Loading...

2024 holiday shopping trends: How each generation will spend

Published: October 9, 2024 by Hayley Schneider

Three generational shopping trends

The holiday season is almost here, and knowing how each generation plans to shop can give your holiday advertising campaigns the edge you need. Our recent survey of 1,000 U.S. consumers reveals 2024 holiday shopping trends for each generation and key insights into their anticipated spending levels, preferred shopping categories, and how they look for gift ideas.

In this blog post, we’ll explore three 2024 holiday shopping trends across generations:

  1. Projected consumer spending
  2. Top categories on shoppers’ lists
  3. Preferred channels for researching gifts

1. Projected consumer spending

Over 1 in 3 Gen Z and Millennials are gearing up to increase their holiday budgets this year, while Gen X and Boomers are likelier to stick to last year’s budget.

  • 36% of Millennials and Gen Z plan to spend more this holiday season
  • 45% of Gen X and 52% of Boomers expect their spending to remain consistent with last year
A chart that shows anticipated holiday shopping spend by generation for 2024 compared to 2023.

What this means for marketers

These insights highlight the importance of tailoring your messaging. For Gen Z and Millennials, emphasize value and unique offerings that justify increased spending. For Gen X and Boomers, focus on trust and reliability, reinforcing their confidence in your brand.

How Experian can help you target these audiences

Experian’s custom and syndicated audience segments, including Holiday Shopper High Spenders and Holiday Shopper Moderate Spenders, enable you to connect with these diverse consumer groups. Our audiences are available on-the-shelf of leading ad platforms to help you reach people across social, TV, and mobile.

The election effect

U.S. holiday retail sales saw 4.1% YoY growth in 2016 and 8.3% YoY growth in 2020 following presidential elections. There’s a chance that holiday spending increases after the 2024 election, regardless of the outcome. Experian has 240+ politically relevant audiences that you can activate across major ad platforms ahead of the upcoming election.

2. Top categories on shoppers’ lists

Different generations have distinct preferences when it comes to what they plan to buy. Gift cards top the list for Gen X and Boomers, while Gen Z leans toward clothing. Millennials are looking to splurge on toys, electronics, and experiences.

  • 69% of Boomers and Gen X plan to purchase gift cards
  • 72% of Gen Z will buy clothing
  • 45% of Millennials will buy health and beauty items
  • 25% of Millennials will buy tickets and 22% of Millennials will buy experiences
A chart that shows anticipated holiday shopping purchases by gift category and by generation

What this means for marketers

Align your product offerings and promotions with each generation’s preferences to capture their attention. For example, highlighting versatile gift cards may resonate more with older generations, while showcasing trendy apparel and tech gadgets will appeal to younger consumers.

How Experian can help you target these shoppers

We offer audience segments like Holiday Shoppers: Apparel, Cosmetics & Beauty Spenders, and Toys Shoppers that you can activate to connect with consumers primed to purchase in these categories.

We recently released 19 new holiday shopping audiences we recommend targeting to drive engagement and conversions. Download our audience recommendations here.

3. Preferred channels for researching gift ideas

When it comes to finding the perfect gifts, Gen Z turns to social media, while Millennials prefer online reviews and video content. Boomers and Gen X are more inclined to visit physical stores for hands-on product evaluations.

  • 29% of Gen Z and 26% of Millennials will look for gift ideas on social media
  • 44% of Millennials will rely on video reviews and product demos on platforms like YouTube
  • 49% of Gen X and Boomers plan to visit physical stores to evaluate products in person
A chart that shows product research behaviors while holiday shopping by generation

What this means for marketers

Understanding where each generation looks for inspiration can guide your content and ad placement strategy. To engage Gen Z, focus on social media campaigns and influencer partnerships. For Millennials, consider investing in video content and reviews. For older generations, ensure your in-store experience is optimized to convert browsing into purchases.

How Experian can help you engage these shoppers

Our TrueTouchTM audiences can help you pair the perfect messaging styles with the right channels and calls to action. Our Social media channel and content engagement audiences can help you reach Gen Z who are likely to be active users on major social platforms and are Black Friday shoppers. For a full list of Experian’s syndicated audiences and activation destinations, download our syndicated audiences guide.

Download our report for five 2024 holiday shopping trends by generation

Understanding 2024 holiday shopping trends by generation can help you tailor your targeting, messaging, media planning, and creative based on the generation you’re targeting.

