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1、Tis the Season for Driving ProfitabilityBenchmarks&Insights for Multichannel Brands to Convert Holiday Shoppers22024 Holiday Season OverviewIn an age of economic uncertainty,with many multichannel brands seeing shrinking margins and digital landscapes constantly changing,it is increasingly important

2、 to optimize marketing and media strategies towards profitability.This guide highlights key insights to help:Accelerate sales and market share by ensuring every consumer touchpoint is shoppable and equipping your teams with the right consumer,channel and retailer insights.Drive profitability and red

3、uce costs by gathering first-party data to enhance your marketing effectiveness throughout the holiday season.Set your brand up to succeed in 2025 by staying informed on the latest eCommerce marketing trends and best practices.Table of Contents03Holiday 2024 Overview04Spend Trends05Channel Performan

4、ce Insights09Retailer Landscape 11Seasonal Dynamics&Key Dates14Best Practices3Consumers are spending less;top-line growth is crucialThe good news is,inflation is cooling in the U.S.,according to the Department of Commerce.However,the aftereffects of inflation continue to squeeze margins,leaving bran

5、ds with the challenge of driving top-line growth in a tough economic environment.Meanwhile,consumers are planning to spend less and save where they can.According to a survey from Transunion,36 percent of households intend to spend less on retail.Additionally,a report from Vericast showed that 66 per

6、cent of those planning to host holiday parties this year,are looking to save as much money as possible.So brands can successfully navigate these headwinds,this guide provides the latest benchmark data,trends and predictions for for generating new demand and driving profitability during Holiday 2024

7、and into the New Year.As we think about innovation,innovation doesnt always have to be that new disruptive innovation.But,a lot of innovation today in the world of inflation,in the world of strategic revenue management,and figuring out how we can offset some of that without taking price increase aft

8、er price increase is really thinking strategically about our products,the packaging,the sizes,the different flavors and what makes sense.LISTEN HEREVeeral ShahHoliday 2024 Overview4Since 2022,Basket Sizes have become smaller each year,meaning consumers are buying fewer items per online shopping trip

9、.Now,more than ever,it is important to continue moving your supply.Partner with an eCommerce analytics software like MikMak to find real-time efficiencies in your strategy.Basket sizes are shrinking as consumers feel the aftershocks of inflationAverage Basket Size7.7 items2023Average Basket Size6.1

10、items2024Average Basket Size9 items2022Spend Trends5Channel Performance InsightsDespite headwinds,leading brands are increasing ad spendAccording to the latest dentsu Global Ad Spend Forecasts,advertising spend is estimated to increase 5.0 percent globally this year.Quarter-over-Quarter,MikMak has s

11、een a 34 percent increase in eCommerce media traffic.Where are brands spending that money?Brands show the biggest lifts in investment across Social Commerce and Shoppable Video YoYShare of eCommerce Traffic by Channel Type,2024 +7.2%+5.2%-13%+2.5%-1.5%-0.5%Percent Change YOY2024“Any time when the re

12、st of the market is doing badly,if youre in a position,if youre financially able to invest,its a great time to gain share.This is what a lot of companies learned during the pandemic that it was a time to gain market share.And you can find bargains in the media world because nobodys spending.So its a

13、 buyers market.”Sucharita KodaliLISTEN HEREPurchase Intent Clicks:The number of times a shopper has clicked through to at least one retailer during a single sessionCommerce Load:The number of times a MikMak Commerce Experience is opened*Measured by Commerce Loads6Brands see the highest Purchase Inte

14、nt Rates on MikMak Commerce-enabled Brand WebsitesLikelihood of Conversion by Channel Type*Measured by Purchase Intent RatePurchase Intent Rate:The percentage of shoppers who opened a MikMak Commerce experience then clicked through to at least one retailerMikMak Commerce for Brand Websites provides

15、the easiest implementation of omnichannel where-to-buy solutions,complete with customizable templates,filtering options and a wide array checkout options from the industrys biggest online and in-store retailer network.MikMak Commerce for Brand WebsitesREAD FULL CASE STUDYCustomer ExampleBioderma inc

16、orporated MikMak Commerce on its websites and social media to provide a frictionless path to purchase across 32 countries.+126%Increase in Purchase Intent Clicks from 2022 to 2023+109%Increase in Purchase Intent Rate from 2022 to 202319.6%Of Purchase Intent Clicks show offline purchase intent intere

17、st7As our data shows,brands invest in social more than any other channel type.This aligns with research from our partners at Bazaarvoice,which showed that 59 percent of shoppers prefer social media for product discovery.Heres what MikMak found specifically about social:Brands continue to invest in M

18、eta;TikTok shows growth despite potential ban in the U.S.2024Rachel Tipograph,MikMak CEO,speaks about recent earnings on Bloomberg TechnologyEXCLUSIVE INTERVIEW WATCH NOWShare of eCommerce Traffic by Social Channels +1.7%+6.1%+0.9%-5.9%+0.6%Percent Change YOY8Meta sees the highest likelihood of conv

