Survey: Good deals beat novelty in holiday shopping
That’s according to BDO’s Consumer Beat Survey, which noted that nothing beats a bargain when it comes to holiday shopping. Price is the most influential factor on all purchases (ranking from a low of 47% on beauty products to a high of 64% on jewelry.
“Our findings show that while experience is important, it doesn’t trump a good bargain,” said Natalie Kotlyar, partner and leader of BDO’s Retail & Consumer Products practice. “Flashy perks and overnight delivery won’t necessarily mean consumers are willing to break the bank. They purchase with intention.”
The other factors influencing purchases include brand name, product reviews and efficient deliveries processes, with the factors varying by product type. After price, brand name, for example, was the most important decision-maker in beauty (26%), followed by electronics (25%). It was least important in jewelry (15%).
Retailers who can’t compete on price, should compete on service, BDO recommended. No sales or discounts and bad customer service both led the list of what turns off shoppers.
“A good deal and first-rate customer service remain the best perks for holiday shoppers,” the report stated. “And while the perception may be that consumers have no patience for anything but on-demand shopping experiences, almost no consumers say they will write off a retailer just because they don’t have ample delivery options or an online presence.”
In other findings:
• In-store at big-box retailers lead (31%) the list of go-to holiday shopping destinations, followed by Amazon (29%), other online retailers (15%) and in-store at department stores (15%).
•Nearly one-in-five consumers shop online specifically to avoid paying sales taxes.
• If all e-tailers began collecting sales, 46% of online shoppers would change their habits.
Credit to: https://www.chainstoreage.com/news/survey-good-deals-beat-novelty-in-holiday-shopping/