With 80% of consumers planning to spend more or about the same as they did last year, brands must adjust their strategies to accommodate changing consumer behaviours and economic influences.

In part one of our holiday series, we delve into the record-breaking sales figures, the continued shift to online shopping and the increasing dominance of mobile commerce. By examining the data and insights from last year, brands can better anticipate and prepare for the challenges and opportunities that lie ahead in the holiday shopping seasons to come.

Here are the top three insights you can expect to learn about in this report:

• Shifting Consumer Habits: The 2023 holiday season saw $109.3 billion in online sales, with consumers buying fewer items but paying more due to inflation, indicating a shift in more consumers choosing to be selective and intentional in their shopping habits.
• Mobile Commerce: Mobile shopping accounted for 52% of Cyber Week traffic, but showed lower conversion rates compared to desktop, underscoring the need for brands to optimise the mobile shopping experience.
• Online Marketplace Preferences: Nearly half of US and UK consumers prefer online marketplaces for holiday shopping, highlighting the need for brands to strengthen their presence on these platforms.

The 2023 holiday season underscored significant shifts in consumer behaviour, particularly the move towards online shopping, price sensitivity due to economic factors and mobile-first experiences. So as you prepare for the 2024 shopping season ahead, your plans should reflect these trends and be flexible enough to pivot throughout the sales period and accommodate evolving consumer preferences.