4 Reasons Retailers Should Increase Ad Budgets During the Holidays
The election is over, and just like that, the holiday season is upon us. Consumers have checked voting off their to-do lists and are ready to get to work on the holiday shopping list. When it comes to your business’ advertising budget, now is not the time to rest on your successes, or to treat November and December like any other month. Here are some compelling reasons to increase your advertising expenditures during this final stretch of the year.
1. Consumers Are Spending
It only makes sense to increase your exposure during the months that consumers are spending the most money. Purchases during the holiday season are not all about gift giving; consumers tend to increase overall spending during this time. In addition to buying gifts, shoppers also buy for themselves. Additionally, big-ticket items such as cars, home appliances, and even homes often see an uptick at the end of the year.
2. Competitive Edge Over Rivals
If you don’t want to get lost in the crowd, you need to make the effort to stand above it. December is the time when many retailers pull out all the stops in terms of advertising. Your ability to remain relevant relies heavily on advertising and marketing promotions.
3. Liquidate Inventory
Another compelling reason to invest your advertising dollars relates to inventories. If you are trying to liquidate merchandise prior to year-end, capitalize on shopping boom and maximize your exposure. This is your chance to sell your final inventory before it’s out of date or irrelevant.
4. Post Holidays
The increased traffic and revenue will come to an end after the holidays, but you will still need customers. By staying in front of consumers, you have gained awareness and retained familiarity. Your business is obviously more likely to be top of mind than one whose advertising decreased or went dark during the revenue rush.
How will you be spending your ad budgets during the holidays?
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