Summer seems to have come and gone without so much as a whimper, and the nights are drawing in once more. The well publicised credit crunch is set to have a profound effect upon many Christmas shoppers in the coming months. Very few firms are immune to the trouble; just ask the staff from worldwide banking giant Lehman Brothers, or one of the 90,000 tourists stranded by XL Airways.
However, recent research has shown that shoppers are set to use the Internet to their full advantage in the coming months to maximise their already stretched budgets. IMRG have conducted a survey regarding consumer habits for the coming months and how the economic slowdown is likely to affect them.
68% of shoppers are more likely to shop online this year compared with last, while 77% of consumers are likely to carry out at least half their shopping online, up from 56% last year. The primary reason for these figures are the competitive prices available online, and the research capabilities that the web offers to consumers while they hunt for their products. Consumers are more eager than ever to find a great deal and are more than prepared to search high and low for them. The key to a successful Christmas season this year is ensure your offers are well advertised, and be certain that your prices are competitive.
86% of consumers surveyed stated that they will use the internet to research products before purchasing in store, while 59% will look in store before purchasing online. Therefore the web can’t just be used to generate sales, but to ensure that customers are able to gather information about your products and are aware of your brand.
It has long been said that Christmas begins too early, but we may have no choice but to get into the festive spirit earlier this year. 58% of consumers claimed that they would be starting their Christmas shopping earlier this year in order to spread the costs associated with this time of year. Don’t miss out on these early birds and be ready with your Christmas advertising campaigns earlier than ever this year.
79% of shoppers stated that they are satisfied with their online shopping experience, but this does not mean that e-retailers can become complacent within such a fiercely competitive arena. Robert Baker, Chief Operating Officer at Maximiles predicts a potentially bumper Christmas for online retailers and therefore those who perform well in the coming months are likely to experience increased customer loyalty in the long run.
With a record number of consumers set to shop online in the coming months, those who have a strong advertising presence are set to reap rich rewards if they are able to handle the unprecedented levels of e-commerce transactions.