In addition to the insights covered here, download our 2024 Holiday spending trends and insights report to learn:

  • When consumers plan to shop (hint: they’re already shopping)
  • Where they plan to shop (online vs. in-store)

Download our full report to access all five of our predictions by generation, so you can address the diverse needs of this year’s holiday shoppers.

When you work with Experian for your holiday shopping campaigns, you’re getting:

  • Accurate consumer insights: Better understand your customers’ behavioral and demographic attributes with our #1 ranked data covering the full U.S. population.
  • Signal-agnostic identity solutions: Our deep understanding of people in the offline and digital worlds provides you with a persistent linkage of personally identifiable information (PII) data and digital IDs, ensuring you accurate cross-device targeting, addressability and measurement.
  • Secure connectivity: Bring data and identity to life in a way that meets your needs by securely sharing data between partners, utilizing the integrations we have across the ecosystem, and using our marketing data in flexible ways.

Make the most of this holiday shopping season with Experian. Contact us today to get started.

Source

Online survey conducted in June, 2024 among n=1,000 U.S. adults 18+. Sample balanced to look like the general population on key demographics (age, gender, household income, ethnicity, and region).


Latest posts

Loading…
Verizon to close email service: 5 steps to keep valuable email subscribers

Verizon announced that they will be closing down their email business and migrating users to AOL over the next few months. With such an impending deadline it is important for email marketers to take action and consider the following steps to keep valuable email subscribers. Create a separate segment of all Verizon email addresses in your email automation platform. This will give insight into the size and ratio of this segment compared to your overall subscribers and helps you determine your strategy on acquiring their new email address. In your email campaigns make sure to use direct language in the subject line, the pre-header and header banner requesting that users update their email address either in a preference center or for them to create a new account If possible, make sure to link both the Verizon and new email address in your data-set to ensure that they are not treated as new when receiving future communication. As part of your email campaign strategy, be sure to target those who have not yet opened the email. We recommend sending two follow up emails using the previously created banners, and altering the subject line to encourage subscribers to take action. It is important to note that Verizon service users have been advised that they will keep their @verizon.net email domain if they switch over to AOL. If the user does not opt-in to the AOL service, then their email will be shut down and will subsequently bounce – if this happens then these should be removed from your dataset accordingly. For more information check out Verizon’s website here. If you are a client and have additional questions, please contact your manager or email us directly.

Mar 30,2017 by

Tricky triggers: Understanding shopping cart abandonment compliance

Globalization affects retailers in a number of ways. Complying with commercial laws wherever they have brick-and-mortar stores is one such impact. Navigating through privacy rules that impact e-commerce efforts is another. There is one blind spot in particular that deserves attention  — sending shopping cart abandonment emails. I am often asked, “How are abandonment emails treated under the CAN-SPAM Act? Canada’s stringent Anti-Spam Law (CASL)?” “Can I even send abandonment emails to my Canadian customers?”  What are cart abandonment emails?  But let’s back up… What is an ‘abandonment’ email anyway? In the email space shopping cart abandonment refers to a particular type of automated mailing used to re-engage an online customer. The most common example is one where a retailer notices that a customer has left an item sitting in their shopping cart, and proceeds to send a reminder with a coupon to complete the order.  To fully understand privacy compliance pitfalls with this technique, in the U.S. and beyond, we need to unpack what happens before the abandonment email is sent.  Email marketing shopping cart abandonment compliance   Abandonment messages are almost always ‘commercial’, particularly if they incentivize a shopper to complete their purchase. In compliance parlance, we call this encouraging the continuation of a commercial activity. In contrast, an order confirmation typically provides factual information about a commercial activity. Under most anti-spam laws, particularly under CASL, marketers need to ensure abandonment messages are not unsolicited. Triggering should account for:  Appropriate consent covering email marketing to new or ongoing online relationships.  Scrubbing the customer’s email address against your unsubscribe/suppression lists before sending a solicitous message. (This is true under any anti-spam law.)  For more information about CASL-compliant consent record keeping and related best practices, you can navigate to the Canadian Radio-television and Telecommunications Commission.   Maintaining compliance with online tracking   Abandonment emails rely on online retailers tracking their customers’ activity on their websites and tying online behavior back to the email addresses using the same behavioral targeting technologies as those used to deliver Interest Based Ads. This jump across engagement channels to remarket to customers can raise privacy concerns, so online retailers need to pay attention to their privacy compliance obligations.  Cross-channel marketing privacy protections   Guidance covering privacy policies and practices issued by the Federal Trade Commission are informative and I encourage you to review these with your law department. If you operate outside the U.S., privacy protection laws like Canada’s Personal Information Protection and Electronic Documents Act (PIPEDA) may set out additional obligations with your cross-channel marketing efforts.  PIPEDA’s definition of commercial activity, which includes remarketing  Privacy Commissioner’s findings under PIPEDA in relation to remarketing  Privacy Commissioner’s guidance on online behavioral advertising, the technology of which informs triggered emails  Under PIPEDA and similar international privacy regimes, cross-channel marketers will need to (i) clearly and conspicuous inform website visitors that their online activities may result in personalized marketing, (ii) offer a way to opt-out of such tracking, and (iii) obtain individuals’ prior express consent with tracking involving sensitive personal information such as health data  How to manage cross-channel marketing compliance risks   As privacy protection regimes around the world continue to mature and absorb rules covering marketing, online retailers need to start adding new vocabulary to their privacy compliance lexicon.  For example, shopping cart abandonment efforts produce ‘cross-channel re-marketing campaigns triggered by an identifiable individual’s online behavior.’ While this is a mouthful to say, viewing your engagement efforts through this lens will help you manage compliance risks.     Experian can help you navigate compliance risks Our privacy-first approach to data is trusted across industries around the world. As a leader in the industry, we are here to help you leverage the power of data while maintaining the highest standards of consumer privacy compliance and legal guidelines. With almost 30 years in business, we are here to help you confidently create and launch data-driven marketing strategies. Contact us today to get started! Please note: Cross-Channel Marketing does not give legal advice on electronic marketing regulations or privacy laws. To mitigate risk to your business, please consult with your legal counsel on the law and your corporate policy.

