Amid shifting consumer priorities, competitive promotional activity, and an unusual calendar, brands and retailers must fine-tune their holiday 2024 marketing strategies to maximize sales during this critical period.
US retail sales are set to accelerate as 2024 draws to a close, as holiday shoppers step up purchases in stores and on mobile phones during the make-or-break season for brands and retailers. Marketers should prepare for an extended and atypical retail calendar, heightened demand for deals, and a surge of interest in social and video channels.
Key Question: How will US consumers spend during the 2024 holiday season?
Key Stat: Total US retail sales for November and December 2024 will increase by a healthy 4.8% YoY to reach $1.353 trillion, with ecommerce growing at nearly twice that rate.
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Table of Contents
Executive Summary
Holiday season sales growth will accelerate in 2024
Timing will take on greater importance during the 2024 holiday shopping season
Holiday shoppers will prioritize essentials and modest splurges
Retailers will battle to help consumers stretch their budgets
How can brands and retailers set themselves up to win the holiday season?
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Stores and Mcommerce Will Power Holiday Retail Growth in 2024 (billions in US retail holiday season sales and growth, % change, and % of total growth, by channel, 2023 & 2024)
Sales of Essential Items and Fashion Goods Will Propel 2024 Holiday Ecommerce Growth (% change YoY in US retail ecommerce holiday season sales, by category, Nov-Dec 2024)
Amazon Captures the Lion’s Share of Ecommerce Growth Among Key Retailers We Track (billions in US retail ecommerce holiday season sales, % of total, and % change, by top 6 companies, 2024)
Stores and Mcommerce Will Power Holiday Retail Growth in 2024 (billions in US retail holiday season sales and growth, % change, and % of total growth, by channel, 2023 & 2024)
Sales of Essential Items and Fashion Goods Will Propel 2024 Holiday Ecommerce Growth (% change YoY in US retail ecommerce holiday season sales, by category, Nov-Dec 2024)
Amazon Captures the Lion’s Share of Ecommerce Growth Among Key Retailers We Track (billions in US retail ecommerce holiday season sales, % of total, and % change, by top 6 companies, 2024)