Seasonal festivities are strong tools in the hands of marketing psychologists. Their logic is simple: lure laid-back, work-worn and bored consumers back into the stores; get them to draw from their tightly managed savings.
The strategists pitch connection, happiness, relaxation, entertainment, fun, travel and discounts. It works perfectly. It sells. Sales of related products climb from smooth-sailing mode to frenzy orders. Sometimes, stocks are sold out as soon as they hit shelves. Tickets are sold out long before events. Bookings are clogged by insistent rushes.
The evidence is impressive. Lagos learnt its lessons. It blocked the loss to Calabar every yuletide by strongly branding the festive marketing campaign tagged ‘Detty December’. It worked like a spell. Tourists flowed back to the state. Its end-of-year revenue surged. HORECA witnessed growth. The streets lit up. The state generated over ₦111.5 billion ($71.6 million) from its tourism and entertainment sectors in December 2024 alone. Total estimated spending during the period reached trillions.
In places like the United States, festive or commemorative marketing is even more pronounced. It is estimated that an average American spends $1000 during the weekend of the Thanksgiving holiday. Musical festivals in that part of the world could generate as much as $100 million from ticket sales alone. Across December last year, consumer retail spending hovered around $600 billion. It is projected to grow this year, likely reaching $1 trillion.
In the UK, Singapore, Paris or Sydney, it isn’t different. The UK’s average household spending at Christmas is pegged at £541. Data on consumer spending in France during the 2021 Valentine’s Day campaign showed that consumers spent around €13 billion (over $15 billion U.S.).
The festive economy is huge, whether you are looking at events in North America or the United Arab Emirates or Europe, Asia or Africa. Consumers shop to find happiness. People pull into events to relax. People travel long distances to experience something new. Some would go as far as going on a spending spree just to have a laugh and find meaning in life.
Emily Nicholas, writing for Vento, an event insurance company, stated, “Festivals are not just cultural extravaganzas – they are economic drivers. They attract tourists, create jobs, and boost local economies. Small businesses, artisans, and vendors thrive during festivals as people spend on food, clothing, decorations, and entertainment.”
PwC expert survey also revealed, “Consumers are approaching holiday purchases more deliberately, deciding what matters most, where to scale back and what feels worth the splurge. Brands that recognise these nuances, and meet shoppers where they are, have an opportunity to build loyalty that lasts beyond December.”
Regardless of the nature of your business, you should position to reap from the festive economy. One is upon us currently. Here are three ways to milk the festive season:
- Roll out a promo – Money is going to go around this season. Yes, consumers want to spend. But they are smartly searching for the best propositions, as PwC reported. Design a promo to entice the consumers. Promo comes with unusual offerings that are too good to ignore. It could be a deep discount, a freebie or some benefits that are worth vying for. If you are not doing it, your competitors will, to draw away your prospects or customers.
- Be seen and heard – Don’t stay quiet. Sending a greeting, a compliment, or best wishes is part of the package. Show love to your teeming consumer base and prospects. Let them know that you are thinking about them through a gift card, jingles and a sales promotion campaign.
- Capture buyer data – You don’t want to lose the seasonal patronage generated by your promo campaign. Get the data of the buyers or users. Follow up on them when the promo is concluded to reconnect and stay in their consciousness. They are likely to get sober after the festivity and return to their laid-back mode. No worries. Keep connecting with them. Now they know you are available.
