The holiday season is approaching, with its festive vibes and shopping frenzy. Traditionally, Black Friday and Cyber Monday provide a great opportunity for eBay sellers to increase their sales. The recent survey shows that 71% of consumers will start making pre-Christmas purchases on online marketplaces. And eBay is one of the top three destinations for holiday shopping and bargain prices
However, if you want to make the most out of the holiday season, it’s crucial to understand your customers’ mindset and be aware of consumer behavior trends. Here you’ll find some useful insights that will help you prepare for Black Friday, Cyber Monday and the peak season in general.
Black Friday refers to the Friday after the Thanksgiving holiday in the US. It traditionally marks the beginning of the Christmas shopping season, and stores announce special deals and big discounts on this day.
Cyber Monday is the first Monday that comes after Black Friday. It’s associated with great deals and discounts in online stores (while Black Friday used to be for brick-and-mortar shops). However, today both terms can be used for online sales.
If you manage to ride the wave of a powerful trend, your sales will rise exponentially. For instance, the increasing buzz before the release of the “Barbie” movie resulted in the mind-blowing 900% sales growth of collectible Barbie Signature dolls on eBay. Now, after the huge success of the movie, the demand for Barbie dolls, Barbie-style accessories and apparel may grow even higher.
eBay has analyzed 2022 purchase behaviors to help sellers prepare for the 2023 peak season. Consider these insights when stocking up:
of holiday shoppers expect to spend more than planned on holiday-related expenses this year.
Toys and Games
Health and Beauty
Holiday and Seasonal
Consumer electronics: eBay refurbished
We’ve prepared a brief overview of consumer behavior trends so that you could meet buyers’ expectations this peak season.
McKinseys’ study shows that about two thirds of customers are choosing less expensive brands or private-label goods in an effort to save money. In European countries, this percentage comprises 84%. Chinese consumers are less inclined to trading down, but they are actively looking for discounts and promo prices.
At the same time, though it may seem contradictory, 44% of consumers declare that they plan lavish spending when it comes to experiences (such as traveling or eating out) and instant gratification purchases. For millennials and Gen Z, it’s as much as 60%.
Tip: Black Friday and Cyber Monday buyers will be looking for discounts, so plan your sales events in advance. However, avid collectors and hobbyists may be willing to spend quite a lot on rare, vintage, or limited edition items.