With the holiday season quickly approaching, understanding consumers’ online behavior is top of mind for many brands and retailers. And as consumers gear up to find the best deals, it’s up to businesses to be strategic and competitively position their pricing while making sure they still meet customer expectations.

Although in-person shopping has made a comeback post-pandemic, ecommerce and online shopping have become staples of modern life and are an integral part of how people interact with their favorite companies.

The dynamics of the holiday shopping season have also shifted. Brands and retailers have extended the duration of events like Black Friday and Cyber Monday sales, offering incentives like “buy now, pay later.” And U.S. holiday sales in 2023 are expected to rise at the slowest pace in five years due to record-high inflation and the rising cost of living, according to the National Retail Federation (NRF).

To anticipate what deals consumers are hoping to score this year and to gain valuable insights into how brands, retailers and marketers can win this holiday season, see our top insights below. 

Examining online search trends around major shopping events can reveal a lot about consumer behavior during the holiday season. Looking back to November 2019, searches for “Black Friday” dominated with nearly 4 million average monthly searches in the US, while “Cyber Monday” had 550K. However, just a year later in 2020, searches experienced a massive decline (45%), with a downward trend continuing in the following years.

Interestingly, “Cyber Monday'' searches in the US saw a notable spike in November 2021 (from 673K in 2020 to 823K in 2021) but then experienced a slight decline a year later (673K). While Black Friday is more popular than Cyber Monday based on searches, the retail landscape is constantly evolving and future trends may see Cyber Monday emerge as the leader in years to come.

Now, let’s take a closer look into the products, brands, and retailers that are top of mind for consumers.

We know people want the best deals but what products are capturing the most attention? After taking a closer look at how shoppers are searching for the latest gadgets and gifts, Apple products won 13 out of the 20 most searched products over the last year, with eight being iPhone-related products. Video games and consoles are also highly sought after in the US, revealing a strong demand for electronics this year.

While consumers are clearly enthusiastic about landing an Apple deal, they’re more focused on Apple Watches, AirPods, laptops, and tablets when pairing their product search with the term “Black Friday.”

We also see growing interest in gaming consoles, with Nintendo Switch taking the lead, beating out competitors like PS5 and Xbox. There’s also a trend in searches for Dyson home appliances, specifically centered around Black Friday deals.

Beyond products, it's important to understand where consumers are turning to get the best bang for their buck. So, who comes out on top?

Walmart emerged as a leading contender landing near the top spot for general and Black Friday-specific searches between September 2022 and September 2023. However, Amazon continues to dominate the competition with nearly 128 million monthly searches, surpassing the combined searches for the next four top retailers – Walmart, Home Depot, eBay, and Target. 

While this doesn’t come as a surprise, it’s clear Amazon’s success in dynamic competitive pricing structures, among other benefits, resonates with today’s shoppers.

Semrush also analyzed what brands are stealing the show in the eyes of consumers. For general and Black Friday-related searches between September 2022 and September 2023, Old Navy and Lululemon claim the top two spots. Old Navy saw an average of 6.8 million monthly searches with Lululemon following closely behind at 6 million.

Interestingly, the gap is much wider between the two brands when searches were paired with the term “Black Friday” – with Lululemon grabbing a whopping 47% more searches.

With the average price tag difference between these brands’ products, it’s understandable that shoppers would be vying for a Black Friday deal with the more luxurious appeal.

From a broader standpoint, examining the product categories that received the most attention the past three years based on web traffic (September 2021-September 2023) reveals digital products, electronics and home products in the lead.

And speaking of leadership, Amazon emerges as the Black Friday behemoth, and a closer look at the most searched products on the platform during the same period offers surprising takeaways.

Stocked with more than 12M products on its (virtual) shelves, Amazon.com is one of the most trusted shopping platforms for consumers. With an average of 12.2 million monthly searches “Crocs” reign as the most searched product, closely followed by “Airpods” (11.7M), and “Stanley 40 oz Tumbler with handle” (10.4M) revealing a diverse range of consumer interests.

In the months leading up to Black Friday (August-September of 2023), Semrush also uncovered the fastest-growing keyword trends on Amazon. The data reveals searches for “iPhone 15 Pro Max Case” surged 93,884% over the one month period, along with “iPhone 15 Pro Case” by 87,290% and “iPhone 15 Pro Max Screen Protector” by 86,563%.

It’s also noteworthy that one of Amazon’s flagships—the Kindle—takes the lead with searches for “Stuff Your Kindle Day Free” increasing 139,850%.

While no one can predict holiday season outcomes with complete certainty, understanding consumer behavior is a powerful tool for brands, retailers and marketers as they gear up for events like Black Friday and Cyber Monday. As consumer interests intensify, Semrush’s tools can reveal insights to help better position businesses for greater success. Exploring keyword trends across industries through the Keyword Magic Tool can provide valuable intel for launching winning campaigns and staying ahead in the competitive holiday shopping landscape.