As every year, Peak Season 2024 is set to be a crucial period for merchants, with key events like Black Friday and Cyber Monday generating a large portion of annual sales. In 2023, Shopify merchants hit a record $9.3 billion in sales during the BFCM weekend, a 24% increase from the previous year.
However, in a context increasingly focused on sustainability, it's essential for merchants to balance their sales strategies with responsible practices to create a positive impact on both consumers and the planet.
Peak Season Dates
For online sellers, it's essential to keep the key dates in mind:
- Black Friday: November 29, 2024
- Cyber Monday: December 2, 2024
- Other events include Amazon Prime Day, Singles' Day (November 11), and the holiday season.
Global Trends for 2024
The global context will significantly influence purchasing behavior:
- Inflation and Optimism: Despite concerns over inflation, events like Prime Day 2024 saw a 10.4% YoY increase in sales, a positive signal for the peak season.
- Cautious Spending: According to PwC, 72% of consumers will adopt saving strategies in the coming months, yet they will still seek high-quality shopping experiences.
- Sustainability: Interest in eco-friendly products is growing. Consumers are willing to pay 9.7% more for sustainable products, preferring options like carbon-neutral delivery, which are becoming key decision factors.
Italy-Specific Trends
In Italy, the rising cost of living is affecting spending power. 35% of consumers have a pessimistic outlook on the economy, and 50% of discretionary spending has decreased in recent months for half of Italian consumers [Source: Shopify Italy State of Commerce Report].
In a time of cautious spending, providing a high-quality shopping experience, both online and offline, is essential. Consumers expect benefits such as free returns (61%), special offers and loyalty discounts (39%), and various shipping (23%) and payment options (12%).
Another interesting point is product discovery—how Italian consumers become aware of a product. 85% of respondents said word-of-mouth is one of their top three sources of discovery, followed by TV, while younger consumers prefer social media channels.
Preparing for Peak Season
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Set Clear Goals: Start planning special offers and promotions that balance sales and sustainability. Consider flexible payment strategies like “Buy Now, Pay Later,” which has been shown to increase conversions by 30%.
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Sustainability First: Integrate eco-friendly solutions like carbon-neutral delivery. Offering sustainable products and environmentally respectful logistics can make a big difference for conscious consumers.
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Marketing and Content: Leverage user-generated content and influencer campaigns to tap into the power of social media.
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Omnichannel Experience: Ensure the shopping experience is seamless both online and offline, maintaining consistency in branding, pricing, and promotions.
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Logistics Optimization: Prepare for the increase in orders by developing a shipping strategy that includes sustainable options to attract eco-conscious consumers.
Promotional Strategies for Peak Season
Promotional strategies are extremely effective for attracting and retaining customers during the peak season and throughout the year. Here are some ideas:
- Personalized Discounts: Promotions like "Buy One, Get One" (BOGO) or Product Bundles can increase the average order value.
- Non-Discount Promotions: Implement initiatives that highlight sustainability, such as donations or using apps like Shopify Planet to reduce the environmental impact of deliveries.
- Loyalty and VIP Programs: Offer exclusive benefits to VIP customers, like free shipping, early access to new products, or double loyalty points during the Peak Season.
- Surprise and Delight: Surprise loyal customers with handwritten thank-you notes or hidden gift cards in their orders.
Conclusion
Preparing for Peak Season 2024 is not just about maximizing sales but also promoting sustainable practices that strengthen brand reputation and create long-term customer value. Companies that manage to balance these two aspects will be the ones to see lasting growth and more loyal customers.
If you need support to face this peak season in an ethical and sustainable way, NAMA is here to help you develop a winning strategy, aligned with the values we share. Sustainability is our priority, even during the busiest commercial periods.
Together, we can turn peak season into an opportunity for responsible and lasting growth.
