When it comes to what consumers want for the holidays, big data and social analytics can help retailers uncover “human truths to help brands make their marks in the world.”
That’s according to McCann Truth Central’s newest global consumer research study, “The Truth About Holiday Shopping,” which reveals a new era of predictive gift giving.
To help retailers learn more about what customers want, researchers conducted interviews with over 10,200 people in the US, UK, China, Brazil, Mexico, Chile, UAE, France, South Africa, Spain and India.
“Ultra-customized gift ideas and a friction-free shopping experience could turn out to be the biggest benefits of big data this holiday shopping season,” says Laura Simpson, Global Director, McCann Truth Central.
“With a quarter of the UK likening holiday shopping to ‘a military operation’ and Americans twice as likely to think it’s like ‘having a tooth pulled out’ brands have a real opportunity to show consumers the enormous benefits they can receive from sharing their personal data,” she says
And this year, consumers are more aware of the role technology can play during the holiday shopping season – and that signals “a new era of predictive gift-giving,” according to India Wooldridge, VP Deputy Director, McCann Truth Central. “It’s time to kiss bad presents goodbye.”
Here are the 12 truths of holiday shopping as brought to you by McCann Truth Central and big data analytics:
1. Santa’s Getting Smarter: 48% of youth around the world offer hints on Facebook about the presents they’d like to receive.
2. US, UK Shoppers Dislike Shopping: Almost a quarter of the UK respondents liken holiday shopping to “a military operation” and Americans are twice as likely than the global average to think it’s like “having a tooth pulled out.”
However, consumers in emerging markets typically compare holiday shopping to “winning the lottery” or “playing my favorite game.”
3. Elves Wanted: About one-third of consumers globally would outsource all of their holiday shopping if they could.
4. Retailers, Please Help: Almost half of young consumers in the US would be happier if their favorite stores selected their gifts instead of their partners.
5. Bricks-and-Mortars Still Rule: Most consumers around the world, think they’ll do two thirds of their shopping in physical stores. The rest will shop online, while only 5% will buy presents using their mobile devices.
6. Black Friday Tops Cyber Monday – Slightly: 51% of US consumers think they’ll spend more on Black Friday than on Cyber Monday.
7. Cyber “Mom”-day: Women 35 years old and older in the US say they’ll spend more online this year than in stores on Black Friday. In contrast, almost two thirds of young men say they’re more likely to spend more on Black Friday than on Cyber Monday.
8. Listen Up Brands: Two thirds of people think that brands could help make their holiday shopping easier.
9. But Don’t Start Too Early: 57% of consumers say brands that advertise too early during the holiday season put them off shopping.
10. People Spend Differently: Consumers in the US and Western Europe, still suffering the effects of the financial crisis, say they’ll spend significantly less this holiday season than they did last year. However, people in the emerging markets of Brazil, India, China, and Mexico overwhelmingly believe that they’ll spend more this year.
11. Show me the money: On average, US consumers expect to spend a total of $667 for gifts this holiday season.
12. US Consumers Are More “Waist” Conscious: Only 46% of Americans feel that the holiday season is a time to indulge versus 70% of consumers globally.
- To help you get the most out of your online store this holiday season, we invite you to watch our complimentary on-demand webcast: “Gain Insight into Your Brand’s Online Retail Shelf Space.” In our webcast, you’ll learn how Catalyst combines its proprietary eShelf Engine technology with Spotfire analytics and interactive visualizations to deliver deep insights to the competitive positioning of your products on online retail shelves.