Holiday Shopping 2018: Nothing Beats a Bargain
Holiday shopping season is among us and, this year, consumers have one thing on their minds: a good deal.
The U.S. economy is strong, marked by high consumer confidence, rising wages and historically low levels of unemployment. At the same time, the pressure to innovate has retailers transforming their business models to stay competitive and attract attention from a new form of buyer. While this has led retailers to adapt the way they sell, their strategies will ultimately fall flat if they lose sight of the basics. Despite all the noise around innovation and flash, consumers are still most motivated by getting the best bang for their buck.
The hunt for deals impacts nearly all of holiday shoppers’ decisions, from the platform they buy on, to their brand loyalties. For instance, our latest Consumer Beat Survey reveals that almost 20 percent shop online specifically to avoid paying sales taxes and 46 percent of online shoppers say they would change their habits if all e-tailers began collecting. Meanwhile, no sales or discounts and bad customer service are the most likely factors to turn customers away during their holiday shopping.
Heading into peak shopping season, retailers must make sure their investment decisions are aligned with what their customers want most. Check out our full Consumer Beat Survey here for insights to help retailers as they vie for their share of holiday cheer.
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