Ads may have more influence on consumer holiday spending this year. In 2022, eBay found that the impact of ads during the holiday season was greater than in prior years -- about $211 billion in holiday spend supported smart advertising strategies.
The multibillion-dollar holiday market will soon be underway, and looking back at previous trends can give marketers a better understanding of how consumers search for and purchase products in certain shopping categories.
eBay this week released data showing that in 2022, home-decor items such as blankets and throws across its site became purchases of interest to consumers in October, for example, while items that are typically not available, such as video games, were purchased later in the season.
The eBay Ads report reveals the impact of holiday ads based on consumer decisions and projects holiday spending trends. It also provides insights on how, when and where consumers intend to begin their gift shopping research.
For the 2023 eBay Ads Holiday Guide, eBay surveyed more than 3,000 U.S. online shoppers who made a purchase online within the past 12 months, including at least 1,500 eBay shoppers. eBay fielded the survey between July 3, 2023 and July 10, 2023.
Survey data shows that 79% of consumers spend “a lot of time” exploring options before making holiday gift purchase decisions, leaving an opportunity for sellers and brands to influence decisions.
When shopping on eBay, 81% of consumers said they are likely to click on advertisements such as a promoted listing to learn more, while some 39% said they may be influenced by online advertisements for their holiday purchase decisions.
It's an entirely different economy this year compared with last year. Some 59% of consumers in 2022 spent more than they expected on gifts, as did about 70% of those between the ages of 35 and 44.
It's difficult to predict exactly how much they will spend, but a Gartner Marketing survey of 302 consumers found that only 9% plan to spend more this holiday season.
Some 28% of consumers plan to spend less this holiday season, compared with 2022, while 63% of consumers plan to spend the same amount this year as last year. The survey was conducted in June.