We compiled these trends from over 100 brands, comparing year-over-year data for the date range June 1, 2024, to June 30, 2024.
June 2024: Summer Boost: Rising Consumer Engagement
The apparel sector shows strong demand compared to other industries experiencing subdued or stable demand. Despite this, all sectors saw increased consumer engagement in June. The rise in website sessions, alongside flat demand, indicates heightened consumer interest. However, fewer orders may reflect economic uncertainties despite a 3.38% increase in average order values from the previous year, suggesting cautious consumer spending.
Businesses should adopt strategies to capitalize on consumer engagement while navigating economic challenges for sustained growth. Economists anticipate a slowdown and speculate on potential Federal Reserve interest rate cuts by September. The upcoming 2024 presidential election introduces financial and investment uncertainties, with J.P. Morgan Wealth Management discussing these implications and emphasizing sector-specific impacts like finance and healthcare. Despite short-term market volatility, the long-term effects of elections on markets and the economy remain unpredictable, urging investors to maintain a stable, long-term financial strategy.
June 2024 Marketing Trends
Trend #1: July Postal Increases Have Arrived
The Postal Regulatory Commission has approved the United States Postal Service’s proposed July rates but strongly advises against using their full rate authority. Concerns include the potential widespread impact, imprudence, and lack of consideration for stakeholder interests in the Postal Service’s proposal.
Specifically, the Commission is troubled by significant declines in Market Dominant volumes, overall service performance, and the Postal Service’s financial situation. To address these concerns, the Commission has initiated Docket No. RM2024-4 to evaluate the effectiveness of the current rate-setting system.
While this review is ongoing, the Commission urges the Postal Service Governors to exercise business judgment and consider stakeholder concerns when deciding on future Market Dominant price adjustments, as outlined in Order No. 5763. The Commission recommends that Governors, by legal requirements, refrain from implementing rate increases up to the maximum permissible by law. Given recent frequent adjustments and declining service performance, stakeholders have provided reasons why lower rate increases may be appropriate.
Moreover, the Commission notes that the Postal Service’s liquidity was $16.150 billion as of March 2024, highlighting the financial context for rate decisions moving forward.
Read more on Alliance of Nonprofit Mailers, & Postal Regulatory Commission
Trend #2: USPS Regulatory Commission Recommends Halting DeJoy’s Reforms for Further Review
U.S. Postal Service (USPS) Postmaster General Louis DeJoy’s network reform initiatives have faced scrutiny. The Postal Regulatory Commission (PRC) has recommended a pause on these efforts until further evaluation.
The reforms, aimed at improving efficiency and cutting costs, have sparked significant concern regarding their impact on service quality and delivery times. The PRC suggests that these changes might not achieve their intended goals and could undermine the USPS’s mission to provide reliable service.
This recommendation for a halt comes as part of a broader critique of DeJoy’s strategies, emphasizing the need for a more thorough analysis before proceeding with extensive network modifications.
Read more on Government Executive, ACMA Comments
Trend #3: Marketing During the 2024 Summer Olympics
The 2024 Paris Olympics will be the city’s third time hosting the Summer Games, blending tradition with modernity. Iconic landmarks like the Eiffel Tower will feature prominently, and new sports such as surfing, skateboarding, and sport climbing will debut. Paris aims to deliver the most environmentally friendly Olympics, using existing venues and eco-friendly practices.
Marketing during the Olympics necessitates a well-thought-out strategy. Brands can leverage engaging and relevant content that resonates with the Olympic spirit and utilize digital and social media for broader engagement.
Localized campaigns tailored to regional preferences, agile real-time marketing, and emphasizing ethical and inclusive messaging are crucial. For instance, featuring local athletes who achieve remarkable feats can resonate deeply with regional audiences, fostering a sense of pride and connection. Agile real-time marketing allows brands to respond swiftly to unforgettable moments, such as a record-breaking performance or a historic victory, capturing the excitement and engagement of viewers.
Brands can effectively highlight their ethical and sustainability efforts during the Olympics by using eco-friendly materials across their marketing and packaging. By sourcing from certified forests and suppliers, brands can immediately showcase their environmental commitment. Olympic-themed campaigns, such as promotional offers on sustainable products, can tie the brand’s efforts to the event’s sustainability goals. Educational content, like infographics and QR codes linking to detailed sustainability information, can further engage and inform recipients about a brand’s efforts.
Read more on Midland Paper, & Carbon Balance Paper World Land Trust
Trend #4: In a Cluttered Marketplace, Simplicity Wins
Consumers’ attention is nearly impossible to catch, so when someone interacts with your brand for a few seconds, what do you want them to see? How do you want them to feel? With a powerful, recognizable brand, removing clutter and simplifying things for consumers will captivate their attention longer than you think.
We’re sharing a couple of examples that caught our team’s attention. In the top outdoor ad, Cheerios’ billboard immediately grabs our attention, relying on its near universal brand awareness. There is no logo, call-to-action, URL, phone number, or offer. The font, color and shape are immediately recognizable as Cheerios. The simple, two-word headline is all they need to make us feel something, do something, and remind us to grab a box of Cheerios at the store.
In the bottom example, Mack Weldon approached its rebrand with a similar mindset—less is more. The updated messaging, packaging and new tagline are beautifully simple, demonstrating how less ‘noise’ can engage consumers more meaningfully.
Trend #5: Significant Synergies Between Print and Paid Search
Many companies struggle to understand the halo effect that print has in driving e-commerce sales, but we’ve seen it time and time again: direct mail and catalog supercharge the marketing mix. There is significant collective coordination between paid search and direct mail. When you remove direct mail, paid search drops in response. Conversely, when a first-time mailer adds direct mail into the mix, they can easily see a 30%- 40% increase in traffic.
