News • 01.11.2019

Holiday season: 47% of shoppers need gifting ideas

Research from Periscope® by McKinsey

The "2019 Holiday Season Shopping Report: Shoppers are ready to spend but retailers need to personalize" by Periscope® By McKinsey looks  beyond Periscope's traditional Black Friday research focus to undertake a deeper exploration of shopper attitudes toward a range of holiday shopping events.

Young couple opens Christmas present
Source: PantherMedia / AllaSerebrina

Consumers Are Looking For Inspiration

With almost half of consumers admitting that they are looking for gift ideas, browsing in-store was listed as the top research channel utilized by consumers in Canada , the US and Germany. The top preference for UK shoppers is browsing retailer websites even before browsing in-store.

To help inform their buying decisions this holiday season, consumers also welcome receiving marketing messages and communications from retailers that help inform and guide their seasonal shopping efforts. Promotional e-mails were by far the most preferred choice for the majority of shoppers in all territories surveyed.

Clear Customer Segments Emerge

The research findings reveal that savvy retailers will need to think beyond Black Friday – getting both the timing and targeting of promotions and deals right to capture those hyper-organized consumers keen to get their gift shopping tasks wrapped up early. Asked when they start thinking about shopping for the festive holidays, 52 percent of female shoppers in the UK and 50 percent in the US said that they get a jump-start on their holiday gift buying in the October-November timeframe, followed closely by 46 percent of female consumers in Germany and Canada. Female shoppers evidently represent a prime target from pre-October to early November which retailers would be remiss to overlook, whereas the mid-end of October to December timeframe is the ideal window to capture the attention of male shoppers . For women, the focus is on gift purchases for the household and children, while male consumers shop primarily for their partner/significant other (and for themselves).

Asked about the monetary value of their holiday spend budgets, consumers in Canada and the US had allocated the highest budgets for their seasonal purchases; 18 percent of US and 16 percent of Canadian shoppers expect to spend $1000 or more. Meanwhile, shoppers in Germany appear the most muted with regard to their gifting budgets – with 14 percent saying they will spend less than $100.

Mobile Has Transformed In-Store Shopping Behaviors

For today's connected consumers, the smartphone has become a vital shopping aid. Far from diminishing the appeal of physical shopping, smartphones are being used for a variety of select purposes whenever shoppers visit bricks-and-mortar stores. The study findings show 51 percent of consumers use them to compare prices with competitors, 33 percent to search for in-store discounts or coupons, and 30 percent to look up further product information.

Retailers should not assume it's only the younger generations are using their smartphones to compare prices/products, read reviews, hunt down coupons or purchase products they've looked at/touched when in-store. The research findings indicate that those over 50 and the 60-69 age cohort are also intrigued by such activities.

Taking advantage of a digitally enabled in-store shopping experience is also particularly appealing to consumers aged 18-39. For them, facilities such as mobile POS, digital displays to view products, the ability to self-check-out, and get offers on their phones all add up to a more convenient and consistent experience.

Brian Elliott, Founder, Senior Advisor & Head of Innovation at Periscope By McKinsey, said: "Given these trends, it's becoming clear that the winners of this holiday season will be those retailers who get personalization right, create omnichannel experiences, and win the battle of consideration by launching promotional campaigns earlier."

Source: Periscope by McKinsey

related articles:

popular articles:

Thumbnail-Photo: Distract or divert!
10.09.2019   #customer satisfaction #customer relationship management

Distract or divert!

How to engage customers at the checkout

Retailers and retail designers spend a considerable amount of time discussing and juggling a crucial aspect of the customer experience at the point of purchase: the checkout.To be fair, it’s not easy to turn the moment when customers have to ...

Thumbnail-Photo: A pearl among commodities: encouraging impulse buys...
11.09.2019   #pos marketing #customer analysis

A pearl among commodities: encouraging impulse buys

How to make the most of wait times

It’s wonderful if customers come to retail stores to buy things. It’s fantastic if they buy more than they planned to purchase. This offers many opportunities, especially for brick and mortar retailers as surveys show: customers are more ...

