Australians plan to do 90% more online Christmas shopping this year compared to previous years. 2-in-5 Australians say they’ll shop online early to have gifts delivered in time - a study conducted by PayPal reported
It's a common speculation we encounter as digital marketers.
Some business owners speculate that people may have limited funds due to it 'being xmas time' or people being away on holidays (well maybe not this year lol)
But here are some helpful insights on the paid marketing end:
So what does this mean for your business?
The trending up of CPMs shown in the graph suggests that advertisers/business owners are spending more and more leading into the holiday season. Which means higher advertising costs and more competition.
So it would seem if you are considering to launch your xmas/holiday campaigns, you should probably do it soon to make the most of the lower competition!
PayPal’s research reveals the amount of online Christmas shopping in Australia is expected to almost double (48%) compared to previous years (25%): a year-on-year increase of 90%.
Shopping in-store is set to decrease, with respondents saying they plan to do only half (52%) their Christmas shopping in-store: a 30% year-on-year decrease from 75% of Christmas shopping being done in-store previously.
What about the dreaded WEEK IN BETWEEN? (27th Dec to 2nd Jan)
Even more reason to make the most of the time-on-screen!
With people more likely to be taking time-off and having more 'screen-time'. You could be putting your brand's products or services in front of them with exactly the right timing
Consider promoting your paid Facebook Ads to your retargeting (custom audiences) audiences who have already had a first impression with your brand, as the likelihood that they will convert is significantly higher!
From personal experience and being blessed to work with so many different businesses, this period of time has always offered a unique opportunity to set up the year to come.
No one has ever purchased from a business they've never heard of.
So if nothing else, use this time to tell everyone about your awesome biz!