The biggest shopping weekend of the year is upon us; this year, Black Friday & Cyber Monday are expected to continue to raise the bar for consumers’ annual spending during the holiday season, and brands like Ōura Health are taking new tactics to beat the competition in the race for consumer dollars.
In an age where health and wellness are paramount, Ōura Health has emerged as a frontrunner in promoting personal well-being through its innovative product, the Ōura Ring. This sleek, sophisticated piece of technology not only tracks sleep patterns, heart rate, and activity levels but also empowers users to make informed decisions about their health. In a world increasingly focused on wellness, the Ōura Ring stands out as an excellent tool to help individuals on their journey to better health.
Ōura Health’s campaign timing is no coincidence; the health technology company is perfectly poised to capture consumer attention during the biggest Black Friday season to date. Recent statistics from Adobe indicate that the period known as Cyber Week, which encompasses Thanksgiving, Black Friday, and Cyber Monday, is expected to drive an astounding $40.6 billion in online spending. This projection marks a 7.0% year-over-year increase and represents a significant 16.9% of the entire holiday season shopping spree.
This year, advertising tactics such as the “Lowest Price Ever” tagline rolled out by Ōura in LAX and DFW, reflect a heightened sensitivity to budget-consciousness among travelers and are designed to capture consumers specifically incentivized to shop by discounts.
Further Adobe data reveals that past promotional events showed a remarkable connection between price reductions and consumer demand. For every 1% decrease in price during major sales events (such as Prime Day and Labor Day), demand surged by 1.025% compared to the previous year. This holiday season, Adobe anticipates that the strong consumer response to discounts will add an incremental $2 billion to $3 billion in online spending. Moreover, a report from YouGov emphasizes that discounts and deals remain the primary motivator for Black Friday and Cyber Monday shoppers, with 73% of respondents citing this as their main incentive.
Despite this apparent price sensitivity, the trend in consumer preferences seems to be shifting towards bigger ticket items. This holiday season, the share of the most expensive goods is projected to rise by 19% compared to pre-season trends, largely due to competitive discounts driving sales. Categories such as sporting goods are particularly vulnerable to this phenomenon, with an expected 76% increase in the share of high-end products. Electronics also foresee a significant rise of 58%. With a relatively high price tag, Ōura’s products, sitting at the intersection of health/sporting tracking and technology, are highly likely to benefit from these behavior shifts.
Advertising in international airports makes sense: according to YouGov data, the Cyber Week shopping trend has expanded beyond America’s borders. While Cyber Monday remains a primarily American phenomenon, the U.S. ranks 8th for Black Friday shopping intent across 17 surveyed countries. As two of the biggest global travel hubs, choosing Dallas Fort Worth and Los Angeles international airports for advertising ahead of these crucial shopping dates is a savvy marketing move for brands looking to make big sales in November and early December.
Mobile shopping is becoming an increasingly effective channel this year. Shopping through mobile devices is anticipated to hit a groundbreaking milestone, contributing a record $128.1 billion—an increase of 12.8% year-over-year. This figure represents a remarkable 53.2% share of the online spending pie this season, overshadowing traditional desktop shopping. With a high engagement rate compared to other media platforms, airport advertising is the perfect platform to take advantage of this shift. JCDecaux and Ipsos’ Global Airport Research in 2023 found that 73% of U.S. flyers took action after seeing an advertisement during or after a trip in the past year- with 50% saying they purchased an advertised good. With lots of downtime and a propensity to shop on their mobile phones, targeting consumers inside the airport is a great strategy for Ōura.
Ōura Health is riding the rising tide of increased digital integration into the healthcare industry- according to Statista, over 1.3 billion people will use digital health this year and wearables, such as their Ring, are one of the most popular ways consumers interact with this industry. An already massive market, worth over 25 billion USD in 2023, is poised for major growth in the next few years and is forecasted to be valued at over 76 billion by 2029.
As this market turns from a niche for specifically tech-savvy consumers to a crowded marketplace, industry leading brands like Ōura can rely on out-of-home advertising to gain and maintain brand awareness among both early adopters and the general public and leverage our digital flexibility to implement brand storytelling for a strong relationship with consumers.
Ōura’s campaign across our digital airport inventory is aimed at success beyond the holiday shopping season; in addition to their discount-focused creatives in DFW and LAX, Ōura is blanketing LAX with creatives that connect with key consumers in the busy travel hub. According to U.S. mobile phone signals from Neustar, Los Angeles International Airport passengers index highly for both health conscious and technology enthusiast personality and demographic traits.
The intersection of health innovation, consumer spending trends, and our digital advertising media in key locations has created the perfect opportunity for health technology Ōura Health to make the most of the seasonal shopping frenzy and set their brand up for long term success in a growing market.