After a tumultuous 2022 news cycle, many expect their festive cheer to come diluted by stress. Over 50% of us expect a stressful Christmas thanks to financial hardship, 37% expect the war in Ukraine to drive anxiety, and 42% are worried about covid cancellations rearing their head once more. In addition, lockdowns and mandated ‘bubble’ sizes are still fresh in our memory. So perhaps that’s why people are prioritising time spent with loved ones this Christmas.
Who can forget Kevin McCallister’s epiphany? “Instead of presents this year, I just want my family back”.
Implication; What does your offering bring to family life and friendships? Think about how you can reposition the experience of your offering, to prove to wary consumers that you can help them make memories, rather than fill their attics.
As a brand, can you help people express their inner Kevin, without breaking the bank? Every year, many make special trips to see the Christmas lights switched on near them. What can you offer as an instore experience, or as a guide to events nearby, to help them spend time together this Christmas?
3 | At a time when spending on the ‘unnecessary-and-not-necessarily-wanted’ seems frivolous, some are forgoing the sentimental and considering cash gifts.
Each year the colossal amount spent on festive gifting inevitably leads to waste, as people receive items that they’d never have parted cash for themselves. Yes, for many that’s the idea. However, in a year where the Citizens Advice are reporting that a quarter of the population simply won’t be able to afford their energy bills come October, this type of gifting feels counter-intuitive, foolish even.
23% plan to give cash this Christmas, with a further 46% considering it. A whopping 71% would be happy to receive it – perhaps an indictment on our performance as gift givers. In a stark reminder of the choices many of us will face as prices soar, some will resort to swapping cash come Christmas.
Implication; Pay heed to the fact that gifting behaviours may well shift, reflecting the fact that many are struggling with the essentials. Some will agree to forego gifts this year, others may enforce a monetary limit or consider cash before goods.
This may mean that financial institutions have a role to play this Christmas. Can you bring festive cheer to the act of giving money? How do you make money unwrappable? Other brands might want to increase their voucher options, as people opt for what’s seen as the more considerate version of gifting cash.
Gifts may well be better considered and researched than ever before. Think about how you can prove your products fit the bill, to make a more selective shortlist. To do so, lean on your understanding of people; gift-givers need to know their choices will be well received, so do their research for them. Can you provide tools to help them match your stock to the perfect recipient?
Finally, spare a thought for the 4%, sitting with their Christmas shopping done when this year’s must-have gift hits the market. May they hold steady against pester power – and may I find it in me to join their ranks this time next year.
After more of our thinking on Christmas 2022? Look no further.