2022 Holiday Outlook in Midst of Inflation
Many brands are having to look in new directions for the upcoming holidays. Shoppers nationwide are feeling very apprehensive and overwhelmed about the holiday season. Ninety-one percent of shoppers say inflation will impact their holiday purchasing. Seventy-four percent of consumers are “trading down” using methods such as switching stores or brands for lower prices, adjusting quantity or pack sizes, postponing purchases, and leveraging buy now and pay later programs.
Brands that are losing market shares to private label in grocery categories are the following:
The Ibotta Performance Network
Data from the end of 2021 provides insights into this Holiday seasons’ categories for the final months of 2022. Based on IPN Category Pacesetters, indexing above 100, 47 consumer goods categories saw their largest sales volume in November ’21 vs the previous ten months. Dominating in Nov ’21 was home décor (132), air fresheners (124), and video games, movies, and music (138) in the non-food and beverage categories. Comparatively, in December ’21, 57 consumer goods categories saw their largest sales volumes to the previous eleven months. Gift cards (286), greeting cards (233), party supplies (184), and home décor (153) were Dec. 21’s top categories. December’s top snacks, sweets and beverages were: sugar candy (305), sparkling wine (269), hard candy (162), chocolate (149) and whisky (142).
Categories across both months in 2021 that are likely to have a strong demand in 2022 are the following:
Is your business standing out this holiday season? Do you know what sets your company apart from the competition? Contact us today about a Brand & Market Study to answer these questions and more. Schedule a free consultation today or send us an email at firstname.lastname@example.org.
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