To that end, the NRF expects holiday spending from Nov. 1 to Dec. 31 to be more tempered than in holidays of yore. This year, the group is forecasting that holiday sales will rise between 3% and 4% to between $957.3 billion and $966.6 billion. This compares with last year’s more robust 5.4% holiday sales rise.
“We know they’ll be out there engaged in commerce—spending money, powering the economy, and when they’re doing so they’ll be looking for deals and discounts,” said Shay. “They’ll be finding ways to make the most out of their monthly paycheck.”
Retailers have prepared appropriate holiday marketing messaging to respond to such demands. While some, such as Amazon, which released a touching spot of three older friends going sledding, are still leaning into the emotional cadence of the season, the majority of marketers are pushing promotional messaging in the majority of their advertising. Target, Best Buy and Kohl’s are all emphasizing value in spots. Even Etsy, which took a more narrative-driven approach with its “Mission: Impossible”-themed holiday ads than larger mass-market rivals, still notes pricing, with the line “Personalized gifts, under $50,” in one spot.
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“Consumer confidence has been up and down, but we know that people’s wallets are stretched so we’re leaning into that,” said Jennie Weber, who was promoted to chief marketing officer at Best Buy earlier this year. “The holiday spots lean into making sure that customers know when to shop and that we’ve got great deals—we want them to feel confident they’re getting the best deal no matter when they shop with us.”
Below, Ad Age compiled a list of some of the season’s biggest retailer campaigns.