Fiverr has released research highlighting that over 80% of retailers plan to offer discounts, compared to 55% last year, and outlining how retailers are preparing for the 2024 holiday season. The study, conducted in partnership with Censuswide, surveyed over 2,500 consumers and small-to-medium business leaders. Key findings reveal how retailers are adopting strategic marketing, freelance talent, and AI technologies to compete with larger e-commerce brands and engage Gen-Z consumers while navigating economic challenges like inflation.
“The holidays are often make-or-break for many small businesses,” said Gali Arnon, Fiverr’s Chief Business Officer. The research shows retail businesses are heavily investing in social media campaigns and AI to streamline operations and attract early shoppers. To capitalize on this spend-happy consumer demographic, retailers are investing in AI (70%), social media ads (39%), 35% influencer marketing campaigns, email marketing (33%), and SEO (29%)
Key Trends and Findings
Here’s the key findings from Fiverr’s research…
on retailers’ readiness for the holiday season: Key Area Statistic Inflation Challenges 48% of global retailers cite inflation as their primary concern. Freelancer Hiring One-third of businesses are hiring freelancers for holiday support. Discounts Over 80% of retailers offer discounts, compared to 55% last year.
Gen Z Spending 43% of Gen-Zers are planning to spend more this holiday season, compared to the 37% of millennials that plan to do to same AI Implementation Nearly 7 in 10 retailers (68%) are implementing AI this season, with 41% investing in AI tools and 35% embedding AI in customer interactions. Social Media 57% of U.S.
retailers invest in social media ads; globally, 39% focus on social media, 35% on influencer marketing, and 33% on email marketing. 1. Leveling the Playing Field 53% of surveyed businesses don’t see competition from large e-commerce brands like Amazon and Temu as a challenge.
Inflation is the predominant concern, cited by 48% of global respondents. Staffing shortages remain an issue, with a third of retailers hiring freelancers to support their holiday operations. 2. Consumer Preferences and Shopping Trends 80% of businesses are offering discounts to…
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