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Black Friday: Millennials will spend more but 35+ will spend the most

Spend more22 Days Until Black Friday!

Are you ready?

CFI Group and eBay Enterprise just released a new report about this frantic weekend called “Holiday Shopping 2014: Shutting Down the Showroom Effect”.

As an online seller, you’re probably not all that concerned about showrooming but there are a few nuggets in the report for you, too.

First up is the actual Black Friday weekend. 30% of those surveyed said they expect to spend more than 50% of their gift giving budget between November 28 and December 1. This is up 27% over year. That means more retailers will pull in more revenue earlier in the season. On the downside, CFI says consumers will be spending less overall, that’s why they’re counting so heavily on Black Friday deals.

39 percent of Tweeters called Twitter their new holiday shopping list

Twitter Holiday 1If you’re a Scrooge about Christmas, stay away from Twitter because people who Tweet are the happiest (and spend-thriftiest) of holiday shoppers.

Back in August, DB5 surveyed 2,100 shoppers on behalf of Twitter and more than half were regular Twitter users. Taking into consideration the fact that Twitter published the results. . . .the outcome was quite interesting.

34% of those surveyed said they had already begun thinking about holiday shopping. A huge 81% of the Twitter regulars said they love holiday shopping. (To which the surveyor replied, ‘if you love it so much you should marry it’. ) Only 56% of the non-Twitter regulars said they were looking forward to holiday shopping which brings us to the first point:

Twitter users love shopping for gifts.

A Day in the Life of the Mobile Millennial Mom

Retro happy momAre we there yet? Almost!

We’re almost to that place where moms don’t even use computers anymore. They do all of their shopping and run the entire household from their smartphones with an assist from a tablet. It’s a magical place where everything gets done faster and easier leaving moms with more time to relax.

Ansible and Millennial Media just released a new report that examines the relationship between Millennial moms and their mobile devices.

As a group, these women spend 76% of their digital time on mobile devices and 50% of their mobile time is spent on shopping related activities. Did I mention that there are “13 million Millennial Mom consumers in the U.S. with a combined purchasing power estimated at $170 billion in annual spending”?

Holiday 2014: Etailers get real about holiday shipping

Coal in the stockingIt happens every year; online retailers make big promises, consumers buy into it and on December 24th the social media channels are overflowing with ho-ho-holiday complaints.

Most retailers mean well but things happen. Things like snowstorms and last minutes rushes, delivery trucks that don’t make it to the warehouse and sick employees that leave you short-handed.

We could say that customers should know better. Everyone should finish their holiday shopping two weeks before the actual day but that’s not how its done. So this year, more etailers are working on a plan to make this holiday merrier.

Shop.org conducted a survey on the subject and found that 8 out of 10 retailers will cut off standard shipping for Christmas delivery a week in advance. This is slightly higher than those who did that in 2013, so that should help decrease customer expectations – a little.

68 percent of consumers say coupons promote loyalty

If you want to keep the same customers coming back over and over again, send them a coupon and then send them another one and another.

In “The State of Digital Coupons: How Digital Coupons Are Adapting to Mobile and Omnichannel by Forrester Consulting on behalf of RetailMeNot, we learn that coupons are still a prime motivator for both online and offline shoppers. 59% of consumers said coupons were most likely to influence their purchasing decisions. Luckily, there’s an upside to selling things for less money – customer loyalty.

Retail Me Not Coupon Loyalty
68% of consumers say coupons build brand awareness and lead to customer loyalty. Look at the chart above. The lighter the blue, the more positive the response. A large number of respondents said they were likely to tell friends about online coupons and promotion codes. 29% felt strongly that coupons led to brand loyalty and another 62% agreed to some extent.

Study shows one third of Google ad conversions happen on mobile

 

When discussing mobile and commerce, we usually think of the phone as a tool showroomers use to find the best price on whatever it is they’re shopping for. But a new study from Marin Software shows that consumers are slowly but surely turning to their mobile devices to complete the deal as well.

 

Marin 2014 Ad Conversions

Desktop is still the clear choice across the board but those other two bars are closing in fast. Here are a few more facts from Q3 2014:

  • Mobile devices comprised 31% of paid search impressions and 38% of search ad clicks on Google.
  • Mobile accounted for 30% of ad conversions with mobile conversions increasing 2.4% quarter-over-quarter and nearly 11% year-over-year.

Facebook:

41 percent of shoppers plan to spend more online this holiday season

PWC holiday onlineThey say there are two sides to every story and when we’re trying to predict what consumers will do it’s oh, so very true.

Last week, the National Retail Federation predicted a 4.1% increase in holiday buying this year. I’d call that cautiously optimistic. This week, PwC and Strategy& released their holiday predictions and it’s not nearly as rosy.

According to the “2014 Holiday Outlook: Top trends, consumer behaviors and implications for retailers” report, average household spend will drop from $735 in 2013 to $684 in 2014.

The problem is that darned, old economy. 72% believe that the economy is the same or worse than it was a year ago so conversely, they plan to spend the same or less than last year. That doesn’t mean they plan to buy fewer items, it just means they need to find better deals on the items they need.