Shoppers who spend earlier conduct more research
As the major holiday shopping season approaches, many consumers are hitting retail stores early to find the best deals available. As more customers pour in through their doors, merchants will need to scale up their store operations and run powerful retail software that creates a convenient shopping experience.
One key fact retailers should include in their plans for November and December is that their customers will be more informed than ever. According to SGK Inc's 2013 Early Holiday Shopper Survey, more than half of pre-October holiday buyers used their mobile devices for product research, and many ran price comparisons before purchasing an item. Rather than avoiding the crowds, many early shoppers will also be in stores on Black Friday, and they will have consulted inserts and circulars, websites, emails and their friends and family to find the best deal before stepping into a shop. Many will also request price matching, the survey found.
"By starting early, spreading purchases over a wider time frame, using layaway and actively researching, shoppers are more likely to find the right offers for them," Jim Lucas, executive vice president, global insights at SGK, according to the report.
Retailers should also take note that customers who research items on their mobile devices are likely to spend more than other consumers. Those merchants able to adapt to better informed shoppers could benefit from increased sales in the next couple of months.