The most celebrated holiday of the year is ahead, and eBay sellers all over the world are getting ready for the sales boost that always accompanies Christmas. However, to make the most out of the holiday season, one needs to understand their buyers’ mindset and the current spending trends. Here’re useful insights you can use in the upcoming months.
Christmas Day, Boxing Day, and New Year’s Eve are the key dates of the peak season. This period is traditionally associated with big discounts and skyrocketing sales.
The recent surveys show that the festive spirit is still alive despite economic pressures, inflation and the rising cost of living. Consumers adjust their spending habits to offset the increasing prices: they cut down non-essential expenses to save money for gift-giving and socializing. In the months before the holiday season, many people skimp on eating out, streaming services and clothes. But after all this austerity, they will be ready to splurge! Both in the US and in Europe, young people that belong to Gen Z have the strongest intent to splash out.
So, according to Deloitte and PwC statistics for the Christmas season last year:
of shoppers expect more holiday deals
worry about affordability of gifts
will continue hunting for deals after Christmas
Holiday and Seasonal
plan to spend the same as in previous year or more this holiday season
Consider key trends in consumer behavior when building your inventory and developing promotional strategies for the Christmas season:
It’s important to remember that different age groups have different approaches to pre-Christmas spending. If you understand how and why they’re using ‘holiday money’, you’ll be better able to appeal to them in your item descriptions and ad campaigns.
Millennials (35-44) have the biggest spend potential among eBay buyers. Their main priority is to shop for others rather than for themselves. Members of this group buy lots of gifts, host Christmas parties and dinners, plan holiday activities in the majority of households. Only 15% of millennials use their holiday spend to buy their own apparel and accessories.
In December, these product groups are likely to be on the peak of popularity according to eBay’s analytical data:
The approach to gift-giving has shifted from extravagance to meaning. In the UK, about two thirds (64%) of those surveyed claim that thoughtful gifts bring more joy than expensive ones .
In general, colder temperatures before Christmas make people think about warm and cozy gifts: heated blankets, warm clothes, fuzzy throws, thermal flasks, and such. It’s especially true for European countries where energy bills are growing relentlessly. For example, 37% of consumers in the UK plan to buy items that will help them get through longer periods without heating.
In the attempt to save money, consumers are more likely to socialize at home instead of eating out or going to a recreational venue. In the UK, 36% of those surveyed say they will meet with their friends at home, and about half of respondents are going to dine at home more. Which means they need homeware items for hosting holiday dinners and parties: wine glasses, dinner sets, utensils, tablecloths, etc. These items always show a spike in interest before Christmas.
For example, in the UK one in five consumers plan to have a Christmas getaway. Some of them are going to visit friends or relatives, others head to warmer countries or winter destinations. In any case, they will need items for traveling such as suitcases, neck pillows, travel kits and such. And, of course, they will purchase clothes and items for their vacation: be that cold clothes and footwear or bikinis and sunscreen.
In Europe, small and medium-sized businesses (SMBs) can benefit from the transition of homeware and decor shopping to e-commerce. In the UK and Germany, which are generally representative of general EU trends, over 50% of shoppers make most of their purchases in this category via online channels.
European shoppers make 2-3 times more purchases of smaller home decor right before Christmas.
eBay sellers can attract environmental-conscious buyers by providing sustainable alternatives to mainstream products by large retailers. 65% of German and British buyers say that they consider sustainability important or very important for their purchase decisions . Artisans and vintage sellers on eBay can satisfy the demand for unique, one-of-a-kind items.
Craft-inspired buyers that value high quality and aren’t too thrifty
Those who seek creativity and unique style
Environment-conscious shoppers who seek refurbished or upcycled products
Price sensitive customers who shop for DIY projects