All in all, another not-so-normal holiday season is upon us. Here are our top three consumer insights and opportunities for retailers to ensure that no inventory runs out this season.
Consumers are in their place. Shoppers are willing to show appreciation for the people they love: 71% say shopping for others right now puts them in a good mood. These feelings and emotions also trigger unanticipated impulse buying, which creates an opportunity for many retailers to promote a variety of products by positioning them as an indulgence aligned with the overall seasonal sentiment.
Here are the top three wellness activities for consumers this season:
- 66% love to spoil their close friends and family while on vacation
- 53% say they like to treat themselves to beautiful things during the holidays
- 50% are more likely to make impulse purchases during the holidays
Concerns evolve as shoppers head into the holidays. While finances and staying on a budget are still among the top three concerns for consumers, stockouts have now become the number one concern. Most want their items to be on time and are unwilling to change a lot of money on shipping costs (free shipping is always a bargaining factor), however, most expect delays in shipping. shipping on their online orders.
A Q4 survey according to ZMG reports, more than half of consumers anticipate:
- Delivery / shipping times (55%)
- Out of stock items (54%)
- Product shortages (53%)
- Longer shipping / waiting times (50%)
- More expensive products (42%)
One way to alleviate buyer frustration is to offer smart, pulsed promotions on inventory that is in stock and retailers want to move into December. On average, consumers surveyed said they think a 20-35% discount is ideal, depending on whether they are buying a large or low-cost item.
Consumers will find it really pays to procrastinate. With so many brands facing inventory shortages and staffing and shipping issues this year, people will be struggling to get gifts on time if they don’t shop by December. However, we know that people will inevitably procrastinate. In fact, 1 in 5 shoppers surveyed said they did not plan to start holiday shopping until Black Friday or later.
ZMG Shopping brands, including RetailMeNot and Offers.com, want to make sure shoppers facing delivery delays and out-of-stock items find their way back to their happiness and don’t miss out on freebies this season. Retailers and brands can partner with RetailMeNot and other brands to highlight all the last minute gift opportunities that exist for holiday shopping latecomers during the It Pay To Procrastinate event.
Starting on “Panic Saturday,” the last Saturday before the Christmas holidays, when shoppers typically rush to stores to buy last-minute gifts, RetailMeNot, Offers.com and BlackFriday.com will feature brands with in-store and buy online, pick up in store (BOPIS) offers and promotions on digital gifts.
Featured items including gift cards, memberships, travel and experiences will be sure to arrive on time, making it easy for shoppers to save on last minute purchases.
For more information on partnering with Ziff Media Group and its portfolio of brands to find last-minute earning opportunities, visit ziffmedia.com.