Here are the top five trends that are set to define holiday advertising this year, based on data and insights from our latest report.
The holiday season in 2024 is shaping up to be a massive opportunity for marketers, with total retail sales expected to hit an impressive $1.4 trillion — a 4.8% increase from last year. The real challenge, however, is understanding how to fully capitalize on this growth.
To gain deeper insights, we teamed up with Rockerbox to survey nearly 600 marketing leaders involved in shaping their companies' advertising strategies. Below are the top five trends that are set to define holiday advertising in 2024. For a more in-depth analysis, be sure to download the full report.
1. Marketers are under more pressure than ever to prove ROI this holiday season.
This holiday season, every ad dollar counts. Consumers are tightening their belts, and businesses are scrutinizing their budgets. As a result, marketing teams are tasked with not only capturing consumer attention, but also demonstrating a clear return on investment.
Our survey revealed that 60% of marketers feel increased pressure to deliver measurable outcomes and justify their spend. Several factors contribute to this heightened scrutiny:
- Challenging market conditions: Ongoing economic uncertainty has made it harder to predict campaign outcomes. This uncertainty adds to the complexity of planning and executing holiday strategies.
- Increased competition: As more brands vie for consumer attention, standing out is becoming increasingly difficult.
- The election: The 2024 election has introduced new variables to this holiday season, creating a complex environment for advertisers.
2. Marketers are getting a head start on their holiday campaign planning.
When it comes to holiday advertising, timing can make or break a campaign. While 54% of marketers are planning to launch their 2024 holiday campaigns in Q3 (similar to last year), a growing number of marketers are starting even earlier. In fact, 25% began planning their holiday campaigns right after last year’s season or in Q1 2024 — a notable jump from 15% in 2023.
This shift is also influenced by the aforementioned external factors, including market conditions and the upcoming election.
3. Holiday sales are crucial, but brand awareness remains a key focus.
While it’s tempting to concentrate solely on maximizing sales, especially given the holiday spending surge, this approach can come with trade-offs. A balanced strategy that equally prioritizes both direct sales and brand awareness is becoming the go-to approach. In fact, a full 70% of marketers agree that both goals are essential for their holiday campaigns.
The takeaway here is clear: successful holiday campaigns aren’t just about short-term gains. By focusing on brand awareness alongside sales, marketers can create a more holistic strategy that delivers lasting value. To learn how to achieve this balance, check out this blog.
4. Marketers are increasing their budgets to advertise during Black Friday Cyber Monday.
As Black Friday and Cyber Monday continue to dominate holiday shopping, marketers are ramping up their ad spend for these key dates — but not just on any channel. Advertisers are investing 2.6x more in Connected TV (CTV) ads during this period — and it’s paying off. CTV is emerging as a key driver of success during BFCM, which brings us to our next finding.
5. CTV will be the star channel of 2024’s holiday season.
41% of marketers are planning to increase their CTV budgets this holiday season. Why? CTV delivers results. In fact, marketers ranked CTV as the most performant channel for their holiday campaigns last year, with social media coming in a close second.
What makes CTV particularly effective is its ability to complement other channels like social media and display ads. In fact, 72% of marketers say this strategic multi-channel approach drives significant incremental lift.
Unlock the full potential of your 2024 holiday campaigns
As we move into the 2024 holiday season, marketers face new challenges, but also exciting opportunities. The key to success lies in balancing immediate sales goals with long-term brand building, carefully timing campaigns, and leveraging powerful channels like CTV. By understanding and adapting to these trends, marketers can ensure their holiday advertising strategies are both impactful and efficient.
For more detailed insights, download Unwrapped: The 2024 Holiday Advertising Trends Report.
