Budget-Savvy Consumers Gear Up for Holiday Shopping

by CiCi

As the holiday season approaches, consumers are increasingly mindful of their spending habits, influenced significantly by rising inflation. Ed Hallen, Chief Product Officer and co-founder of Klaviyo, a retail marketing automation platform, recently shared insights on consumer sentiment regarding holiday shopping in an interview with Alexandra Canal on Wealth!

Hallen noted that while shoppers are prepared to maintain or even increase their holiday expenditures this year, they are more focused than ever on pricing and finding discounts. “What we’re seeing is that customers are really feeling inflation. They are allocating more funds towards essentials but still expect to spend on holidays,” he explained. “However, they are prioritizing value and actively seeking out the best deals.”

To maximize their holiday budgets, Hallen advises shoppers to engage directly with brands to stay informed about promotions. “It varies by brand, but consumers should explore different ways to connect, whether through in-store visits, email newsletters, or SMS updates. Brands have various strategies for offering discounts, and shoppers should take advantage of these channels,” he stated.

Additionally, Hallen highlighted the influence of social media on purchasing decisions, particularly platforms like TikTok and Instagram, where trends can sway consumer behavior. This trend may prompt brands to adapt their marketing strategies to capture the attention of consumers looking for the latest deals.

For more insights and to stay updated on market trends, viewers can catch the full episode of Wealth!

Related topics:

UAE Announces Paid Holiday for Private Sector Employees on Prophet’s Birthday

Foreigners Flock to South Korea for Working Holidays Due to Positive Perception

United States Mint Launches 2024 Holiday Ornaments on October 1

You may also like

blank

Welcome to our festival portal! We’re your ultimate guide to celebrations, offering a curated selection of events, traditions, and tips to make every occasion unforgettable. From cultural festivities to seasonal delights, join us in embracing the spirit of joy and togetherness.

Copyright © 2023 fbadvs.com