19、ersion,compared to other social channelsPurchase Intent Rate by Social Channel,2024Garrison Brothers Distillery increased purchase intent by enhancing the shoppability of their ads and leveraging 1P data to optimize their media mix.Customer ExampleREAD FULL CASE STUDY9%Higher Purchase Intent Rate on

20、 FB/IG(most popular category platform),than the Spirits category average2.3xHigher Purchase Intent Rate in Paid Search than on FB/IG3.3xHigher Purchase Intent Rate in Email than on FB/IG9Retailer LandscapeWalmart is the top retailer;Instacart continues to growMikMak has also recently reported on Ins

21、tacarts growth over the years,showing that consumers value the convenience of last-mile delivery.Offering these options can help drive last-minute sales before the holidays this year.According to the NRF,online and non-store sales are expected to increase between 7 and 9 percent in 2024,which is 4.5

22、 to 5.5 percent more than they forecast overall sales to grow.Empowering consumers to discover your products and checkout at their preferred retailer is instrumental to sales in todays landscape.Shoppers are favoring Walmart as their retailer of choiceAccording to EMarketer,Walmart is the top retail

23、er,based on sales,in the U.S.MikMak sees this as well,with 38.2 percent of Purchase Intent Clicks being driven to Walmart.eCommerce Traffic by Top 5 Retailers*Measured by Share of Purchase Intent ClicksChannel x Retailer Mix by CategoryTop Retailer and Social ChannelsTop Retailer by Share of Purchas

24、e Intent ClicksTop Social Channels by Purchase Intent Rate/Likelihood of Conversion1.2.3.GROCERY1.2.3.ALCOHOL1.2.3.PERSONAL CARE1.2.3.BEAUTY1.2.3.TOYS1011Seasonal Dynamics&Key DatesThe two weeks before the Christmas holiday are expected to see the most eCommerce trafficLooking at last year,the two w

25、eeks leading up to Christmas saw the most traffic,while Purchase Intent Rates(a metric MikMak uses to measure a consumers likelihood to convert)were highest earlier in the season.This year,with Thanksgiving later in the year,shoppers will have a shorter time frame to shop and take advantage of Black

26、 Friday and last-minute deals.Share of Purchase Intent Clicks by Date,2023Purchase Intent Rate by Date,202312/14-12/23-Sees The Most Traffic12/31-New Years Eve12/25-Christmas Day10/31-Halloween11/24-Black Friday11/23-Thanksgiving11/27-Cyber Monday12/7-First Dayof HanukkahPurchase Intent PeakTuesday,

27、Wednesday,and Thursday are the top purchasing days across categoriesTop Days of the Week by Category by Purchase Intent Rate1.Thursday 2.Wednesday3.Tuesday4.Monday 5.Friday1.Thursday2.Wednesday3.Tuesday4.Friday 5.Monday1.Tuesday2.Wednesday3.Thursday4.Monday5.Saturday1.Tuesday2.Wednesday3.Thursday4.F

28、riday5.Saturday1.Tuesday2.Wednesday3.Thursday4.Monday 5.Friday12GROCERYALCOHOLPERSONAL CAREBEAUTYTOYSBeauty,Personal Care,and Alcohol are more likely to be purchased in the evening;Grocery and Toys in the afternoonTop Hours of the Day by Category by Purchase Intent Rate1.2 PM ET2.1 PM ET3.3 PM ET4.4

29、 PM ET5.11 AM ET1.7 PM ET2.8 PM ET3.6 PM ET4.5 PM ET5.10 PM ET1.10 PM ET2.9 PM ET3.8 PM ET4.11 PM ET5.7 PM ET1.10 PM ET2.9 PM ET3.1 PM ET4.2 PM ET5.8 PM ET1.1 PM ET2.12 PM ET3.2 PM ET4.9 PM ET5.10 PM ET13GROCERYALCOHOLPERSONAL CAREBEAUTYTOYS14Best PracticesWith the 2024 Holiday Season approaching qu

30、ickly,now is the time for brands to strategically enhance their digital presence to drive profitability.Now that weve looked at the insights,here are some best practices to help your brand optimize the holiday shopping experience,boost conversions,and secure long-term growth.Leverage eCommerce enabl

31、ement and analyticsEnable Shoppable Media with a partner like MikMak.When your consumer is interested in a product,the shortest path to purchase is through their preferred retailer.Every step outside of the intended path to purchase opens up opportunities for your competitors to intervene.Get close

32、to the data by utilizing platforms like MikMak for comprehensive eCommerce enablement and analytics to seamlessly manage multichannel retail strategies and gain actionable insights.By gathering and leveraging first-party data,brands can enhance marketing effectiveness,personalize the shopping experi

33、ence,and ultimately drive profitability.MikMak Insights:Custom Report BuilderImprove marketing effectiveness by building custom reports with all of the desired metrics,dimensions,and filters you want,directly in the MikMak Insights platform.Optimize your brand websites to increase conversions:By imp

34、lementing MikMak Commerce for Brand Websites,you allow for the seamless integration of omnichannel where-to-buy solutions.This includes customizable templates,filtering options,and a wide array of checkout options from the industrys leading online and in-store retailer networks.Optimizing your brand

