Marketing service provider, Rakuten Advertising, is predicting a surge in ‘revenge shopping’ and ‘revenge travel’ over the coming Cyber Weekend sales.
If you’re not in the know, ‘revenge shopping’ refers to the unimpeded spending behavior following periods of prudent saving like, for example, a global pandemic. Likewise, ‘revenge travel’ denotes an individual’s yearning to break free and travel following extended mundanity and stagnation.
Rakuten based their forecasts on the e-commerce proliferation during recent Click Frenzy (November 9-11) and Singles’ Day (November 11) online shopping events.
The events also saw revenge travel rearing its handsome head, with Rakuten observing a 417 per cent year-on-year growth, coinciding with open borders and increased consumer confidence in the travel sector.
Growth verticals which emerged during the lockdowns also continued their increased year-on-year sales, with pet products, and food and drink showing 126 per cent and 124 per cent growth, respectively.
Rakuten found overall sales and orders in Australia were up from last year, showing 23 per cent and 14 per cent year-on-year growth respectively.
Unsurprisingly, Rakuten are predicting this nationwide splurge will continue into this weekend’s Black Friday and Cyber Monday sales events.
“While trends and the necessity for specialised marketing tactics vary by region, one thing is clear that peak shopping is no longer only about sales,” said Stuart McLennan, Rakuten’s senior vice president of Asia-Pacific.
“Understanding the changing preferences and behaviours of shoppers is just as vital as focusing on discounts during known peaks like Singles’ Day, Black Friday and Cyber Weekend.”
Rakuten’s 2021 Peak Planning Guide is now available to help brands develop strategies to address these new devil-may-care shopping habits.
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