With three Bank Holiday long weekends coming up in the UK over the next month (1st, 8th and 29th May), there is plenty of opportunity for shoppers to spend their hard earned money. But with such significant competition for the cash, what are you doing to make sure that you are top of your customers minds?
Prep for the extraordinary Bank Holiday in 2023
May holds a very different Bank Holiday this year, with the upcoming King’s Coronation. There have been a number of royal events over the last couple of years, and it is important to learn from these events to understand how your performance may differ. You may see a reduction in demand during the Coronation and Procession whilst consumers focus elsewhere. We are seeing search interest for the Coronation gradually increase, and now is the time to make sure you’re as prepared as possible to make the most of this period.
Research has shown that the economy is top of the concern list for Britons at the moment, alongside the more consistent worries around good health. With the cost of living crisis a major fixture in our psyche, many people are choosing to stay at home over the Bank Holidays and summer periods and…
- Instead of splashing out on holidays away, many are choosing to spend their cash on home and garden wares, as well as usual groceries - with maybe the odd little treat going into the supermarket basket. Ensuring you are present at all parts of the customer journey, especially in the research phase, will help support overall sales.
- Luxuries are still on the agenda, but they’re smaller and lower cost, with soft furnishings and lighting leading the growth. This is the ‘Lipstick effect’ in its finest, consumers want to treat themselves with indulgences, no matter the size. Having content available to support this customer behaviour trend and ‘treat themselves’ could be beneficial.
- But it’s not just home and garden - consumers are still looking for products from other categories, for example consumer electronics. Terms such as headphones, camera and printer are up in interest on average YOY within Google Trends; look for opportunity areas within your category.
- And people are definitely on the lookout for bargains and deals! Utilise tools at your disposal, such as price benchmarking reports and Merchant Promotions to push this activity further.
How to get the most sales for your budget
So, what do you need to do to make sure you get the most sales for your spend this month? We’ve picked out four main areas for you to check out.
- Check your deals - people are looking for discounts. Make sure that your pricing and discounts are correct; price driven people will click on the cheapest offer. Remember to use Merchant Promotions and promotional sales copy to entice customers.
- Check your copy - Are there opportunities to optimise titles and descriptions to appear for more relevant search terms? If you’re concerned about your feed quality, you can take our free FeedCheck review.
- Check your feed - do you have a high approval/disapproval rate within the Merchant Centre? Is it up-to-date with stock levels so you’re not seeing unnecessary disapprovals? Automatic item updates are a good option if you’re struggling to keep on top of this.
- Check your visuals - make sure that your visuals are up-to-date and eye-catching. Performance Max activity works best when you have strong assets, so get your images in order to drive strong performance, this May and beyond.