As the holiday season quickly approaches, Ed Hallen, the chief product officer and co-founder of Klaviyo (KVYO), a retail marketing automation platform, joins Alexandra Canal on Wealth! to discuss the company’s recent report on consumer sentiment around holiday shopping.
“What we’re seeing is that customers are really feeling inflation. And so people are spending more on essentials and do expect to equally spend on the holidays this year, if not increased spending, but they’re very focused on price, and they’re very focused on deals and discounts. And so what we see is that customers are totally willing to start earlier and think about where they can make their money go the furthest and find that best deal during the holiday season.”
Hallen recommends shoppers connect with the brands to stay updated on deals. “It really depends by brand, and so the key thing is that consumers think about all the different ways to connect with brands, whether that’s browsing in person, whether that’s signing up for their email list, their SMS list, different brands approach where the best discounts are in different ways.”
He adds that shoppers are more likely to be influenced by social media, buying products they see on TikTok or Instagram, which could affect how brands market their deals.
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This post was written by Naomi Buchanan.
