YOUR GUIDE TO MEMORIAL DAY MARKETING IN 2020 - SteelHouse
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YOUR GUIDE TO MEMORIAL DAY MARKETING IN 2020 How to drive strong campaign performance in the midst of the COVID-19 crisis Millions of Americans kick off their summer on Memorial Day Weekend, which means they’re shopping for what they need to start the season right. And due to the COVID-19 crisis, this year they’re buying more online than ever before—here’s how to turn the uptick in activity into a major opportunity.
WHAT WE SAW LAST YEAR
Millions of consumers will stay home this Memorial Day due to COVID-19, so
we expect major increases in revenue and conversions when compared to 2019.
But that doesn’t mean we can’t learn from the past—let’s take a look at the trends
from last year and see where this year’s opportunities may emerge.
KEY REVENUE AND CONVERSION TRENDS
Revenue climbed higher week-over-week in the
lead-up to Memorial Day, before seeing a drop on TOTAL SITE REVENUE AND CONVERSIONS FOR MEMORIAL DAY
the weekend itself as consumers spent more time
enjoying their weekends than shopping online. Revenue Conversions
Conversions, meanwhile, followed a somewhat
consistent pattern in the build-up before popping Memorial Day
Revenue Conversions
up in the week after. Weekend
$700M 1.6M
MAY 21ST ¬ Revenue was highest on the Tuesday $600M 1.4M
before the holiday weekend. $500M
1.2M
1M
$400M
MAY 28TH ¬ The day immediately following 800K
$300M
Memorial Day saw the highest number of 600K
conversions, jumping 21% vs. the Friday before the $200M 400K
holiday weekend. $100M 200K
0 0
CAPTURE THOSE STRAGGLERS ¬ The jump in 13 14
May 2019
15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
conversions following the holiday means a lot of
shoppers discovered they weren’t as prepared for
summer as they thought. Keep campaigns running
strong through and after the holiday to ensure
you’re netting those conversions.
MEMORIAL DAY GUIDE 2020
WHAT WE SAW LAST YEAR
INCREASED AVERAGE ORDER VALUE AVERAGE ORDER VALUE: 1ST HALF VS. 2ND HALF
Shoppers were spending big in the lead-up to Memorial Day, with
$450
the second half of the month posting a 34% higher average order
$400
value than the first.
$350
$300
BIG TICKET ITEMS ¬ As Memorial Day got closer, consumers $250
$200
were making major purchases. Average order values rose the day
$150
after Mother’s Day and continued to trend up all the way up until
$100
the holiday weekend.
$50
0
1st Half 2nd Half
TOTAL AVERAGE ORDER VALUE FOR MAY
Memorial Day
Weekend
$600
$500
$400
$300
$200
$100
0
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
May 2019
MEMORIAL DAY GUIDE 2020
RECOMMENDATIONS
FOR THIS YEAR
There’s never been a Memorial Day like this one. The COVID-19 crisis has forced
many consumers to shop online, which means there’s an enormous opportunity in
ecommerce. We’ve analyzed billions of dollars in online transactions to discover the
best strategies to drive performance during this unique time—here’s what we’ve found.
TAP INTO CURRENT CONSUMER TRENDS
The past few months have been tough for many people. But as the
economy slowly starts to reopen, there’s a chance to recapture a bit of
normalcy. Here’s how consumers are setting up for a great start to the
summer, and how your campaigns can leverage the new normal.
1 KICKING-OFF SUMMER PROJECTS
Memorial Day is traditionally a time when people start summer
projects around the house. And with folks spending so much
more time at home, this trend is stronger now than ever before.
Tip: This is a big time for home renovation. Tap into this by promoting
anything in your catalog that will help consumers scratch that itch.
2 STREAMING SUMMER BLOCKBUSTERS
Consumer electronics purchases have increased since the beginning
of the crisis, and movie studios have announced their major releases
will debut on Connected TVs instead of movie screens.
Tip: Promote items from your catalog that will help your customers
transform their homes into a movie theater experience.
MEMORIAL DAY GUIDE 2020
RECOMMENDATIONS
FOR THIS YEAR
3 BRINGING THE SUMMER HOME
Consumer behavior during the crisis has shown serious upticks in
furniture and home decor purchases. And with travel not an option
for many people, millions of shoppers will opt for a nice backyard
vacation instead.
Tip: Leverage the stay-cation vibe and promote anything that can help
your shoppers grill in the backyard or lounge in the living room. Help them
bring their vacation home!
4 AN EYE ON SHIPPING TIMES
Supply chains are getting back in shape, which means shoppers are
getting their online orders quicker. That isn’t the case for every retailer,
though, which means there’s an opportunity here.
Tip: If you have quick shipping times, that can be a major differentiator
against your competition. Make shipping times a key messaging component.
MEMORIAL DAY GUIDE 2020
MEMORIAL DAY KEY
TAKEAWAYS
There’s a clear opportunity to drive serious performance this Memorial Day--as
long as your campaigns are ready. Here’s a quick rundown of some key strategies
that will strengthen any marketing plan heading into the holiday weekend.
CAMPAIGN RECOMMENDATIONS CREATIVE STRATEGIES BUDGET RECOMMENDATIONS
• Max out your lower funnel campaigns— • Shipping times are weighing heavily on • Keep your budgets strong because
make retargeting a priority across display consumers’ decision to buy. If you have there will be a lot of competition. Many
and Performance TV. quick shipping and processing times, make businesses are in recovery-mode and will
those a key selling point in your creative. see the holiday as an opportunity to drive
• Keep traffic coming to your site to give revenue.
your retargeting campaigns a healthy • Curbside pickup is extremely popular
targeting pool. If you need a traffic right now! Make sure your audience • Pent up demand means there will be a lot
boost, launch a prospecting campaign on knows if you offer it as a delivery option. of shoppers active during the lead-up to
Performance TV. Memorial Day. Don’t hesitate to increase
spend if you need to.
• Viewers are streaming twice as much
TV now than before the pandemic, so • Last year’s data shows an opportunity
whether it’s to drive conversions or new to drive more conversions immediately
site traffic, make Performance TV part of after the holiday, so ensure your budget is
your strategy. ready to drive extra performance then.
• The weeks leading up to Memorial Day
saw an uptick in average order value due
to shoppers buying big-ticket items. Seize
this opportunity and feature high-end
products.
MEMORIAL DAY GUIDE 2020
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