Tis the season to go shopping #occasionalspending

Our seasonal calendars are peppered full of interesting dates and events which are gradually becoming more and more commercialised before our very eyes. No sooner than the tinsel is packed away for another year we are faced with shelves upon shelves of Easter eggs and gifts for an event that is still months away.  As a consumer this can mean you feel pressurised into celebrating holidays you wouldn’t normally and ultimately spending money you don’t have.  A new survey of 1000 UK consumers, conducted by Swift Money, has revealed 68% of people said there are societal pressures to buy for more calendar events than they would like to.  52% of women ‘Always’ or ‘Occasionally’ save money for gifts, whereas 63% of men will ‘Rarely’ or ‘Never’ save, which doesn’t surprise me as Daddy Moo is always buying Christmas gifts last minute! (I mean come on you have a whole year to buy them, why wouldn’t you wait until December 23rd).

#OccasionalSpending

How is #OccasionalSpending good for Business? : 

Seasonal gifts and specific dates in our calendar can make the difference between a booming business and a business getting by.  Planning your marketing calendar early is key. Ever heard of Christmas in July? July is when brands stage events in order to promote, tease and set what will be the big thing this Christmas.  Back to School happens in June/July (yes before the children even break up!) and if you really want you can get your hands on green filled cakes and spider shaped Halloween crisps in August you can. Retailers and brands are promoting their seasonal products earlier and earlier and independent small businesses need to get on board too.

Key Facts : 

  • Make a comprehensive list of events, dates, gift giving opportunities – don’t forget things like end of term Teacher gifts.
  • Plan early. Know what your promotion will be, take the images, make the graphics don’t leave things till the last minute.
  • Valentine’s Day is the second biggest card sending holiday, start promoting gifts in January, start creating them in August.
  • The survey revealed 56% of people buy their gifts online, using social media, website promotions and promotional images you can put your seasonal products in people’s minds weeks in advance.
  • Food and drink is the most popular gift given at Christmas (38%) followed by wearables (jewellery, perfume, clothes) (28%). Most craft based business hit one of those categories consumables or wearables, meaning Christmas is one of the key events in your sales calendar. Think also about personalisation and bespoke options too.
  • Create a sense of urgency. Have a count down or a limited special offer.

How well do you do in the seasonal gift market?

swift money occasional spending

Photo Credit : Shutterstock

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