Every year we hear that more and more consumers reduce their anxiety by holiday shopping early at events like Black Friday and Cyber Monday. But the packed parking lots, stuffed buses, clogged streets and research of late December tell us differently. Apparently we’re happy to be shopping.
The research is in.
An Ipsos study has compared shoppers before and after their holiday shopping trips, 68% more described their mood as “happy” after they completed their shopping trips than before.
Here are some of the factors credited for this mood altering activity:
Retailers meeting or exceeding service expectations.
Retailers meeting or exceeding savings expectations.
Shoppers completing their holiday shopping tasks.
Shoppers spending less this year than last year.
Shoppers buying for themselves.
Giving and receiving.
57% of shoppers said they were buying something they wanted for themselves, and among those, 61% were also buying for someone else, enjoying the benefits of both giving and receiving.
The promotion that prompts buying for others and treating yourself at the same time, gets lots of traction.
Prior to working with Ball Retail, our client Chatters Salons was a traditional service provider without a November / December retail program. Their previous focus was on salon services only.
With Ball Retail’s identification of retail sales opportunities, holiday promotions and in-store experiences were created.
In the past six years, Chatters has seen the months of November and December exceed other month’s retail sales, year after year.
Holiday promotions, decor and content.
Helping consumers feel good.
At the centre of promotional framing is letting consumers feel good about their purchases – for themselves and for others. Retailers who follow through on promises to make holiday choices easy and on budget, get a positive response.
Seems retailers who work to make their consumers happy during the holidays are happy too. Learn to price it right, do it up right and create your own “give and ye shall receive” moments.
(Ipsos Study, December 2016)
Jan Ball – Principal, Brands & Strategy.
Following a good brand road map, paves the way to propelling your business further – faster.