With Black Friday behind us, who do you think will be the big spenders this holiday?
According to a recent survey by The National Retail Federation (NRF), young adults ages 18-24 plan on spending more this holiday season compared to last year.
54 percent of consumers overall, plan to spend about the same as last year, while 24 percent plan to spend more. Among those aged 18-24 — which includes the oldest members of Generation Z — 46 percent say they will spend more than last year.
“As Gen Z and Millennials get older, their purchasing power increases, and the rise in disposable income is sure to be seen by retailers,” NRF President and CEO Matthew Shay said. “This group of consumers has spent time carefully researching gifts for friends, family and themselves, and are ready to begin knocking out their shopping lists.”
What do these holiday spending trends mean for garden businesses?
Read more to find out how to ensure these big spenders are shopping your products or store.
With an additional full shopping weekend this December, consumers have plenty of time to browse and complete their holiday purchasing, whether it’s gifts for others or décor for their homes.
And with the biggest spenders in the 18-24 year old range, a group whose buying power already exceeds $44 billion, you better be marketing to them and fast. But how do you do that?
Coming up with ways to reach them seems to be the trick. According to Ellen Wells, editor of Green Profit's Buzz!, it's not just social media.
Where to reach them
65% of Gen Z say email is their preferred channel for brand communication. It’s all about personalization and email can be used very effectively (templates, timing, etc.) to customize a message to segments of this cohort.
In order to grow the email subscription list, be sure to have it accessible and visible on your website. The option to sign up can be displayed through social media as well, to capture potential buyers.
How to use email for sales
Including video is a must, with little text and lots of images. These visual means of communication allow the viewer to easily scan the message and also increases the likelihood of sharing. And give them only new information that is important.
According to Inc, Mag, there are three essential components to a good sales email
- The Opener. This is what the recipient sees in the inbox. It consists of the Subject and the first 20 or so words of the email. If the opener is intriguing, the email gets opened; if the opener is boring, the email is skipped or deleted.
- The Benefit. This is the meat of the email. It explains why the customer should be interested in what you've got to offer. If the benefit is clear and understandable, the email gets read; if the benefit is obscure or complicated, the recipient ignores it.
- The Closer. This is where you tell the recipient what to do next (i.e., the "call to action") along with your contact information. If the closer is simple and easy, you get a response. If it's complicated and onerous, you don't.
How to customize emails
Customized emails are winning hand over foot these days. And you can only customize with the data that you're given.
Remember, not all pieces of data are created equal.
Start by collecting standard information:
- First and last name
- Social Media profile
Next, connect deeper. This could be any of the following:
- A recent blog post they’ve written along with why you liked it
- Colleagues’ names along with their positions
- Recent business challenges they’ve expressed and that you’ve help other companies overcome
- Alma Mater
- Recent awards, recognitions or press
- Case studies you have on companies similar to the one you’re prospecting
- Relevant events or news that affects your prospect
You get the idea -- this is any and all information that would help you build trust and rapport with a prospect. Once you find a good point of connection, don’t just stop there - keep going.
- What pages have they visited on your site?
- What products or services have they shown interest in?
- Tips for using your product or serice they already bought
Make emails more relevant to Gen Zers by offering a whole bunch of different opt-in options; i.e., when they receive these emails, how often, what content is provided and so on. And the emails must be mobile friendly.
And according to Ellen, Gen Z and Millennials are indeed the target audience for garden brands. "Thanks to all those cute succulents and houseplants that are so trendy today. Let them know you are the place they can find their newest pet plant."