The holidays are just around the corner, yet again. After two years of uncertainty and reduced social contact, consumers are looking forward to making up for lost time and flocking back to pre-pandemic festive habits.
Despite the perfect storm of the rising cost of living, a very crowded and competitive market, and anomalous data from the past two years, this holiday and peak trade season still has the potential to be exceptional.
But, if you’re hoping to get more traction for your e-commerce brand, you need to acknowledge that the rules have changed. There are currently over 2.14bn global online shoppers, with only 27.4% of consumers now showing no brand loyalty at all. Alongside this, mobile commerce accounts for a 60% share of total retail online sales in the UK with 69% of e-commerce brands planning to increase investment in paid and organic search.
It’s time to step up your game.
The ultimate peak trade guide
You’re not on your own – we’re here to help. In our latest guide, compiled by experts from Hallam, we’ll guide you through the rollercoaster that is Q4 and help your business thrive.
From organised shoppers to last-minute visitors, you need your brand, products and services to be ‘front of mind’ at all times. You need to create a truly great experience that exceeds your customers’ expectations and authentically engage with them over multiple platforms.
In our guide, we cover:
- The current landscape
- The Q4 rollercoaster
- Getting ready for Q4 peak trade
- How to react and pivot to Q4 trading
Looking ahead: market conditions
Our Strategy and Advertising Director, Ben Wood, explains:
“As we enter the second half of 2022, it’s likely we’re about to enter an economic recession – driven, in part, by inflation, interest rates and energy costs, as well as supply-chain disruptions and the Russian invasion of Ukraine.
Consumer confidence is in decline and, according to KPMG, one in three British households want to cut back on their spending, with those hardest hit by the downturn stopping all discretionary spending. Most consumers are now economising across the board, but not as aggressively as those in the low income bracket. They are nervous about the immediate future, but do believe things will improve over time. However, if the downturn continues into Q4 and beyond, they too may stop all spending considered superfluous and there’s a very real risk that this will further impact retailers.
“Although no two recessions are created equally, in a recession – generally speaking – all consumers will reprioritise their purchases. They’ll still buy the essentials, but may very well look for reduced prices or cheaper alternatives to their usual brands. Anything unnecessary or hard to justify, along with ‘treats’ and purchases which can be reasonably delayed, will likely be eliminated or far less frequent. Read our peak trade guide for our take on how to navigate the potential turbulence of Q3 and Q4, and how to best prepare for peak trading.”
If you want to make the most of the busy peak trade period, you need to start acting right now. Download the guide here.