35、 websites in this way can create highly tailored shopping experiences,increasing conversion rates and customer satisfaction.15Continue to invest in your brand,smartlyKeep spending.With basket sizes smaller and consumers aiming to spend less,the current economic backdrop emphasizes the need for brand

36、s to look for efficiencies in their marketing and media spend.The brands that can keep investing despite this backdrop will gain share and withstand the test of time.Diversify Ad Spend across various channels and stay informed about potential regulatory changes.Adopting more transparent and data-dri

37、ven retail media strategies will be essential.Maximize your brands social commerce opportunities.Continue investing,particularly on platforms like Meta and TikTok,where there is significant potential for growth and consumer engagement.MikMak Commerce for Retail MediaOptimize for retail media.Bypass

38、the landing page and lead shoppers straight from your ad to the retailer PDP of your choosing,reducing the number of clicks a shopper makes,while still collecting all the same data and insights expected from MikMak.MikMak Commerce for Retail Media provides consistent and real-time reporting of retai

39、ler-specific performance data alongside national media investments including paid search,influencer media,display,video and more;empowering brands with the information needed to properly adjust and scale their retail media strategy.16Enhance shopper convenience with strategic partnerships:Tap into Q

40、uick Commerce and last-mile delivery options.This year,MikMak observed a significant rise in consumer demand for services like Instacart.By incorporating last-mile delivery options like Instacart and Doordash into your media and brand websites,you enhance the shopping experience.Strengthen retailer

41、relationships.Keep a close eye on where your products are most popular and direct traffic to the best-performing retail partners,ensuring higher conversion rates.Consider using tools like MikMak Custom Retailer Allocation to achieve this.You can also use proprietary,retailer-specific consumer insigh

42、ts from MikMak in joint planning discussions to unlock shelf space and media valueMikMak is the first eCommerce enablement and analytics platform to integrate directly with DoorDashMikMak launches first-of-its-kind integration for brands,enhancing shopper convenience and providing closed-loop sales

43、attribution.Access DoorDashs retail partner network of 1,000+retailers with 84,000+store locations in the United States,Canada,and AustraliaLearn more about our latest product enhancements.17Implement scalable tools and platforms for global efficiencySave time and money companywide.One easy-to-use g

44、lobal platform like MikMak,complete with full-service and self-service tools,automatically enables consistent reporting and fast decision-making across the entire organization.Our platform empowers you to build,design,and customize eCommerce websites and media experiences,all backed by MikMaks best-

45、in-class global retail network,inventory data,and sales attribution.MikMak Commerce:Headless Commerce API in Self-ServiceMikMaks Headless Commerce API is now completely configurable through our Platforms Self-Service Tools helping you save time when deploying customized commerce experiences powered

46、on the backend by MikMak“MikMak has been an instrumental partner throughout our digital transformation,especially across the IT,Marketing,Product,and eCommerce teams here at Mark Anthony Group.Were an agile organization that moves fast,so one of the main reasons we chose to partner with MikMak over

47、other providers is that theyre constantly innovating.”Nuno Pedro,Mark Anthony Group18Evolve your brand to thrive in the“Commerce Intelligence Era”As Gen Z turns 30 in 2025 and gains buying power,brands must adapt to stay competitive by using digital commerce intelligence and first-party consumer ins

48、ights.MikMak provides access to real-time data on consumer shopping behavior,allowing you to optimize your campaigns effectively.Launch of the iPhone and first Facebook ad purchased2007Commerce Media Era2020-24Brands are being built using commerce data firstCommerce Intelligence Eracome 2025Brands w

49、ill be built on top of real-time consumer data that shows how we shop,how we identify,what our needs and wants are,and what causes us to buy or not.Pre Social Media Erapre 2007Brands were built top-downSocial Media Era2007-19Brands were built using social product-consideration data first19Know the l

50、atest tips,tricks and trends for reaching Gen Z this holiday season1.Offer Discounts.According to Bazaarvoice,Gen Z is the most likely to be influenced to purchase a holiday product online when the website provides them with a discount code,at 67 percent of respondents surveyed.2.Use AI as a tool,no

51、t a replacement.The survey further showed that Gen Z is the most likely to say theyve seen AI-generated content on social media at 67 percent.However,even though Gen Z was the most likely to care if a brand posted something completely AI-generated during the holiday season(38 percent said yes),theyr

52、e also the most likely group to say AI usage has at least somewhat of a positive impact on purchasing from that brand,at 37 percent.3.Gen Z prefers highly personalized,interactive content.Bazaarvoices findings showed that Gen Z is the generation most likely to seek out creator content on social medi

53、a during the holidays,at 17 percent.The research also shows that Gen Z is most likely to make impulse purchases.Gen Z finds personalized content more engaging during the holiday season(at 54 percent),and will be more likely to interact with a brand during the holidays if they are prompted to do so;this interaction primarily includes the use of polls,giveaways,and interactive postsBazaarvoicesSleigh The Holiday SeasonLEARN MORE20All data and insights from this guid