I don't know about you, but I'm continually searching for information during the holiday season to find the perfect gift for the best price. RetailMeNot survey data released this week suggests that consumers plan to spend an average of $803 during the Black Friday to Cyber Monday weekend, up from $743 last year
Some 87% of consumers will search for personal deals when shopping for holiday gifts, and 60% plan to hit the stores for holiday purchases long before Black Friday.
The top six November shopping days in 2018 include November 22 through November 27, but they will be looking for all sorts of deals. Sixty-one percent of online shoppers say they will not complete a purchase during the holiday season without free shipping.
The 2018 Holiday Insight Guide includes new data showing that 60% of retailers expect a better holiday season, but 86% feel pressure to compete with Amazon and other competitors.
Millennials are 42% more likely than Gen X, at 34%, and Boomers, at 22%, to visit brick-and-mortar stores on Thanksgiving Day. This generation wants to prepare early, with 89% of millennials admitting they would like to have gift purchases in hand as soon as possible.
Some 72% of millennials say it is important to them that retailers personalize their shopping experience. In fact 36% said they are more likely to spend additional money with a retailer known for great customer service, compared with Gen X at 27% and Boomers at 30%.
Nearly all retailers, at 95%, agree that deals and discounts are more effective at driving purchases during the holiday season. Some 81% said they will offer more discounts this holiday season, compared with last year. About 74% said they will begin marketing earlier this year, and 71% said they will offer deeper discounts.
For the 2018 holiday season, retailers plan to increase their investments in mobile by 72% and social media by 69%, as well as 74% say they will begin marketing efforts earlier in the year, compared with 2017.
For those using social, 90% of marketers plan to reach consumers through Facebook, 76% through Instagram, 53% through Pinterest, 50% through Snapchat, 45% through fashion and beauty influencers, 39% through vloggers and 29% through celebrity influencers.
The top three places where consumers will look for gifts are department stores at 67%, online only retailers at 60%, and big box stores at 47%.
Some 67% of consumers admit to spending more money with a brand or retailer this holiday season if it has the lowest price on the gift, which means brand loyalty isn’t a consideration.
Location might even trump brand loyalty when shopping in a physical store. A recent Uberall survey found more than 80% of people typically conduct a “near me” mobile search. Some are going to the retailer’s website for direction. When asked how likely the respondents were to use a store finder on a retailer or brand’s website, 42% said they were “very likely.”