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Gifts and Deals are on the Holiday Shopping List

Nov 10, 2023

Consumers have the holiday spirit in 2023 and will celebrate accordingly – Thanksgiving (97%), Hanukkah (14%), Christmas (96%) and New Years (78%).1 They expect inflation and a slow economy to affect celebrations (85%) but are shopping earlier with budget-friendly goals in mind.2 These tips will help you spread the joy.

Infographic describing holiday scams. A full description is available through a link beneath the image.

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How should businesses prepare for the 2023 holiday season?

  • Attract shoppers to your website, mobile app, AND physical locations. About 67% of shoppers decide what they’ll buy before coming to your store.4 Once at your location, 47% buy more products.5 That’s why an omnichannel strategy that includes search, video, social posts, localized ads, and other ways to engage with your brand is important.
  • Offer attractive discounts. Consumers are worried about the economy and price increases but still want to gift family, friends, and coworkers during the holidays. Discounts will help meet their needs and ensure they return to your business after the holidays.
  • Invest in digital campaigns. Retailers that spend more than 50% of their marketing budgets on digital have greater e-commerce penetration.6
  • Offer reasonable return policies. A satisfying customer experience doesn’t just end with delivery. Sometimes products just aren’t a good fit and customers will want to exchange or return them.
    • 98% of shoppers will buy from you again if returns are fast and convenient.7
    • 86% of consumers check a company’s return policy before purchasing.8

For help preparing for the holiday season, simply complete a short form and a Synovus Merchant Services Consultant will be in touch to assist you. You can also stop by one of our local branches.

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Important disclosure information

This content is general in nature and does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.

  1. Numerator, “2023 Holiday Preview,” January 19, 2023 Back
  2. Ibid Back
  3. PwC, “Holiday Outlook 2023” Back
  4. Think with Google, “Holiday Shopping Insights: Be Ready for Determined Shoppers,” October 2023 Back
  5. PYMNTS, “BOPIS Grows Basket Size as Most Consumers Buy Extra Items When Picking-Up In-Store,” April 19, 2022 Back
  6. Criterio, “2022 Holiday and Festive Season Commerce Trends: 5 Predictions,” September 1, 2022 Back
  7. FedEx, “2023 e-commerce Trends to Watch,” 2023 Back
  8. Ibid Back