80% of Consumers More Likely to Shop with Brands that Show they Understand Them
Redpoint Global, a leading software provider that helps brands deliver revenue-generating and personalized customer experiences, today announced new research revealing consumer opinions about the upcoming holiday season. Conducted by Dynata, the survey of more than 1,000 U.S. consumers finds that the overwhelming majority of consumers (80 percent) are more likely to shop with brands that show they understand their needs by sending relevant, personalized offers this holiday season. Some 78 percent of consumers also find it frustrating when a retailer's communications and marketing messages are inconsistent depending on the channel they visit (in-store, online, social, call center, app).
This holiday season, shoppers will continue to shop heavily online, but also express interest in heading back in-store. Only 8 percent expect to shop solely online and 16 percent plan to shop exclusively in-store - with the remaining consumers planning to shop both online and in-store to varying degrees. Online research prior to in-store purchasing is a critical component of the sales process as well, with 29 percent of individuals primarily conducting research online prior to purchases in-store. Buying online and picking up in-store is also a trend that remains very important this year, with 60 percent of consumers planning to utilize it in 2021. However, in 2022 and beyond, only 15 percent of consumers indicate that will be a primary part of their shopping experience.
"As consumers head increasingly back in-store, maitaining clear and consistent communication both on and offline will be key. To maintain consumer interest and minimize friction, retailers should be prepared with personalized offers and strong data transparency across channels," said John Nash, Chief Marketing and Strategy Officer, Redpoint Global. "The more retailers can use relevant data to customize the experience consistently at all stages, the more successful they will be in driving retail sales this holiday season."
Inflation and supply chain issues are also top of mind, with 70 percent of consumers worried about global supply chain challenges and 77 percent concerned about product shortages. However, most consumers are preparing for these issues by shopping early and budgeting for increases. As of September 1st, 26 percent of consumers have already begun holiday shopping. And while two-thirds of consumers expect to pay more for gifts this holiday season due to inflation, 37 percent have adjusted budgets to deal with said increases.
Transparency is a key solution for many of the issues facing consumers this holiday season. Currently, consumers' top frustrations lie in product shortages, leaving it to retailers to be transparent about supply and product issues. Not to mention, the overwhelming majority of consumers, 85 percent, are more likely to shop at retailers that are transparent with how they are collecting and using their personal data this holiday season. As such, retailers must be communicative about where and when they are utilizing consumer information throughout the season.
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