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1、October 2023Looking Ahead:Lessonsfrom the 2022 HolidaySeasonDive into the data to find out whats in store for retailers thisholiday season,and what brick-and-mortar chains can do tomake the most of the busiest quarter of the year.1Table of ContentsDiving into the Holiday Season3Tis the Season to Go(
2、Grocery)Shopping4Value Grocers Win Turkey Wednesday5Chilling In-Store on“Christmas Eve Eve”6Superstores,Discount Chains,and Shopping Sprees7Uncovering the Shoppers Behind Holiday Visit Spikes9Five Belows Growing Holiday Appeal10Bargain Hunting Across Chains12All-Day Breakfast Chains for the Christma
3、s Win13Christmas Waffle Cravings14A Season of Opportunities15Key Takeaways16 2023 Placer Labs,Inc.|More insights at placer.ai|2Diving into the Holiday SeasonStill-high prices and economic uncertainty continue to weigh on consumer confidenceheading into the 2023 holiday season.But though Americans ar
4、e keen on savingmoney,surveys show that consumers still prioritize gift giving and fully intend to ponyup for presents and other indulgences that make the holidays enjoyable.Traditionally,Q4(October through December)is retails strongest quarter and aftermonths of tightened purse strings and reduced
5、discretionary spending,shoppers mayrelish the opportunity to let loose and splurge a little.So whats in store for brick-and-mortar retailers this holiday season?What lessons canbe learned from last year when inflation was at its peak?And how can leading chainsmake the most of the busiest time of the
6、 year?This white paper dives into the data to explore some of the key trends that shapedthe 2022 holiday season and that may continue to impact consumer behavior thisyear.The report,produced in partnership with Spatial.ai,harnesses location 2023 Placer Labs,Inc.|More insights at placer.ai|3intellige
7、nce and audience segmentation analysis to reveal the habits andcharacteristics of offline shoppers during the holiday season.Tis the Season to Go(Grocery)ShoppingThe first big shopping day of the holiday season is Turkey Wednesday the daybefore Thanksgiving,when people converge on grocery stores nat
8、ionwide to stock upon birds,cranberry sauce,and other holiday delicacies.On a typical week,grocery stores are busiest on Saturdays and Sundays,and quietestmid-week.But as Thanksgiving approaches,this pattern is upended.Foot traffic datafor Q4 2022 shows that grocery visits begin to trend upwards a f
9、ew days before theholiday,and reach a frenzied crescendo on Turkey Wednesday the busiest groceryshopping day of the year.In 2022,grocery chains saw a whopping 83.7%more visitson Turkey Wednesday than on an average day in Q4 2022.Another big day for grocery chains is the day before Christmas Eve.Chri
10、stmasshopping is most commonly associated with gift-buying but foot traffic data revealsthat“Christmas Eve Eve”is not just a Friends meme:Its the second-busiest day forgrocery chains year-round.While not quite reaching the harried peak of TurkeyWednesday,December 23rd,2022 experienced 62.6%more than
11、 the Q4 2022 grocerystore daily average.2023 Placer Labs,Inc.|More insights at placer.ai|4Value Grocers Win Turkey WednesdayValue-priced grocery chains emerged as the 2022s clear Turkey Wednesday visitgrowth winners,and this segment is likely to outshine the competition this year aswell.Aldi the pop
12、ular European grocery chain famous for providing quality groceriesat low prices received 15.6%more visits on Turkey Wednesday 2022 than it did theprevious year.And WinCo,another no-frills grocery store that keeps prices low byavoiding credit cards and leaving customers to bag their own purchases,rec
13、eived13.4%more visits on Turkey Wednesday 2022 than in 2021.The exceptional performance of these value-oriented brands should come as nosurprise.Price was top of mind for many consumers last holiday season,as runawayfood-at-home inflation led shoppers to seek out cheaper baskets.And with value still
14、a major concern this year,low-cost chains appear poised to win Turkey Wednesdayonce again.At the same time,foot traffic data also shows that many other chains includingregional brands like Giant,Hy-Vee,H-E-B,and others also experienced significant 2023 Placer Labs,Inc.|More insights at placer.ai|5ye
15、ar-over-year(YoY)visit growth last Turkey Wednesday.During the festive holidayseason,theres plenty of room for a variety of grocery chains to thrive.Chilling In-Store on“Christmas Eve Eve”The holidays dont just bring an increase in grocery visits 2022 data also suggeststhat shoppers also spend more
16、time browsing the aisles on“Christmas Eve Eve.”Atmajor grocery chains throughout the country,visitors spent 4.0%-14.8%longerin-store on December 23rd,2022 than they did during the first 22 days of the month.Some of this increased visit duration may be due to bigger crowds and longer lines.But holida
