One of the
foremost things on an advertisers mind at this time of year is holiday shopper
behavior. Mindshare has just announced the results of their new research study that
reveals fascinating consumer behaviors among those who said that they were
planning to shop on either Black Friday or Cyber Monday.
As
their press release noted, “Mindshare NA surveyed 779 upcoming shoppers for
Black Friday or Cyber Monday to look at what (and why) people want to buy, what
they want from retailers, where they seek discounts, and much more. The
research was led by Shop+ (the agency's dedicated retail unit) using The Pool
(Mindshare's proprietary research tool).” The study polled Adults 18+ with an
even split between men and women.
Joe
Migliozzi, Managing Director, Shop+ Lead, Mindshare, explained some of the
study takeaways and how advertisers can maximize their impact on buying
decisions:
1.
Never
underestimate the power of showrooming. A great deal of shoppers will use
their phones to check for prices while in-store, which means there’s an
opportunity for competing brands and retailers to push out their messages
instead.
2.
Shoppers
have clear budgets in mind. Brands and retailers should consider helping
shoppers find the products that meet their budget by curating their offer
messaging and promotions for different types of shoppers and budget ranges.
That applies to social media in particular. As people are posting deals and
what they bought afterwards on their social networks, brands can engage with
these posts and offer shoppers additional services, be it future discounts or
customer service.
3.
Many
shoppers have an expectation that there will be deals that supersede all other
deals—64% of shoppers in our study said that they get deals on Black Friday
that they can’t get at any other time, a data point that rises to 72% for
millennial shoppers in particular. So, if your brand thinks as the holidays as
simply a time to piggyback on increased retail traffic, that’s a mistake. Planning
for increased discounts and promotions during this time is critical to grabbing
shoppers’ attention.
4.
Men are
avid shoppers. It was surprising to see how much men took the lead on not
just spending (although that was quite significant – men say they’ll spend
nearly 69% more than women), but certain behaviors as well. Part of that has to
do with their purchase of big ticket items, and part of that has to do with
greater numbers of men who strongly believe that there are certain deals you
can only get this time of year, certain deals that you can only get in store,
and more.
In terms of
how these results can be used to predict the success of Black Friday and Cyber
Monday, Migliozzi explained, “We surveyed folks who were already planning to
shop so we believe that brands and retailers who ground their media strategies
in data and insights and continue to adapt to changes and events throughout the
holiday season will do better than those who don’t.”
This article first appeared in www.MediaVillage.com
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