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Report: Holiday spend shouldn't end December 24
Criteo has released their Holiday E-commerce Trends Report: Outlook for 2017, and among the more interesting findings is this: retailers shouldn't stop their holiday spending on December 24.
Criteo has identified a new trend in holiday shopping - the Regifting Week. Researchers note that between December 26 and January 1, more shoppers are hitting stores to either return/exchange merchandise or put gift cards to use. Because of this trend, they suggest that retailers continue holiday campaigns - and deals - through the week after the Christmas holiday.
"The 2016 holiday shopping season showed double digit gains in both shopping and purchasing. This analysis of holiday shopper behaviors shows that we're moving beyond single day-based peaks into multi-day waves that call for an "always on" strategy in paid search media," says John Roswech, EVP, Criteo Brand Solutions at Criteo. "A solid strategy includes both specific search keywords plus broader categorical ones so that brands maximize reach of shoppers. Criteo's technology ensures that brands can reach in-market customers with ads relevant to both the shopper and the context. Retailers generate incremental revenues through paid search that helps them remain competitive in the ecommerce ecosystem."
As to what these results mean as retailers begin planning for the 2017 holiday season, Criteo's team reminds brands that consumers are searching via desktop and mobile devices, but also through voice search - via SIRI, Google Home, Amazon Alexa - so keep those options open in search. They also suggest retailers begin now using an 'always on' strategy - because, as seen in 2016, consumers were buying last-minute and opting for faster shipping methods.
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