Shulou(Shulou.com)11/24 Report--

Shanghai, November 15, 2023-Chinese brands beat North America: marketing insights during the 2023 holiday shopping season, according to a new survey released by The Trade Desk (Nasdaq: TTD, hereinafter referred to as TTD), a leading advertising technology company, pointing out that the spending trend of the 2023 holiday shopping season in North America is improving, and a large number of consumers plan to increase spending during this year's holiday shopping season, bringing new opportunities for Chinese brands to go abroad. At the same time, as more and more consumers tend to get information about the shopping season in the open Internet advertising ecosystem (hereinafter referred to as Open Internet), digital channels such as smart TV screens (CTV) are on the rise. Overseas enterprises should embrace the omni-channel strategy represented by CTV, improve the advertising effect and seize the growth opportunity of this year's holiday shopping season.

Consumer spending in 2023 North American Holiday season may hit a new high

The report shows that consumer spending intentions have bucked the trend against a backdrop of global economic uncertainty. In the US market, consumers plan to spend more than last year on their budget during the holiday shopping season, with 29 per cent of them planning to shop more at Christmas. EMarketer figures show that overall consumer retail spending in the 2023 North American holiday season will grow by 4.5%, with total retail sales reaching US $1.328 trillion. Of this total, online retail sales will reach US $26 billion, an increase of 11.9%.

Total retail sales of consumers in the United States during the 2023 holiday season will reach $1.328 trillion

The report also points out that in recent years, the holiday shopping season has shown a trend to start earlier and earlier, and inflation is one of the important reasons. When asked what prompted them to shop in advance, 37% of consumers said they wanted to grab holiday gifts before prices went up. In addition, most consumers will choose to browse and compare product information in multiple channels and build brand awareness before placing an order. Therefore, warm-up promotion has become a wise choice for brands to seize the opportunity.

Wen Daoming, general manager of TTD China, said: "this year's holiday shopping boom in North America has brought new growth opportunities for overseas Chinese enterprises. On the one hand, as consumers pay more and more attention to the price, the layout of the brand needs to anchor the long-term brand building in order to create brand goodwill and loyalty. On the other hand, in line with the trend of consumers' purchase cycle in advance, overseas brands should be laid out in advance in order to achieve the business goal of the node in this peak season. "

Attach importance to the value of Open Internet and reach the target audience with omni-channel marketing

With the increasing diversity of consumers' Internet behavior, Open Internet is rising rapidly. According to the latest survey, consumers in North America spend 76% of their digital lives on Open Internet. At the same time, a significant proportion of consumers may discover brands through a variety of Open Internet emerging channels such as podcasts (38 per cent), billboards or posters (30 per cent), online retail sites (25 per cent) and online video or TV shows (22 per cent). This means that Open Internet can tell product and brand stories more effectively and enhance marketing effectiveness than traditional "walled garden" marketing channels such as social media.

The survey also found that 90% of consumers want to have a seamless dialogue with brands on all channels to achieve a consistent brand experience. It is also pointed out that many keen brands have made media purchases using the Open Internet omni-channel strategy covering CTV, mobile, audio / video, electronic outdoor large screen (DOOH) and other channels.

It is worth noting that smart TV large screen (CTV) has become one of the indispensable key investment channels. The reason is, first of all, in terms of scale, the penetration rate of CTV home TV users in the United States will reach 88% this year. Second, the immersive large screen experience brings powerful and high influence to CTV. For example, 71 per cent of consumers said they would resonate emotionally when multiple people watched CTV ads, while 15 per cent of consumers said they would gradually improve their brand impression in an immersive large-screen experience.

Wu Yulin, director of business development of The Trade Desk in China, said: "the diversity of consumers' Internet behavior means that only by laying out Open Internet omni-channel marketing and transmitting relevant information through multiple channels can they stand out among many holiday promotion advertisements and occupy consumers' minds for a long time. In cooperation with many of the world's leading brands, TTD has found that CTV has become an important contact point for these brands to expand their brand power, reach consumers accurately and efficiently convey brand stories. With the continuous improvement of the value of Open Internet, Chinese enterprises going abroad should closely follow the changes in consumer demand and market trends, reach the target audience through omni-channel marketing represented by CTV, seize the growth opportunities in this year's holiday season, and provide impetus for the long-term growth of their overseas business. "

Data sources:

1. US Holiday 2022 Review and Holiday 2023 Preview, eMaketer, February 2023

2. Connected TVs 2023, Leichtman Research Group, June 2023

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