Online merchants look forward to the holiday season because during this time they earn considerable revenue. Moreover, it also provides them with ample opportunity to grab the market share by attracting new customers through their attractive products and services.
It is the holiday season, so it is expected that the consumers will spend substantial amount of money. What e-sellers are more concerned with is how and where this money will be spent. They can devise better strategies if they know the answer to the above questions.
The survey that can provide some answers
In early October, branding agency SGK Inc. conducted a survey in which around 2,100 consumers participated. 13.6% participants in that group said that they started their holiday shopping before September, while 10.3% of them started in September. These early shoppers do not intend to finish early. They want to take their time and clinch the right deal. In that survey, more than half the consumers have said that they will continue to shop on the day after Thanksgiving.
76% of the shoppers said that they plan on spending more this holiday season than last year. Out of these shoppers who will shell out more, 79% of them will be occasionally using mobile devices for product research. While buying, such consumers also compare the prices from other retailers’ websites and request price matches.
Consumers who said that they will spend the same, only 18% of them will compare prices and buy from another merchant’s website from their mobile devices when they are in a store. 46% of such buyers will request for a price match. Those shoppers who will spend less than last year, only 11% of them will engage in price comparison and use their mobile devices for shopping, and 28% will ask for a price match.
Shoppers belonging to the 18-34 age group will use their mobile devices more readily than older buyers. 82% of buyers in this age group engage in product research on their mobile devices, compared to 60% of those aged 35-54 and 32% of those belonging to 55 or older age bracket. 75% of the young shoppers will compare prices and buy from another e-seller’s web site using their mobile gadgets, whereas figure is 53% for middle-aged shoppers and 25% for older shoppers. 75% of young buyers will ask for a price match, while the figures are 46% and 25% for middle-aged shoppers and older shoppers respectively.