The Wax: November 2022 Drop

November '22 Drop

Our TL;DR monthly trendspotting and reporting on the sticky stuff for your biz, your brand, and your cultural fluency. Check back monthly for the next 5 best things.

Holiday Marketing 2022

Holidays are here and so are new shopping trends

  • DTC brands like Poshmark, AYR and Amazon are shifting marketing dollars around and spending less on digital media and more on traditional marketing like direct mail, catalogs and TV.
  • DTC brands are teaming up with retailers. These partnerships have been clever brand extensions that help brands reach broader audiences. Great example: Rifle Paper Co. — the DTC stationery and wallpaper brand — has had success being present in-store at West Elm.
  • Expect to see your favorite brands enter into physical experiences. Unexpected brands like Rakuten hosted an IRL “Sleigh Your Shopping” pop-up in Manhattan earlier this month.
  • Whether it’s a pop-up, unique partnership, or throwing it back with a catalog, brands are keeping us on their toes with how they are reaching consumers during the most wonderful time of the year!

Consumer x Brand Opportunity:

Reach your core shoppers where they are, IRL. Thinking beyond social, this is your time to enter a new experience and partner with a brick-and-mortar retailer that caters to a similar audience as your brand.

One question to ask your consumers:

What retailer would you be pleasantly surprised to see our brand sold in?

Source: AdAge

The Wax: November 2022 Drop

Swipe and buy

Move over Amazon, social media is the new hot spot for holiday gift shopping

  • In order to compete with online retailers, social media platforms like TikTok and YouTube are rolling out features that allow users to purchase directly from the app.
  • According to research by Deloitte, about 60% of Gen Z and 56% of Millennials will turn to social for some of their holiday shopping this year.
  • Aside from the convenience, many say that social media provides access to a greater variety of products to inspire future purchases.
  • Another huge draw is social media’s growing role in purchasing decisions as both a search engine and source for honest reviews as buyers look for more value for their money.
  • While Meta has slowed their foray into e-commerce after it underperformed, other platforms are laying the groundwork in the hope of capitalizing on the trend and preparing for anticipated developments in the space, such as live shopping.

Consumer x Brand Opportunity:

Link products directly to your social media profiles to cut out a step or two and encourage followers to buy straight from your posts.

One question to ask your consumers:

Have you ever pulled a “swipe and buy” on social? If so, how did you like that experience as opposed to purchasing from the brand’s site?

Sources: Washington Post, Semafor, The Verge

The Wax: November 2022 Drop

Bundle all the way

Bundles are creating a dynamic purchase opportunity this year

  • Budget-minded consumers are looking for ways to stretch their dollar further this holiday season. Enter: the bundle.
  • Brands are opting for bundled product deals instead of blanket discounts in order to appeal to consumers.
  • Syria Karumanchi, Director of Marketing at Catbird, noted that their first go at product bundles has been particularly popular — also generating a feeling of ‘newness’ with their long-standing jewelry designs.
  • Many of these bundles are geared specifically towards breaking up the bundle into multiple gifts to make purchases go further such as Boy Smells’ candle set marketed as “three perfect scents you can break apart to gift or keep all for yourself.”
  • Some brands opt for an ‘exclusive’ holiday bundle to entice customers such as Cadence’s holiday bundle that features their refillable travel capsules in limited-edition colors that are retired past favorites.

Consumer x Brand Opportunity:

Create value by putting together bundles perfect for the thrifty shopper or holiday gifting. What combo of products will consumers want to gift, but also keep for themselves?

One question to ask your consumers:

Who is the hardest person to shop for on your holiday list and why?

Sources: Modern Retail

The Wax: November 2022 Drop

Physical stores as a digital shopping experience

The Future is Phygital

  • Consumers love the ease and transparency of shopping online and they’ve become accustomed to a seamless digital shopping experience. Still, e-commerce is only 14% of retail sales.
  • The future of shopping is merging the digital expectations consumers have with the in-store shopping experience. Brands like Cooler Screens are up for the challenge.
  • In-store digital media modernizes shopping with digital screens built into existing store formats shoppers are familiar with. The screens adapt and improve information access and relevance for consumers as they shop.
  • Clothing brands like Reformation have started merging in store and online shopping by outfitting their walls with screens.
  • The in-store retail media audience is unique in that they’re already shopping and seeking information. The phygital approach is the best of both worlds, offering the tactical in store experience, with the unlimited access to information and inventory that you get online.

Consumer x Brand Opportunity:

Brainstorm what information your audience is looking for while shopping. What about your brand do they want to know more about? This could be your clever way into promoting via in-store digital media.

One question to ask your consumers:

What’s something you wish you had while shopping in-store, that you rely on while shopping online?

Sources: AdAge, Cooler Screens

The Wax: November 2022 Drop

Time for brands to BeReal?

Brands are testing the waters of BeReal

  • BeReal’s popularity has been growing quickly, especially with Gen Z, due to its unfiltered authenticity. Some brands are taking advantage of the early honeymoon stage and jumping on board.
  • Chipotle is one early adopter who has used the platform to share special promotions with its already maxed-out friend limit.
  • e.l.f. Beauty has leveraged the platform to give their Gen Z consumer base an intimate look behind the scenes of their headquarters.
  • However, BeReal’s authentic approach can be intimidating for brands and along with its low friend limit and lack of robust search function it has some wondering if it is worth exploring.
  • The app’s spontaneity can also be seen as somewhat inconvenient for social media teams to get approval for content — and adding more to their already around-the-clock demands.

Consumer x Brand Opportunity:

Whether it is a fad or here to stay, BeReal can be a valuable space for brands to connect with younger consumers on a more personable level and get the rare opportunity to experiment with a social platform in its infancy.

One question to ask your consumers:

Are you getting real on BeReal? If so, what is it about BeReal that you like compared to other social platforms?

Sources: Inverse, Future Party, PR Week

The Wax: November 2022 Drop
The Wax: November 2022 Drop

The Wax reported by:
Kalinda Panholzer & Carly Stern
2022 Platform Listeners

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