It’s that time of year — the holiday season. Today, the holiday season offers a variety of shopping days and deals, making knowing when and where to shop a bit overwhelming. Effective navigation of the holiday shopping season is crucial for retailers and sales teams to manage the rush and maximize sales seamlessly. While some holiday shoppers like to start shopping in October, the season officially kicks off on the day after Thanksgiving, also known as Black Friday, and runs through the end of December. The holiday shopping season is a full month of shopping and spending; while brands are hoping to take their cut of the forecasted 1.19 trillion in sales this holiday season, it is the strategic businesses that, at the end of this season, they have strengthened their customer engagement and increased brand visibility and loyalty.
Credico is a recognized leader in retail sales. Our in-person business model has been making genuine connections with loyal customers in the communities where we live, work, and play for over three decades. Consider this your official guide to in-store shopping this year, providing strategies for your team to maximize sales during the key sales days of the season. We’re here to help your brand and sales team navigate this season successfully and boost sales.
Black Friday
Mark your calendar for the biggest shopping day on the planet, Black Friday. November 29th, the day after Thanksgiving, has become a global sales event. Ever since the first Black Friday in 1956, when Philadelphia police officers observed “the chaos that resulted when large numbers of suburban tourists came into the city to begin their holiday shopping” and referred to it as “Black Friday,” shoppers have flocked to stores on this day. Black Friday has nearly become an official in-store holiday. While it’s less chaotic than it once was, it is still a beloved shopping tradition and a sales generator for businesses.
Similar to the late 1980s, when U.S. retailers started viewing it as an opportunity for businesses to move from being “in the red” to “in the black,” that tradition still rings true today. Black Friday is expected to see the most sales growth, with over $10.8 billion generated in revenue globally. Last year, Black Friday sales amounted to $9.8 billion, with 76.2 million customers shopping in-store. While shoppers are expected to spend on Black Friday, budget-conscious shoppers worldwide will look for early bird deals and competitive discounts.
Small Business Saturday
Small Business Saturday is dedicated to supporting small businesses and takes place this year on Saturday, November 30th. The purpose of this day is to boost local economies and strengthen communities. It also encourages shoppers to visit brick-and-mortar stores, helping to sustain the in-store holiday shopping experience. Created in 2010 by American Express, Small Business Saturday highlights small businesses’ incredible impact on our economy while highlighting our need to support them, especially during the holiday season. During the holiday season, small businesses generate an impressive 25% of their annual sales. For the small business retail sector, 73% report that more than a quarter of their yearly sales occur during this time. Businesses should educate their shoppers on the importance of supporting small businesses, especially during this high-volume time of year.
Cyber Monday
Cyber Monday has become a peak time for holiday shopping, leading to significant sales for businesses. This digital sales day has been such a success over the years that since 2005, it has evolved into Cyber Week, with many companies extending their online sales beyond just 24 hours to cover the entire week.
During this period, often referred to as the fourth quarter shopping spree or the race to the finish, businesses are expected to experience a surge in sales. In 2023, global sales increased by 6% year-over-year, reaching $298 billion. Sales during this timeframe are projected to generate $40.6 billion in revenue globally, representing a 7% increase.
Although Monday, December 2nd, or Cyber Monday, is primarily an online shopping event, your brand can still take part in the global sales opportunity by adopting an omnichannel marketing strategy. Creating a comprehensive plan that integrates both online and offline touchpoints allows you to engage customers with your brand during this significant sales period. This approach will enable your in-store brand to capitalize on online sales simultaneously.
Giving Tuesday
Founded in 2012 to encourage people to give, Giving Tuesday has grown into a global generosity movement, inspiring people to do good and give back. Giving Tuesday embodies the true spirit of the holiday season, focusing on gift-giving—but in this context, it’s about supporting worthy causes to help those in need. It serves as an opportunity to do what its name suggests: to give. And this year, the giving is expected to be massive. According to Whole Whale, it is predicted that $3.5 billion will be raised in a day.
While most donations on Giving Tuesday occur online, many in-store businesses also provide ways for customers to contribute to non-profit organizations alongside every purchase made. Giving Tuesday takes place the Tuesday after Thanksgiving, which is December 3rd this year.
Brick-and-mortar brands can encourage their in-store shoppers to make deals when they give on this day. Giving Tuesday is another reason why implementing an omnichannel marketing plan for this time of year is strategic. By having dedicated channels for online or in-person giving, your customers can associate those good feelings they receive when they give with your brand.
Boxing Day
In the United Kingdom and Canada, Boxing Day, also known as Offering Day, is celebrated on the day after Christmas. The origin of Boxing Day is rooted in the tradition of giving gifts to those in need or employers providing presents to their customers or employees as a gesture of gratitude. Today, the day is a continuation of the holiday season beyond December 25th, especially if that day falls on a weekend.
The holiday season is a festive time of year, but it’s also fiscal season. For many businesses, it’s the end of the fourth quarter and the 2024 fiscal year. This guide aims to assist businesses in ending their fiscal year with a bang and in a financial situation that can give them room to grow and enjoy their business success. If your business needs help navigating this holiday shopping season, contact Credico today. We’re here to help your business grow.