Sept 16, 2022
Consumers Plan More Holiday Shopping
Most consumers across North America and the UK (80 per cent) plan to shop the same or more during the upcoming holiday season compared with past years, says a survey by Coveo, an AI-powered relevance platform. Additionally, nearly one in two shoppers (45 per cent) will start their shopping earlier than usual to find deals and discounts given the rising cost and availability of goods. “As economic conditions continue to fluctuate, we believe retailers must keep up with shopper behaviour trends and test assumptions to keep the customer experiences relevant at all times and the focus on profitability and performance will be even more necessitated,” says Brian McGlynn, general manager of commerce at Coveo. The survey says that while 54 per cent of consumers are likely to look at a product online and buy it in-store, an almost identical number (53 per cent) are likely to look at a product in-store and buy it online. Retailers also need to be aware that shoppers (42 per cent) will leave a site if shipping options are limited or they don’t have a ‘buy online pick-up in store’(BOPIS) option. On top of that, 35 per cent of consumer say they are turned off by restrictive return policies. At the same time, motivating factors go beyond discounts with 67 per cent of consumers interested in product recommendations, tailored offers, discounts, and promotions.
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