2024 Holiday Planning 3 Best Practices

Gift Giving Marketing Strategies for Growth

As the 2024 holiday season approaches, brands have a unique opportunity to connect with fast-growing consumer segments, like Gen Alpha, Gen Z, and Millennials, who are expected to increase their spending for the 2024 holiday season by +15%. 

By identifying new consumer targets, developing authentic ad campaigns and creating the right in-store experiences, brands can maximize their impact and drive sales in the gift-giving season. Here’s how:

1. Identify New Growth Segments to Target

The first step in a successful holiday marketing campaign is to understand who your current Brand Lovers are and who your potential new growth segments are.  Look beyond traditional segmentation to understand the cultural values, passions, and lifestyles of the growth segments – and their gift-giving decisions. 

2. Develop Authentic Ad Campaigns

In today’s market, authenticity matters more than ever, especially when it comes to holiday gift-giving. Data reveals a 30% higher engagement rate in campaigns that use personalized messages based on consumer behavior and preferences. What’s more, brands that focus on inclusivity in product marketing see a 25% increase in consumer preference. Developing ad campaigns that authentically connect requires a deep understanding of “why” that drives purchase intent as your target and growth consumer groups shop for holiday gifts. For example:

• For grandparents: Focus on storytelling that highlights the joy of giving and the value of creating lasting family memories. Showcase products that grandparents can share with their grandchildren, emphasizing quality and timelessness.
• For parents: As kids get older, the pull of toys lessens while other gift categories become more important. Highlight how your products can play a role in family bonding or children’s rapidly-evolving interests. 
• For partners: Romantic or thoughtful gifts that convey understanding and appreciation are key for partners. Campaigns should emphasize personalization options and the thoughtfulness behind each product, showcasing how they can strengthen the bond between partners.
• For friends: Highlight the fun and quirky side of your products, focusing on how friends can enjoy them together during holiday gatherings, or how your products signify a special moment shared among friends.

3. Create In-Store Experiences for Diverse Audiences

The physical layout and presentation of products can significantly influence purchasing decisions during the holiday season. Creating in-store experiences that appeal to a wide range of consumers involves strategic product placement.

• Themed endcaps: Design endcaps that tell a story, grouping products that appeal to each target demographic together. For example, an endcap focused on grandparents might feature classic games and toys alongside modern gifts that encourage grandparent-grandchild interaction.
• Inclusive visual merchandising: Use signage and visuals that reflect diversity in race, ethnicity, gender, and age. Consumers that see themselves represented in your store feel more welcomed and understood.
• Interactive displays: Encourage interaction with products through demonstrations or interactive displays. This is particularly effective for tech gadgets or toys, providing a hands-on experience that can appeal across generations.
• Strategic product grouping: Place products that are likely to be purchased together in close proximity. For example, bundling cozy blankets with bestselling books for parents, or assembling a “date night in” package for partners, can inspire gift ideas and increase basket size.

The 2024 holiday season presents a valuable opportunity for brands to connect with diverse consumer groups as they shop for gifts. By assessing your brand and understanding the unique behaviors and purchase drivers of different growth segments, you can create a holiday shopping and gift-giving experience that resonates with everyone and drives success for your brand.

Contact Collage to learn more about multicultural consumers, Gen Alpha, Gen Z, Millennials, and more. Enjoy this infographic about Gift Giving including some new data from our Parents Gift Giving survey.