Holiday Consumer Confidence Is High
With less than a month away, holiday spending is going strong. Holiday consumer confidence is the highest that it’s been since 2018 and many shoppers plan to spend more than they did last year.
After a year of shutdowns, masks and social distancing, consumers are eager to spend and are comfortable returning to the brick-and-mortar stores. According to a new Roku and Harris Poll, one in three holiday shoppers expects to increase their spending this holiday season, the highest number since the survey’s creation.
Holiday consumer economic confidence is up. According to global consulting firm AlixPartners 2021 US Retail Holiday-Outlook Survey, 32% of consumers plan to purchase big-ticket items over $500 this season. Sales are forecast to increase 10% to 13% this holiday season over last, which would make this the strongest holiday period since 1999.
Consumers have more disposable income making it a perfect time to advertise your home improvement business. Plan your marketing across media that targets your ideal consumer.
The global pandemic increased electronic device usage resulting in a digital marketing exploding. Now consumers suffer from digital fatigue. Direct mail increased but not at the same over saturating rate as digital. Consumers still feel good about direct mail. In a recent survey, 72% of the people who feel positive about direct mail, said it was because there was a good deal on a product or service. They found the mailing relevant while 28% did not.
People are spending more time at home making direct mail more effective. 42.2% of direct mail recipients either read or scan the mail they get and up to 90% of direct mail gets opened, compared to only 20-30% of emails (Data & Marketing Association).
Tis the season to advertise. This is the perfect opportunity to gain customers. Make sure you are advertising to increase sales for the end of this year and well into 2022.