In the past two years, consumer behavior has changed from what we were used to, and a lot of retailers are hopeful that this holiday season people will go back to shopping in their physical stores. On the other hand, online shoppers are trying to retain their market share gains from the last couple of years.
In order to make an appropriate strategy for either online or physical retailers, we need to understand how consumer behavior is going to be this season. Sitecore shared a recent study that will help us understand the consumer’s mindset and the trends that retailers and marketers need to consider for holiday campaigns.
Treating oneself.
While traditionally we perceive the holidays as the time to give to others, many people are planning on treating themselves to an expensive luxury item (30% of respondents). And almost half of the respondents say they partake in retail therapy, looking to feel better or distract themselves from troubling world events.
For those businesses that offer products or services that appeal to value-conscious consumers while also providing luxuries, having a strategy that showcases both things is important to securing rewards. Make sure to find a way to show consumers how your products or services are suitable for self-pampering.
Online Shopping Is Preferred.
Online shopping became even more popular in the last couple of years due to the lockdown. However, while many people believe that consumers would resume the in-store experience, the study showed that only 21% of people plan to do that. Meaning that the majority of consumers are not willing to return to their prior habits, opting for online shopping due to the ease and convenience that it offers, plus the benefit of avoiding crowds of people.
Even though the preferred method of shopping is still online, it doesn’t mean that people are looking for anything less than a great experience. It is important to optimize your business’s e-commerce capabilities and checkout processes to attract people and offer the service they are looking for.
Mindful shopping.
A lot of consumers worry about where their money is going as they seek to make their spending count. According to the study mentioned before, people will prioritize buying American-made products, shopping with small businesses, and doing business with minority-owned businesses.
It is important to know that while consumers would like to purchase from minority-owned businesses, they often cannot identify these brands or products. This means there is an opportunity for diverse brands to offer a more personalized experience and to showcase the offering that makes their business stand out.
Free shipping.
We know now that people prefer shopping online; however, there are certain benefits that will further influence their purchase. Free shipping is the perk they look for most when shopping online. Almost one-third of the respondents say they will not purchase something that doesn’t offer free shipping, and they will purchase more to meet a minimum purchase requirement.
Human touch is important.
When the holiday season comes around, many retailers look to scale customer service through chatbots and other technology. However, the vast majority of people prefer speaking with a live agent or chatting with a live agent online.
Businesses need to balance technology and human interaction, but make sure that the agents are well-prepared and have the resources they need to offer the optimal customer experience.
Social Media will influence shopper behavior.
Almost half of the consumers (JungleScout 2022) are likely to purchase from TikTok and Instagram directly, so it is important to leverage these channels and have a strong social media presence. Not only because of this but also because the younger generation says they turn to social media for holiday gift inspiration.
Make sure to have a social presence your audience will appreciate, and a content strategy that will help you gain visibility. At Miss Ink, we can help you with a full digital marketing service. From planning content to managing comments and reviews to social media ads to SEO and beyond, we have you covered. Contact us today to get started on your digital marketing journey.
Resources:
Intelligence Node (2022) 6 Retail Trends that will Dominate the 2022 Holiday Shopping Season
Jungle Scout (2022) Quarterly Changes in Consumer Behavior
Forbes (2022) 2022 Holiday Shopping Trends You Need To Know
AdAge (2022) 5 Holiday Shopping Trends You Should Know About This Season
Sitcore (2022) Secret Shopping During the Workday, Self-Loathing for Self-Gifting, Side Hustling and More: Sitecore 2022 U.S. Holiday Report Exposes the Reality of Holiday Shopping
