Buyer Behavior: Holiday Shopping
A recent survey conducted by Toluna, an online community that collects data about consumer behavior, revealed some interesting insights about buyer behavior and how shoppers are approaching their gift list this year. The holiday season is well underway, how can brands stand out and provide what their customers are looking for? Ad House Advertising is here to help! Here are some of the highlights from the Toluna survey, and what they mean for you!
- Gen Z’ers and millennials are generally upbeat about the economy, which is a good thing for brands. It means more spending. Toluna reports that almost 90% of shoppers can’t wait to purchase holiday gifts, but almost half of the respondents reported sticking to a budget.
- Most shoppers are only planning to purchase one gift for their close friends or their spouse. Shoppers are opting for quality over quantity.
- 43% of respondents said they plan to purchase electronics for their children or their spouse, and only 31% said that they would buy electronics for themselves. When shoppers are looking to purchase electronics, the process is increasingly multi-platform, with buyers just as likely to research on their phone or desktop as they are to visit a store in-person to learn more.
- While word of mouth is still the most influential decision driver, 54.7% of respondents said this impacted their decisions, television commercials are close behind at 51.5%, and digital ads are at 30.5%
- Retargeting ads are very effective. 36.4% of shoppers reported that a retargeting ad compelled them to make a purchase. 45.5% of shoppers said that retargeting ads influenced them to consider a product or service.
This survey conducted by Toluna is good news for marketers and brands. Shoppers are inclined to spend this year, and they’re willing to spend on quality gifts for their close family and friends. Consumers are paying attention to television and digital ads, and are willing to conduct further research on products that are advertised to them. Small and medium-sized businesses can learn from this and leverage strategic television and digital ad placement to influence consumer decisions. At Ad House Advertising, our expert media strategists and creative professionals can help you craft compelling television and online ads to bring more people into your store this holiday season. Contact us for more information!
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