In this edition of the weekly research briefing, we share newly released data from Modern Retail+ Research that focuses on the top marketing strategies and sales channels retailers and brands are turning to this holiday season.
Interested in sharing your perspectives on the future of retail, technology and marketing?
Apply to join the Modern Retail research panel.
61% of marketers who use TikTok say the platform’s importance grows during the holidays
Breaking News: The year-end holiday shopping season is a crucial moment for most retailers and brands as consumers flock to stores and websites to purchase gifts — driving a surge in sales. For some marketers, it’s a make-or-break financial season, as holiday profits can account for the majority of their annual revenue. This week, Modern Retail+ Research published a guide to the top marketing tactics and sales channels retailers and brands are using this season.
Questions: Which sales and marketing channels are retailers and brands turning to for a successful 2023 holiday sales season? What are their top marketing tactics within those channels?
Answers From Research:
During the holiday season, TikTok sees a greater surge in importance to marketers than other marketing channels, according to Modern Retail+ Research’s survey. The majority of retailers and brands that use TikTok for marketing (61%) said that the platform grows in importance to their marketing plans during the holidays. To capitalize on marketers’ interest and its users’ shopping appetite, and to set itself up for a successful 2023 holiday sales season, TikTok is doubling down on TikTok Shop and offering a 2023 strategic holiday media plan for marketers.
When it comes to sales channels, 85% of survey respondents said they have used their own e-commerce sites thus far in 2023 and of those users 76% agreed the channel grows more important to their holiday marketing plans. It’s generally most advantageous for brands to have customers convert on their own e-commerce sites, as opposed to converting on marketplaces or other retailers, causing many brands to invest resources in their own sites. On top of that, owned e-commerce sites become an important hub of product information for shoppers during the noisy, cluttered holiday season.
Among all of the marketing tactics at their disposal, gift guides (selected by 65% of marketers) are marketers’ top marketing tactic for the 2023 holiday season. Historically, gift guides have performed well for retailers and brands, with 49% of survey respondents saying gift guides performed best for their companies during past holiday seasons, making them the natural top strategy for the current year.
Want to learn more: Modern Retail+ Research’s holiday playbook examines which marketing tactics and sales channels retailers and brands are leaning on for the 2023 holiday season.