As privacy laws tighten, and social targeting loses efficacy, and people tune out the bulk of digital marketing, many are taking another look at direct mail and catalog. They can often see a positive ROI in the first drop.
Listen to Tim M. Curtis, DCMP, President of CohereOne, as he shares his marketing insights on the Nerd Marketing podcast from PostPilot.
See the full Marketing Nerds podcast at Post Pilot
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Marketing KPIs: June 2024 Trends by Industry
Marketing KPIs: June 2024 Trends by Company Revenue
$100M+ | $15M-$100M | $0-$15M
Marketing KPIs: June 2024 Trends by Industry
Apparel Industry Thrives
• Demand Improved +7.38%: Increased sessions and demand show strong market interest, but flat order rates indicate a need to refine strategies for converting interest into sales growth. Effective strategies have boosted average order values by 5.93% compared to last year.
• Orders Flat +0.03%: In June, the apparel sector noted fewer transactions but higher revenue per transaction, highlighting ongoing strong interest in the apparel market.
• Sessions Increased +9.52%: Increased web traffic indicates sustained consumer interest in apparel, emphasizing the sector’s strong market presence and enduring appeal amid ongoing engagement with fashion trends and products.
Home Brands Hold Steady with Slight Dip
• Demand Flat +0.09%: Overall demand remained steady compared to the previous June.
• Orders Decreased -1.91%: In June, home brands observed a slight decline in orders, suggesting possible challenges with conversions. As the fall holiday season approaches, brands should review their strategies to ensure they can adjust and succeed in the evolving market landscape.
• Sessions Increased +7.73%: Increasing web traffic indicates growing consumer interest in the home sector, highlighting strong industry engagement. Businesses should prioritize acquisition strategies to leverage this momentum in the second half of the year.
Outdoor Brands Pause Amidst Peak Customer Interest
• Demand Decreased -3.46%: Despite interest and stable average orders (0.93% compared to last year), declining orders and demand indicate potential budget constraints or economic uncertainties, reducing consumer purchases.
• Orders Decreased -4.41%: The drop in orders despite higher consumer engagement highlights conversion rate issues.
• Sessions Increased +14.12%: The increase in sessions reflects ongoing consumer enthusiasm for outdoor products despite ongoing challenges with conversion. June’s results underscore decreased demand while highlighting heightened engagement across various outdoor brands.
Specialty Retailers Grapple with Conversion Hurdles
• Demand Decreased -8.89%: Decreased demand and orders alongside flat sessions highlight the need to improve conversion strategies. Addressing barriers to purchase is crucial for stimulating effective sales growth.
• Orders Declined -13.39%: June’s notable drop in orders suggests shifting consumer priorities, conversion challenges, or economic changes, prompting specialty brands to strategize for improvement in the second half of the year.
• Sessions Flat -1.88%: Specialty brands maintained consistent website traffic levels compared to last year. This stability provides a solid foundation for specialty brands to build upon as they strategize for sustained growth and customer retention in the coming months.
Marketing KPIs: June 2024 Trends by Company Revenue
Tier 1 Brands: High Engagement, Low Conversions
• Demand Growth +4.96%: Year-over-year data shows a slight increase in demand. Tier 1 brands can capitalize on this opportunity by exploring new acquisition strategies to enhance their performance further.
• Orders Flat +1.34%: In June, orders remained unchanged from the previous year despite increased sessions, with conversion rates still down.
• Sessions Increased +9.84%: In June, session volumes increased compared to the previous year, showing higher customer engagement. However, stagnant orders and a slight demand increase suggest factors affecting conversion rates despite a 3.73% rise in average order values.
Tier 2 Brands: Remain Flat
• Demand Decreased -2.14%: Tier 2 brands saw a slight decrease in demand compared to the previous June, indicating a modest decline in overall customer spending.
• Orders Decline -6.57%: Despite a slight increase in June website sessions, conversion rates remained lower than the previous June. Brands can enhance sales by implementing personalized retargeting campaigns focused on browsing and abandoned carts, improving purchase conversions.
• Sessions Increased +3.70%: Several Tier 2 brands maintained steady website traffic in June, bolstering brand visibility and customer engagement and laying a solid foundation for growth and retention initiatives.
Tier 3 Brands: Strong Engagement, Yet Performance Continues to Experience Decline
• Demand Flat 0.32%: Tier 3 brands maintained performance in June, demonstrating sustained consumer interest despite inflationary pressures and decreased orders.
• Orders Declined -4.89%: Decreased orders with higher website sessions indicate growth potential through customer engagement. Analyzing customer behavior to identify conversion barriers and implementing effective strategies could boost sales.
• Sessions Increased +12.51%: The rise in sessions indicates increased customer engagement. Despite this, the lack of growth in demand and declining orders compared to last June suggests difficulties translating interest into actual sales. Tier 3 brands should prioritize investigating and addressing the factors that hinder this conversion process.
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USPS Annual Performance Report
The Postal Regulatory Commission reviewed USPS’s FY 2023 Annual Performance Report and FY 2024 Performance Plan, focusing on four goals: High-Quality Service, Excellent Customer Experience, Safe Workplace and Engaged Workforce, and Financial Health. The Commission evaluates USPS performance annually and may recommend actions to support Congress’s postal system objectives. Access the full report and recommendations below.
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Tags: June 2024 Marketing Benchmarks, June 2024 Marketing KPIs