17、y cheer may also be at play,as people relax and take more time to browsethe aisles.Either way,longer dwell time offers retailers a prime opportunity tointeract with customers and increase basket size.Greater visit duration is also goodnews for the growing number of grocery chains that operate retail
18、 media networks 2023 Placer Labs,Inc.|More insights at placer.ai|6since more time in-store means more exposure to onsite advertising messaging bybrand partners.Superstores,Discount Chains,and Shopping SpreesSuperstores also draw huge crowds during the holiday season,as consumers seekout Black Friday
19、 deals and search for holiday gifts at a bargain.For category leaderslike Walmart and Target,the period between Thanksgiving and Christmas is thebusiest time of the year.And as the centrality of Black Friday wanes,“Christmas EveEve”is emerging as a major shopping day.Foot traffic data shows that vis
20、its to both Walmart and Target remained relativelystable on Black Friday 2022 relative to pre-pandemic 2019,although the retailers didsee an uptick in traffic relative to 2022.But on the day before Christmas Eve,2022visits really spiked,with Walmart and Target attracting 21.7%and 15.6%moreDecember 2
21、3rd visits,respectively,than in 2021.The two chains and Target in 2023 Placer Labs,Inc.|More insights at placer.ai|7particular also saw a sizable“Christmas Eve Eve”visit bump relative to December23rd 2019 traffic.December 23rds remarkable visit growth appears to reflect shifting patterns inholiday s
22、hopping.The extended holiday season sees retailers launching holidaypromotions well before Black Friday,which may be coming at the expense of thetraditional post-Thanksgiving retail traffic surge.But last-minute gift shopping stillneeds to be done in-store,which could explain why December 23rd visit
23、s are on therise.Still,the data also shows that Black Friday itself hasnt lost all its magic forsuperstores,which continue to draw crowds on the big sales day.2023 Placer Labs,Inc.|More insights at placer.ai|8Uncovering the Shoppers Behind Holiday Visit SpikesCalifornia is a major market for both Ta
24、rget and Walmart.And analyzing the capturedmarkets of leading Golden State venues with the PersonaLive dataset from Spatial.aican provide important insight into the audiences driving the two chains holiday visitspikes.In 2022,the captured markets of Californias top Target locations included greaters
25、hares of“Young Urban Singles”on Black Friday than on“Christmas Eve Eve”or thanduring the holiday season as a whole.For this demographic,which features singlesstarting out their careers in trade and service jobs,Black Friday deals on everythingfrom electronics to apparel can be particularly enticing.
26、During the same time period,the captured markets of top California Walmartlocations saw increasing shares of“Near-Urban Diverse Families”on the day beforeChristmas Eve.Members of this segment group,which includes middle-class diversefamilies living in urban or near-urban areas,may be driven to visit
27、 superstores onDecember 23rd in search of last-minute holiday bargains,to fulfill the decidedly 2023 Placer Labs,Inc.|More insights at placer.ai|9non-discretionary need of gifts for loved ones.By breaking down the audiences thatare likely to visit their stores at different stages of the holiday seas
28、on,retailers canbetter anticipate their needs and plan accordingly.Five Belows Growing Holiday AppealOther bargain retailers also thrived during last years holiday season,as consumerstraded down and sought to cut costs.Five Below,the discount retailer that specializes in toys,candy,and party supplie
29、s,experienced significant visit growth throughout 2022,propelled by shoppers seekingto indulge in affordable luxuries.And in December 2022 Five Below saw anastonishing visit bump with foot traffic up 203.2%compared to a January 2022baseline.With a whimsical vibe that invites customers to“let go and
30、have fun”,thechain appears to have cemented its role as a prime holiday shopping destination.Bycomparison,December 2022 visits to Dollar General where people are more likely tobuy everyday necessities were up just 36.5%compared to January 2022.2023 Placer Labs,Inc.|More insights at placer.ai|10Given
31、 its emphasis on discretionary items,it should come as no surprise that FiveBelows customer base tends to be more affluent than that of other leading dollar anddiscount stores,including Dollar General.And this trend continued during the holidayseason in December 2022,Five Belows captured market incl
32、uded a greaterproportion of high-income suburban audiences than that of Dollar General.2023 Placer Labs,Inc.|More insights at placer.ai|11Bargain Hunting Across ChainsThe distinct emphasis on value in 2022 also led some holiday shoppers to visitmultiple retailers to find the best bargains.Throughout
33、 much of 2022,Target shoppers were more likely than Walmart shoppersto visit Five Below a further reflection,perhaps,of the chains greater appeal formore affluent customers.But during the months of November and December 2022,both chains saw significant increases in the share of shoppers that patroni
