After researching the shopping habits of 5.1 million consumers, data has revealed that October is among the busiest months of the year for online retailers.
According to research conducted by Criteo, consumers start researching and making purchase decisions as early as October, but hold off actually buying until later in the peak shopping season.
This shift in holiday shopping mentality is believed to be a result of the growing popularity of online shopping events in the lead up to Christmas. Criteo established that during the month of October, shoppers who participated in events like Click Frenzy and Black Friday started visiting retailer websites.
In 2017, for instance, 26 percent of all buyers during Click Frenzy visited retailer websites prior to November 1. A similar trend has been recorded for Australia’s annual Boxing Day sales, with 30 percent of purchasers jumping online to research products in October and November.
This is a trend that Pressy Sankaran, the head of ANZ, says is becoming more common.
“With sales events like Click Frenzy and Black Monday becoming such established parts of the retail calendar in Australia, consumers are beginning to plan their holiday shopping even earlier,” Sankaran says.
“Our data trends show a clear holiday sales uplift when retailers and marketers engage their consumers earlier in the quarter.”
According to Criteo’s report, ‘Christmas Seasonality Trends in Australia’, these shopping trends are an indication that retailers need to boost their marketing efforts earlier in the season.
“Retailers and marketers need to adapt and shift their focus towards October when many people are active in the top of the purchase funnel,” Sankaran says.
This year, Click Frenzy will commence on Tuesday, November 13, followed by Black Friday on November 23 and Cyber Monday on November 26. Experts are predicting these sales events will be bigger than they have in the past, with 37 percent of Australians expected to shop online during Black Friday alone.
Click Frenzy is also expected to boost web traffic and sales in November after the shopping event reportedly attracted 78.25 million visits to shopping and classified sites during its flash sale in 2017.
Disclosure: Click Frenzy Pty Ltd is owned by Global Marketplace, the parent company of Power Retail.