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Lightbox Loves: Autumn Confidence

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With a collision of events this September – from back-to-school, returns to the office and some late Summer sun – opportunities to spend combined with a positive mindset are resulting in renewed levels of consumer confidence.

At the start of 2021, household savings were at the second highest level on record, with  £190 bn saved during lockdowns. Following a year of restrictions, consumers have been biding their time since early in the year to find their moments to splurge. Intentions to spend on non-essential items have seen a significant increase since June.  In our August edition of the QT, we also found happiness levels are at an all-time high, reflective of the return to more regular social habits and routines. The UK is a social nation – with 21% of consumer spending ordinarily dedicated to ‘socially consumed services’ (such as eating out, leisure activities and holidays). With these activities being stifled during lockdown, people have jumped at the chance to make up for lost time.

Brits are revelling in the new found ability to plan ahead. 87% of people agree that having a holiday planned gives them something to look forward to, and our August QT results echo this sentiment, with 25% intending to spend more money on travel in the next 12 months – almost doubling in sentiment since June.

Brits are also looking for more ways to live, and spend, ‘in the now’.  With an ever-increasing awareness of wellbeing and self-care, there has been an influence on the role for self-gifting. Fatigued from deferred gratification during lockdown, more consumers are turning to little luxuries – whether it’s an ad hoc treat or a regular self-gifted subscription. Additionally, consumers are building anticipation for a big spending opportunity this Christmas, with 1 in 3 planning to start shopping earlier this year and a further 30% planning to spend more money overall on Christmas this year.

These positive signs present many opportunities for brands.  Whether it’s being the antidote to the mundanity that has been too prevalent in recent times, providing an upgrade moment to a spending occasion, or helping people to purchase now for future plans.  Capitalising on the current levels of confidence and joy will be key to capturing consumers wallets this Autumn.

– Rachel Coyle

(Source: the7stars QT, Canvas8, The Times, the7stars Christmas Trends 2021)

 

Lightbox Loves: Christmas Shopping in the Summer

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Is August too early to be talking about Christmas? A quarter of Brits don’t think so. 25% of shoppers turn their attention to planning Christmas shopping by the end of the Summer, with August seeing the volume of Christmas related Google searches double month on month. The early opportunity in this time varies by industry and audience but if consumers are thinking about Christmas, so should brands and retailers.

eBay reported that sporting goods, as well as toys and games, are the two categories of gifts that start seeing the earliest research, with electronics and clothing shopping peaking later potentially due to the timing of the mega-sales period around Black Friday. With 13% of adults (7 million people) planning to splash out more than normal this Christmas, there is an increased revenue opportunity from gifting than previous years. This makes it beneficial for brands to speak to the audience that gift their products when they begin their research.

With newly formed shopping habits emerging over the last 18 months, marketing teams will not only want to think about who is shopping for their products as gifts, but where they will be shopping. the7stars quarterly tracking study found that Brits plan to shop online more than previously for media products (books, music, games etc.), clothes and electronics, whilst grocery and beauty are more likely to be shopped in store. The increased intent to shop online is being driven in most categories by those aged 35 and over, mirroring where the growth in online shopping came from during the pandemic.

Regardless of whether you’re a Christmas fanatic or a more of a scrooge, the marked increase in intent and research that is being seen this Summer means it’s certainly not too early for brands to be implementing plans to gain the attention of shoppers this coming holiday season.

– Ben Lovett

Sources

https://www.ebayads.com/wp-content/uploads/2021/08/eBay_ads_christmas_report_2021_F.pdf

Kantar

Googe Trends

https://business.pinterest.com/en/content/holiday/

The7stars QT August