With Halloween just a few days way, online shoppers are already gearing up for their biggest sales of the holiday season. PunchTab, the engagement and insights platform, released its insight report on the 2014 holiday season. The survey looks at how Gen X, Baby Boomers, Millennials differ this holiday season and how top retailers are preparing for the wave.
When it comes to preparing for the holiday rush, Robyn Hannah, VP of PR and Communications at PunchTab, says that while stores like Target and WalMart have pretty robust online options, it’s the specialty shops that need to worry.
“This is a critical time for these businesses because consumers are looking for options and they can either win – or lose – considerably,” said Hannah.
Though some findings from the report are not too surprising – 70% of older generations are not using any social media channels to influence their shopping and 80% of shoppers say coupons and discounts are important to their holiday shopping plans. However, interestingly enough, the insights show that 77% of consumers will spend more this year, but 58% of consumers will purchase less from the same stores they bought from last year. Things like loyalty programs and racking up membership points are something that speaks to consumers.
“Loyalty programs have become more attractive to consumers because brands have become smarter about them,” explains Hannah. “Those in the know no longer spam consumers with whatever random offer every other Friday, or whenever they used to send email offers like clockwork, that were unceremoniously ignored. Now, they carefully gather key bits of info from consumers with every interaction and use that to inform personalized offers that consumers find useful and relevant to their lives. Consumers, in turn, participate more. And the cycle continues.”
The more consumers participate, Hannah assures, the more the retailer understands their needs and the more relevant the offers they receive.
“It’s really beginning to look like a relationship with two-way communication. Everyone wins.”
The complete report can be downloaded here.