Mar 20,2017 by Experian Marketing Services

Signal and Tapad, now part of Experian, partner to expand customer reach across devices

Partnership combines customer connections and cross-device scale to deliver more strategic customer insights NEW YORK AND CHICAGO — March 16, 2017 — Signal, the global leader in customer identity, today announced a partnership with Tapad, now part of Experian and the leading provider of unified, cross-screen marketing technology solutions. This global integration extends device connectivity for Signal’s clients across North America, APAC and EMEA by leveraging Tapad’s proprietary Device GraphTM. With Signal’s Customer Identity Solution, brands benefit from more visibility of known customers, lower costs to reach those customers and decreased expenses and data loss that often results from using multiple vendors. Integrating with Tapad’s Device Graph, which connects billions of devices, enables Signal clients to build an even broader view of their known customers across multiple devices. This integration combines Signal’s customer identity scale with Tapad’s device scale to expand the reach of addressable media channels and enhance customer journey insights across touchpoints. Tapad and Signal were able to drive incremental device connections for more than 65 percent of customer profiles, linking an average of 6.8 browsers and devices per customer. With this combined data set, Signal clients can expand their authenticated view of a customer to all associated devices and realize more strategic insights into their high-value users. The partnership also allows Signal’s clients to integrate in real-time with Tapad’s media platform, Unify. This proprietary technology enables advertisers to make real-time activation and buying decisions with maximum scale, as well as automated reporting and measurement. “Continuously recognizing customers across devices instantly and in a privacy-safe way is essential for marketers to stay competitive,” said Marc Kiven, founder and CRO of Signal. “We are thrilled to enter this unique, global partnership with Tapad, enabling our clients to access their technology and more effectively reach customers in real-time and at scale.” “Being able to leverage a persistent view of customer connections across devices is a huge challenge for brands,” said Pierre Martensson, SVP and GM of Tapad’s global data division. “With Tapad, Signal is now able to connect with the billions of existing data points in our device graph to help clients better understand customer behavior and realize even stronger customer engagement.” Contact us today

Mar 16,2017 by Experian Marketing Services

Subscribe to our newsletter

Enter your name and email for the latest updates

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

About Experian Marketing Services

At Experian Marketing Services, we use data and insights to help brands have more meaningful interactions with people. As leaders in the evolution of the advertising landscape, Experian Marketing Services can help you identify your customers and the right potential customers, uncover the most appropriate communication channels, develop messages that resonate, and measure the effectiveness of marketing activities and campaigns.

Visit our website

Subscribe to our newsletter

Stay up to date on the latest industry news and receive expert tips from our marketing experts.
Subscribe now!