Cash registers and drive-through lanes are humming with excitement. However, the negligible change in the seasons is most clearly seen in the shift in advertising.
This year, something is different. The economy is still recovering. But several companies are counting on optimistic shoppers to spark a turnaround.
The day after Thanksgiving is one of the biggest commercial “holidays,” called Black Friday. It’s called Black Friday because a retailer can move from a loss — or being in the red — to the black profit zone. It’s estimated that $447 billion will change hands during the holiday shopping season this year, which is 2.3 percent higher than last year.
But what’s driving this new wave of consumer optimism? It might be that the latest technological gadgets and the hottest fashion trends truly resonate with consumers this year. Absence makes the heart grow fonder — at least that much can be said of the goods that we consume. But there’s something more to the holiday season than just shopping for gifts.
Without necessarily acknowledging it, consumers and retailers count on the values of experience and tradition. The nostalgic feeling of a winter holiday dinner or party with family and friends conjures up strong feelings that money can’t buy. Starbucks even has an online campaign to complement its famous red cups during the holidays that encourages consumers to personalize their gingerbread latte experience by submitting holiday stories via the Starbucks website.
Advertising during the holiday season hones in on that positive spirit of winter get-togethers. During these tough economic times, selling goods and services is more competitive than it used to be. The basics, such as food and rent, hold more weight than wish-list items, such as designer scarves, on the average consumer’s tightened budget.
It’s really up to consumers to crown the winners and losers on the market. Some consumers might opt to avoid selling out by sticking to a no-frills approach to winter shopping. Others might decide to pile on a few more credit card charges while clutching the optimism that comes with the holiday spirit.
Promoting products and services seems to be more about experience during this time of year. Buying a ticket to the Super Bowl sends a signal to the market that a consumer is willing to pay a certain price, or more if the ticket ends up being scalped later, for an experience.
Effective advertising capitalizes on the experiences and possessions that humans seek. In that sense, almost everyone can find an experience to his or her liking, whether it’s climbing Mount Whitney or graduating from college.
The economic downturn has changed a lot of things. Credit is tighter, and more people want and need to stay within a budget.
According to a recent story by The New York Times, only 8 percent of shoppers polled said that they would put more of their purchases on credit cards, and 35 percent planned to use more cash than they did last year. As consumers tighten their belts, the holiday spirit of generosity is set for a comeback.
There are more unsung heroes out there than one might think at first glance. The Arizona Republic and several national media outlets, such as ABC, have recently picked up on a story that shows how much character counts. Dave Talley, a homeless resident of Tempe, found $3,300 in cash at a light-rail station, and he turned it in despite the fact that he was short on money to fix his bike. But, the story doesn’t end there. Because he did the right thing, Mr. Talley has received an outpouring of support. He refused to sell his values for money. That kind of attitude goes way beyond holiday cheer.
A good experience can be worth its weight in dollars and cents if it means something to a person. It’s much more difficult to relinquish quality time spent with loved ones for an object that will become yesterday’s news. The same cannot necessarily be said of a shiny new phone. It will eventually lose its luster. At least we can reuse and recycle our old stuff. Memorable experiences are harder to come by.
Send your coupons to Isaiah at isaiah.mccoy@asu.edu
