16 October 2024

2024 peak season trends

In summary

• In 2024, peak season sales will be more challenging for advertisers than ever
• Increased competition will make it tougher for businesses to stand out
• Economic pressure will continue to shape how Australian consumers spend

The new challenges for 2024 peak season trends

Peak shopping season is upon us and new challenges have arisen this year. With increasing competition, economic pressures and a tighter timeline, 2024 is demanding more agility from brands.

These challenges have seen a change in consumer behaviour, shifting focus from brand loyalty to value and convenience. As spending extends beyond retail, businesses that adapt quickly and align with evolving expectations will be best positioned to thrive.

Google recently held its annual Peak Season Summit revealing data around Australian consumers holiday shopping habits. We examine that information and provide some recommendations on reaching these users successfully at the busiest time of year.

Shoppers are now planning ahead

As of August 2024, a third of Australian consumers (32%) had already begun their holiday shopping. Early shopping behaviour spreads out demand, making it harder for brands to attract last-minute shoppers during traditional peak periods like Black Friday or Christmas. This forces businesses to compete for visibility even earlier.

Peak season spending is no longer ‘reserved for retail’

Traditionally associated with retail, Black Friday and peak season promotions are now becoming key opportunities for non-retail sectors to capture consumer attention and spending.

• 35% of Australians recall seeing advertising for Black Friday sales outside of traditional retail categories e.g. hotels, flights

• 28% of Australians say they made a Black Friday purchase from one of these ‘non-traditional’ categories

• 81% YOY increase in searches for Black Friday flights

• 114% YOY increase in searches for Black Friday hotels

Consumers are more mindful when making purchases

Providing clear value will become even more important as shoppers take longer to finalise purchases:

• Spending more time making decisions (30% AU vs 30% globally)

• Doing more research on purchases (35% AU vs 32% globally)

• Making fewer impulse purchases (44% AU vs 40% globally)

However, nearly six in ten noted they would buy immediately if they were confident in the deal. Transparency in pricing and promotions is key. Brands must focus on building trust and ensuring that they are delivering value to reduce hesitation and drive conversions despite financial pressures.

With data indicating that shoppers are now less impulsive, businesses will need stronger value propositions to motivate buyers. Highlighting deals and savings through promotions will be critical to driving conversions. Data suggests that:

• 68% plan how much to spend (budget)

• 63% plan exactly what to spend on

Black Friday planning is happening earlier and earlier

People are starting to search for Black Friday as early as October. This shifts the window in which brands need to be “top of mind.” If competitors launch campaigns earlier, those who wait until traditional November periods risk being overlooked.

This year, there will be five days less between Black Friday and Christmas compared to 2023. A tighter timeline means that brands must execute faster fulfilment, offer more options like pickup, and last-minute deal campaigns. Additionally, businesses may need to promote second-wave campaigns immediately after Black Friday to sustain momentum.

Second choice? No problem

Being available is as powerful as being desirable. With one in three consumers choosing a second-choice brand just because it’s there, efficient inventory management and fast fulfilment become competitive differentiators.

Louder’s recommendation

Louder’s top three tips for reaching shoppers this holiday season are:

• Start your seasonal campaigns earlier than usual, September or October is ideal
• Adopt multi-channel strategies to stay competitive
• Provide clear value through discounts and product availability to cater to thoughtful consumers

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Source: Google Peak Season Summit 2024