Digiday+ Research: 60% of brands, retailers say holiday revenue will increase this year — slightly | International Association of Digital Marketing Professionals (IADMP)

By Julia Tabisz

Consumers continue to spend amid rocky economic footing, and brands and retailers are feeling good about how revenue is shaping up heading into the all-important holiday season, according to data from Digiday+ Research.

Despite the current economic climate and perhaps not surprisingly following a record-breaking Thanksgiving shopping weekend, Digiday’s survey of 32 brand and retail professionals found that the majority of respondents expect revenue to increase during the holiday season over last year — albeit only slightly.

According to Digiday’s survey, 60% of brand and retail pros said they expect their 2022 holiday revenue to be higher than their 2021 holiday revenue. Meanwhile, 28% said they expect holiday revenue to be down and 9% said they expect holiday revenue to be about the same this year. This is a clear sign of optimism in a pessimistic economic climate.

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Breaking the numbers down further, however, reveals that most of the optimism is not particularly enthusiastic. Slightly more than a third of respondents to Digiday’s survey (38%) said that holiday revenue will be up only slightly this year, coming in at between 1% and 10% higher than last year. Only 6% of brand and retail pros said they expect 2022 holiday revenue to increase between 11% and 30% over 2021, and 16% said they expect holiday revenue to jump by more than 30% this year over last year.

After the 38% of brand and retail pros who said they expect holiday revenue to be up slightly this year, the second-most popular response was those who said they expect holiday revenue will be down slightly — another sign that the optimism brands and retailers are feeling isn’t exactly overwhelming.

Exactly one-quarter of respondents to Digiday’s survey (25%) said they expect 2022 holiday revenue will be between 1% and 10% lower than it was last year. Only 3% said they expect holiday revenue to decrease between 11% and 30% from last year, and, interestingly, no one responded that they think holiday revenue will be down by more than 30% this year compared with last year. So any pessimism that brands and retailers are feeling isn’t exactly overwhelming, either.

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Source:: Digiday

Author: Aaron