Cardlytics Releases Annual Holiday Spend Trends
Findings show nearly 40% of all holiday spend occurs in the four weeks leading into Black Friday
Based on actual purchase data, the findings show that last year, nearly 40% of total holiday spend occurred in the four weeks leading into Black Friday, signaling that the start of the 2019 shopping season is upon us. Other key findings from the annual report show:
- Holiday spend is on the rise: Holiday spend increased 2% from 2017 to 2018. Convenient benefits, such as free shipping, seemingly infinite choices, and buy-online-pickup-in-store options resulted in a larger number of transactions and higher spend overall, but they also led to a 0.7% decrease in individual basket size.
Omnishoppers spend more: Customers who shop with a retailer both in-store and online spend twice as much during the holidays as those who favor one channel. However, these valuable omni customers only comprise 10.3% of the current retail customer base, presenting a huge opportunity for brands to capture additional spend.
- In-store shopping still dominates, but continues to lose share: From 2017 to 2018, brick-and-mortar’s (B&M’s) share of spend declined 1.6% to 78.6%. B&M’s are losing their share of spend to online-only merchants, whose share increased 1.3% to 12.9%. However, they’re making up for some of this lost spend by investing in their own online properties, which increased slightly to 8.4% in 2018 from 8.2% in 2017.
Fewer spikes in spend: The changing retail landscape has led to a flattening and stretching of the holiday shopping season. Consumers are spending more consistently throughout the months of October through December instead of saving their shopping for the week of
Thanksgivingor the week leading into Christmas.
- Loyals drive the bulk of spend: On average, repeat customers drive 70% of holiday sales and spend 43% more than new customers acquired during the holiday season.
“As shopping preferences continue to change, it’s important for retailers to understand the trends,” said Cardlytics’ Chief Marketing Officer,
Now in its fifth year, the