Holidays 2024 Installment 5: Elizabeth Lafontaine Predicts the Spending Future

Elizabeth Lafontaine, Director of Research at Placer.ai, is joining the virtual panel of MULO (multi-location) experts who are discussing consumer shopping behavior and marketing trends for this holiday season.

Please contact me if you have predictions for this holiday season or 2025!

What is your #1 prediction for holiday shopping season?

“One prediction for the holiday shopping season is that the major shopping event days, like Black Friday and Super Saturday, will continue to be incredibly important for the industry, especially at a time when consumers are programmed to look for as much value as possible when shopping. These events will behave differently by category, but even with the elongation of the holiday season into October, the tentpole events are still the most meaningful for consumers, especially those who wait to shop until later in the season. The industry may also see more frequent visits to retailers as the consumer shops around to find the best assortments and value, but that might not correlate to an increase in basket size.”

What will people be buying?

“Through the lens of foot traffic, we at Placer.ai are seeing some positive signals out of discretionary categories, which may bode well for the holiday season when thinking about key holiday categories like home goods, consumer electronics, beauty, or apparel. Consumers are still very much focused on value, but if retailers can combine innovative and new products with the right promotions, discretionary categories could benefit.”

How will marketers and brands up their games this year?

“Brands are going to need to meet consumers where they are this year, and look to re-energize the relationship between brands and shoppers to win this holiday. Placer.ai did see a lot of momentum around seasonal spending in the fall season, and the excitement and joy around the holidays allows consumers to celebrate in small ways, and this holiday season will require the same effort on the part of marketers to help the consumer to connect with brands.”

How will AI and other technologies impact the shopping process?

“From an in-store perspective, technologies will need to help improve the customer experience and eliminate pain points for shoppers. Consumers are also going to be shopping multiple channels this season, and creating seamless unified commerce experiences is mission-critical for retailers to get right at a time when shopper loyalty is low. Consumers may be researching online and purchasing in a physical retail location, and the shopper journey needs to be positive and reliable.”

What are YOU asking “Santa” for this year or expecting to find by the candles at your holiday celebration?

“I’m an avid cook and have long held out on the air fryer trend, but this might be the year I ask to add it to my kitchen gadget collection.”