It’s not even Halloween and we’ve already gotten some research on Holiday shopping trends. It certainly looks like digital and mobile will have a bigger impact and yesterday’s post pointed to shoppers hitting the stores earlier than normal. Some other research that has been released has to do with how consumers are feeling about the economy and how it might influence what and when people shop.
• One in four think that the economy
• Less than 5% believe that it is in good or fantastic shape
• Adults age 55+ have the dimmest view of economic conditions – Almost 80% say it’s bad or terrible
• Nearly 40% of adults under 35 see the economy as okay, good or fantastic
• Roughly 25% of consumers think it will be difficult to purchase things over the next couple of months
• 40% think they will be able to get most of what they need, but not all
• Just over a third are not worried about their ability to make purchases for the holidays
What Does This Mean To You?
The early bird gets worm. Do what you can to motivate and monetize your loyal shoppers. Since they are already spending with you – reach out to them about how convenient holiday shopping is with you. Also consider your offers. Nearly two-thirds of consumers think it will be difficult to get everything they need. Make your store a shopping destination for your loyal customers. Last year, free shipping was a major determiner for consumers. Stores that offered it saw bigger results than those who did not. If you can’t offer free shipping, look into discounted shipping with increased spending. All of your marketing efforts should reflect similar messaging. Do not forget about social media as well – this is a great place to post testimonials. Let your shoppers be your voice and promote the convenience you offer, the service you provide and the savings other customers can enjoy. For more information on getting the most out of the holidays, please contact: