Five consumer trends this holiday season
Bargain hunting is on the rise this year, with 62 per cent seeking incentives before they make their purchases compared to 51 per cent in 2022.
New research from InMobi and Glance shows that there has been a marked shift in buyer personas, with more bargain hunters and less shoppers sticking to specific brands.
“With bargain hunting a key driver for festive shopping this year, retailers will need to ensure they are present at all touch points of the shopping journey,” says Jaclyn Hadida, country manager ANZ at InMobi.
“This means understanding their online and offline behaviour to drive engagement and utility at the moments that matter to them.”
Indeed, a combination of physical and digital shopping was more widespread this year with 64 per cent of shoppers planning to purchase both online and offline. Apparel and accessories is the top category, followed by beauty & personal care and hobbies & recreational goods.
Five key consumer trends this holiday season include:
• Webrooming dominates: while 64 per cent plan to explore purchases via mobile, only 38 per cent plan to buy on mobile, with 50 per cent making the final purchase in a physical store. Eighty-one per cent cite getting to see or try the product as the main reason.
• Brand communication is vital: 48 per cent discover new products from brands’ websites and apps, and 45 per cent from brand newsletters, compared to 35 per cent from TV and just 16 per cent from newspapers, magazines and billboards.
• Families first: 65 per cent of both men and women put their families first on the shopping list. Forty-two per cent of women and 37 per cent of men claim to drive the holiday shopping decisions, with women much more likely to bargain hunt than men (67 per cent vs 54 per cent).
• Price consciousness is key: 52 per cent of shoppers with reduced budgets and 38 per cent who maintained budgets stated the increased cost of living as the reason. Over 20 per cent of these shoppers were also concerned about increased prices.
• Night-time shopping: 44 per cent of holiday shoppers reported they tend to shop on mobile between 6pm and 10pm.