According to The National Retail Federation, $466 billion will be spent on holiday shopping this year, making it critical for retailers to understand the driving factors in shoppers’ decision making. Likewise, with the proliferation of digital and mobile devices, consumers have more information at their disposal to help make purchasing decisions. In fact, according to Yahoo’s recent Holiday Shopping Intentions study, half of consumers say they’ll use the Internet to research holiday purchases more this year versus last.
In this study, we set out to understand what influences consumers shopping behavior as well as their expectations around online advertising. In an effort to help marketers best reach their consumers during this important shopping season, Yahoo! partnered with Ipsos OTX to survey 1,500 consumers age 18-64 and mined comScore data for further proof points.
Here are a few key findings and implications:
1. Create a sustained and familiar presence, even after the holidays.
Over 60% of consumers say they will start shopping on or before Black Friday and two-thirds of Women 35+ told us that they plan to take advantage of sales after the holiday season.
2. Don’t ignore men.
Men have the largest budget for holiday gifts this year, with Dads planning to spend 23% more than Moms on holiday gifts.
3. Leverage the scale of online.
Consumers are searching and taking cues from online display ads. 77% of consumers say they have or plan to use online sources to research upcoming holiday purchases. Additionally, online and mobile are consistent touchpoints throughout the holiday shopping season. Take advantage of media that builds reach fast.
4. Think beyond e-commerce.
Over half of consumers are using the Internet for gift ideas. Therefore, marketers have the opportunity to build brand equity by engaging with consumers before the point-of-sale.
5. Engage via mobile campaigns.
Two in five consumers either use their phones to take product pictures, communicate with friends about shopping ideas or to seek offers. Marketers should include mobile in their digital strategy especially since consumers are often engaged while shopping in stores.
6. Demonstrate value beyond price.
Consumers struggle with gift ideas and finding time to shop. Brands can create extra value by providing solutions for gift ideas or emphasize concepts like saving time, easy shopping experiences, quality and recommendations from others.
Remember, online is much more than ecommerce. Advertisers can leverage the scale of the Internet to reach and engage consumers, but be mindful of consumer needs, interests and intentions during the 2011 holiday shopping season.
Download this article.
Yahoo! Advertising offerings are unique, we have the science, art, and scale to meet any campaign objective – our informed sales force can assist you in structuring your campaign. Contact us today.