Thumbnail-Photo: Video: How loadbee works
24.09.2019   #online trading #online marketing

Video: How loadbee works

Platform for distributing product information

It is important for retailers to have the right sales-promoting content for each customer. That exact content traders will receive with the industry-wide loadbee platform for retailers and manufacturers from B2C and B2B from their suppliers directly ...

Thumbnail-Photo: Goal: Turning into the ‘Uber’ in foot wear retail...
30.09.2019   #online trading #e-commerce

Goal: Turning into the ‘Uber’ in foot wear retail

Vietnamese sandals brand SADOO eyeing US market with unique business model

SAADO, a popular Vietnamese sandals start-up that has sold 66,000 pairs of shoes and successfully entered four Asian countries within one year, is now eyeing the US market.Set up by Phung Le Lam Hai last year after realizing there is high demand for ...

Thumbnail-Photo: Sensory experiences increase in-store sales
29.11.2019   #digital signage #pos marketing

Sensory experiences increase in-store sales

New Research from Mood Media confirms that sensory marketing has a positive emotional, cognitive and behavioral impact on shoppers

Mood Media, the world’s leading in-store media solutions company dedicated to elevating the Customer Experience, today released a new quantitative behavioral marketing study, “Quantifying the Impact of Sensory Marketing,” which ...

Thumbnail-Photo: Over fifty retailers demand chancellor fix business taxation...
20.08.2019   #brick and mortar retail #financial accounting

Over fifty retailers demand chancellor fix business taxation

High Street chains and shops sign a letter over business rates

Over fifty major retailers have come together to demand the Government takes action to fix the broken business rates system. In a letter to the new Chancellor, Sajid Javid, retailers called on the Government to put business rates at heart of the ...

Thumbnail-Photo: Retail problems: We’ve got the premises but where are the customers?...
04.11.2019   #customer satisfaction #pos marketing

Retail problems: We’ve got the premises but where are the customers?

The Trendforum Retail 2019 highlighted multi-use retail developments

At the Trendforum Retail on October 9 &10, 2019, in Schwalbach near Frankfurt am Main, speakers and visitors examined how brick and mortar retailers can attract, keep and excite customers.Interested event participants were given a tour by Marcus ...

Thumbnail-Photo: Mobile shoe closet on the road
27.09.2019   #sales promotion #fashion

Mobile shoe closet on the road

Luxury brand Tamara Mellon with first-ever traveling shoe store

Tamara Mellon, direct-to-consumer luxury brand, is taking their innovative retail concept on the road with the launch of the mobile TM Closet — the first-ever traveling shoe closet.Kicking off in Boston, the TM Closet will be located in ...

Thumbnail-Photo: All Influencer Marketing Conference 2020
11.12.2019   #digital marketing #marketing planing

All Influencer Marketing Conference 2020

The All Influencer Marketing Conference will take place for the fourth time on 19 March 2020 at the ICM Munich.

Influencer marketing is becoming more and more important! The importance of this discipline has rapidly increased in the marketing plan and almost every company is doing influencer marketing or is planning to do so in the near future. Why? No ...

Thumbnail-Photo: Vast majority of consumers plan to return holiday gifts...
03.10.2019   #pos marketing #personalization

Vast majority of consumers plan to return holiday gifts

“Retailers need to seize the moment."

During the upcoming holiday season 77 percent of consumers surveyed said they plan to return a portion of their gifts, with nearly 20 percent expecting to return more than half of their presents (sorry grandma!). This is both a blessing and a curse ...

Supplier

Mood Media GmbH
Mood Media GmbH
Wandalenweg 30
20097 Hamburg
POS TUNING Udo Voßhenrich GmbH & Co KG
POS TUNING Udo Voßhenrich GmbH & Co KG
Am Zubringer 8
32107 Bad Salzuflen
loadbee GmbH
loadbee GmbH
Nikolaus-Otto-Straße 13
70771 Leinfelden-Echterdingen
APG Cash Drawer
APG Cash Drawer
4 The Drove
BN9 0LA Newhaven
HappyOrNot
HappyOrNot
Innere Kanalstraße 15
50823 Köln
VKF Renzel GmbH
VKF Renzel GmbH
Im Geer 15
46419 Isselburg