34、zed FiveBelow and Walmart shoppers were the ones more likely to visit Five Below duringthis period.The uptick in cross shopping between the superstore leaders and Five Below inNovember and December 2023 especially for Walmart underscores the priorityconsumers place on value during the holiday season
35、.With so much buying to do,shoppers actively seek out bargain alternatives,and are willing to explore diverseretailers to secure the best deals.2023 Placer Labs,Inc.|More insights at placer.ai|12All-Day Breakfast Chains for the Christmas WinThe quest for affordable indulgences also made its way into
36、 the dining category in2022 with all-day breakfast chains emerging as Christmas Day favorites.All-daybreakfast chains are generally open 24/7 and tend to be less expensive than otherrestaurants.So when budget-conscious consumers are looking for something fun todo on the holiday,eateries like Waffle
37、House,Dennys,and IHOP are a naturaldestination.Foot traffic data shows that for some all-day breakfast chains including WaffleHouse and Dennys Christmas was the busiest day of 2022,with visits up 129.4%and 85.2%,respectively,compared to the 2022 daily average.For IHOP,Christmas daywasnt the busiest
38、day of the year,but it certainly was up there with 61.4%morevisits than an average day last year.And not only are people patronizing all-day breakfast chains on Christmas day morethan usual theyre also visiting them later in the day.On an average day in 2022,only 16.5%of visits to Waffle House took
39、place between the hours of 3:00 PM and9:00 PM.But on Christmas day,about one-third of visits took place during this timeframe.Dennys and IHOP experienced similar Christmas Day dinner bumps.2023 Placer Labs,Inc.|More insights at placer.ai|13Christmas Waffle CravingsWho are the customers behind the Ch
40、ristmas visit bump at all-day breakfast chains?And how do the restaurants holiday visitors differ from their usual ones?Some 437 ofWaffle Houses nearly 2,000 restaurants are in Georgia the chains biggest market byfar.And analyzing the captured markets of five top Georgia Waffle House locationswith d
41、ata from Spatial.ais PersonaLive shows that on Christmas day 2022,all five 2023 Placer Labs,Inc.|More insights at placer.ai|14locations experienced a spike in their share of“Budget Boomers.”This segment groupis made up of empty-nesters near or at retirement age and living offsavings.Understanding th
42、e demographic and psychographic characteristics of the visitors thatflock to their venues on Christmas Day can help the brands make the most of thisprime opportunity.A Season of OpportunitiesLike last year,the 2023 holiday season will almost certainly be defined by dealseeking.Consumers will be stic
43、king to their budgets but theyll also be on the huntfor thoughtful gifts and indulgences that dont break the bank.Whether on TurkeyWednesday,Black Friday,or Christmas Eve Eve,retailers that can provide festive,low-cost shopping opportunities while remaining attuned to the specific shoppinghabits of
44、their shifting audiences will be poised to succeed.2023 Placer Labs,Inc.|More insights at placer.ai|15Key Takeaways1.Turkey Wednesday will continue to be grocerys biggest day followed by“Christmas Eve Eve.”And while no-frills value grocers may see the greatestholiday visit growth,the festive season
45、offers plenty of room for a variety ofgrocery chains to thrive.2.December 23rd may continue to experience outsize visit growth.In 2022,superstores drew more Black Friday visits than they did in 2019 or 2021 buttheir real visit growth spikes took place on the day before Christmas Eve.Theextended holi
46、day season notwithstanding,a similar trend may emerge thisyear,as inflation-weary consumers hold out for Christmas bargains or seek todefer purchases to later in the quarter.3.Discount chains like Five Below will continue to stand out as primeholiday shopping destinations.Low-cost retailers that spe
47、cialize inaffordable indulgences will flourish this holiday season as consumers activelyshop around for bargains.4.Affordable eateries that remain open on Christmas Day will draw thecrowds.In 2022,this niche was filled by all-day breakfast chains,whichattracted an outsize share of visitors throughou
48、t the day.Chains like WaffleHouse emerged as favorite holiday dinner destinations,especially for retireeson a budget.5.Audience segmentation can help retailers make the most of the holidayseason.Whether visits end up being up or down this year,audiencesegmentation can help retailers maximize the value of the foot traffic they doreceive.By analyzing their captured markets with psychographic anddemographic data sets,chains can identify the specific habits andcharacteristics of their audiences and better meet their needs.2023 Placer Labs,Inc.|More insights at placer.ai|16