov 1st-Dec 31st). This would be up from 5% growth in the same period last year (2023 vs. 2022). We recently published an article, The Expectations of 2024 Holiday Shopping, predicting a 9.5% increase, so experts seem to agree the shopping season looks bright!
If you’re a DTC brand with dreams of ending 2024 with a bang, this is your cue to gear up. But as with any holiday season, success isn’t just about showing up—it’s about strategy, knowing the trends, and acting fast.
Here’s a recap on Adobe’s predictions to help you prepare.
Big Discounts, Bigger Sales?
A key trend to watch for this year is the shift in consumer behavior—particularly in how shoppers approach discounts and their taste for premium products.
Discounting is expected to be prevalent, though forecasts suggest better sales performance for more expensive products this year (vs. tradedown to lower-priced products last year given inflation).
If you thought last year’s Black Friday and Cyber Monday were all about slashing prices to move inventory, you’re right—but 2024 could tell a slightly different story. While discounts will still be rampant, shoppers aren’t just hunting for the cheapest options. No more racing to the bottom; instead, expect better performance from high-ticket items.
Yes, consumers are still price-conscious, but inflation fatigue seems to have eased up, and they’re ready to invest in higher-quality goods. For DTC and B2B brands, this means it’s time to rethink your discount strategy. Offering deep discounts on everything might not be necessary. Instead, focus on how you can strategically price your more premium products. Show your audience why it’s worth spending a little more on that luxury item—whether it’s through better storytelling, superior quality, or added value like free shipping or extended warranties.
The Power of Storytelling in Premium Purchases
Just because shoppers are willing to spend more doesn’t mean they’ll do so without reason. This is where your brand’s story and message play a pivotal role. This tells us something significant: customers are back in the mindset of wanting quality, but they still need a compelling reason to justify the price.
Enter brand messaging. If your product can solve a problem, create an emotional connection, or represent something bigger than itself, you’ve got the winning formula. Now is the time to double down on your messaging and help your audience understand not just the product, but the value behind it. It’s not just about “buy this because it’s on sale”—it’s about “buy this because it will make your life better in (these) ways.”
Be Ready for the Traffic Surge
Let’s not forget the digital infrastructure that supports your holiday push. Adobe’s forecasted 8% growth isn’t just a number—it represents millions of additional site visits, and you don’t want to be caught unprepared. From site speed to mobile optimization, make sure your tech is ready for the incoming rush. Remember, a slow-loading page can be the difference between a customer sticking around or bouncing to a competitor.
Stay Agile, Stay Alert
The holidays are a prime time to show the best of what your brand has to offer, but staying nimble is key. As we’ve seen in past years, shopper behavior can shift on a dime. Trends that start in early November can look very different by mid-December. That’s why staying close to your data and making adjustments quickly can give you the upper hand. Whether it’s tweaking your discount strategy, ramping up customer support, or refining your ad targeting, keep a close eye on what’s working and what’s not.
A Final Thought
This holiday season is shaping up to be a bright one, and with Adobe forecasting significant growth, DTC and B2B brands have a golden opportunity to not only close out the year strong but to build lasting relationships that carry into 2025. So, start prepping, get strategic with your offers, and make sure your messaging resonates—because this holiday season, it’s all about transforming traffic into loyal customers.
Looking for a holiday strategy to boost your DTC or B2B brand? Reach out to LimeLight Marketing today.
