Christmas Business 2023: Retailers Expect Sales to Increase

• According to a new survey from Fiverr 75 percent of retailers and e-commerce managers surveyed want to offer even higher discounts than last year.
• On average, respondents plan Discounts of 23 percent in their range of goods.
• 56 percent of retailers surveyed are planning Investing in AI tools.

The Christmas business is the most important phase of the entire financial year for retail and e-commerce. The survey results show that entrepreneurs are even more optimistic than last year. 93 percent of those surveyed expect an increase in sales this year. In the survey in 2022, 77 percent of the retailers surveyed were. 30 percent expect sales to even increase significantly compared to Christmas business in 2022. On average, respondents expect a quarter (25 percent) of Christmas sales to be made on days such as Black Friday, Prime Day or Cyber ​​Monday. More than one in four (26 percent) even assume that 25 percent to 40 percent of sales are generated on these days.

Christmas shopping brings big discounts for consumers

This makes it clear that promotion and action days from the USA have also become firmly established here in recent years. Three quarters of those surveyed even want to give higher discounts than last year. On average, survey participants plan discounts of 23 percent; in 2022 the average discount was 21 percent. Over a third (37 percent) of respondents intend to give buyers 10 to 20 percent off. 40 percent are planning discounts of 21 to 24 percent. 19 percent of those surveyed want to grant discounts of 25 to 40 percent, compared to only ten percent last year.

Marketing for the Christmas business is in full swing

56 percent of retailers surveyed want to use AI tools like ChatGPT this holiday season. In order to optimize processes, analyze customer needs more quickly and adapt the marketing strategy flexibly accordingly. In the fourth quarter, retail and e-commerce companies ramp up their marketing activities. The top three areas in which they invest the most are:

1. Advertising on social media such as Facebook, Instagram and TikTok (53 percent)
2. Product page updates / SEO (49 percent)
3. Email marketing (48 percent)

Successfully overcome hurdles in e-commerce

Despite the widespread optimism, entrepreneurs and managers in retail and e-commerce are currently facing some challenges. The competition from larger e-commerce brands such as Amazon or Etsy (55 percent) is particularly troubling them (39 percent in 2022). They are also concerned about the impact of inflation on sales (52 percent). As well as possible interruptions in the supply chain or bottlenecks in inventory (47 percent) are worried. The shortage of personnel and skilled workers makes it even more difficult to manage the peak phase for retail. Entrepreneurs need flexible solutions here. Almost 39 percent have already worked with freelancers or plan to do so in the fourth quarter. The three most important areas for the use of external specialists are:

1. E-commerce services (43 percent)
2. Social media marketing (42 percent)
3. Marketing and sales consulting (39 percent)

Florian Müller, Country Manager DACH Fiverr, comments on the results: “Many retailers will have to assert themselves even more strongly against large e-commerce brands in this year’s Christmas business in order to achieve their sales targets in the fourth quarter. Many of them are already taking innovative approaches and using the expertise of external talent who are familiar with digital marketing, can accelerate campaigns, optimize customer reach and create brand loyalty.”

On the methodology of the study

On behalf of Fiverr, the market research company Censuswide surveyed 3,016 SME owners and managers (aged 18 and over) in retail or e-commerce between September 21st, 2023 and October 2nd, 2023 in Germany, Great Britain, the USA, the Netherlands and France and Australia. 512 of the participants come from Germany. For the 2022 study, 2,514 owners and managers (aged 18 and over) in retail or e-commerce were surveyed from October 26, 2022 to November 2, 2022.

Im Holiday Hub From Fiverr, retailers will find a collection of expert tips and resources for their business to help them successfully navigate the holiday shopping season. Fiverr offers freelancers a wide range of opportunities on the platform for digital services. Entrepreneurs get access to freelance professionals there so that their business and their projects can take off and grow. Last year, over four million customers collaborated with freelance talent on Fiverr. (sg)

also read: Christmas business 2023: Retailers should take advantage of these advertising opportunities