With Only 26 Shopping Days Between Thanksgiving and Christmas, brands must maximize online ad campaigns, increase retail revenue and promote consumer engagement.
Reston, VA, Nov. 22, 2013 — (Business Wire) — Resonate, the only company that empowers marketers to act on why people make decisions, today revealed key motivations and values of frequent online shoppers that brands can use to avoid coming up short in this year’s abbreviated holiday shopping season. Online shoppers are more critical than ever this year, with only 26 days between Thanksgiving and Christmas, six fewer than last year and the shortest holiday shopping period in more than a decade.
Industry experts estimate that the shortened shopping period could cost retailers up to $1.5 billion in potential sales, placing extreme pressure on brands to step up marketing efforts. Resonate’s survey of 54,000 people who shop online, shows that Cyber Monday shoppers are more likely than infrequent online shoppers to express the following beliefs as being important when deciding what products they buy: 62% more likely to value pride, 77% more likely to value self-image, 47% more likely to value peace of mind and 37% more likely to value sense of accomplishment.
“With Thanksgiving the latest it’s been since 2002, the hustle to fulfill that gift list has now become an even bigger stressor for shoppers and, in turn, retailers who worry that customers will spend less due to the shortened period,” said Michael Horn, VP, Research, Resonate. “Successfully attracting Cyber Monday and frequent online shoppers will depend on appealing to their self-centric reasons, like peace of mind and sense of accomplishment.”
Further illustrating frequent online shoppers’ motivations, Resonate found that 71% of them research products through multiple resources, 65% recommend or criticize products and/or companies, and 60% know of and/or buy products before their families or friends. In addition, 29% of recurrent online shoppers will contact a company about a product or social issue. All of these numbers are significantly less for infrequent online shoppers.
In terms of brand characteristics, Cyber Monday/frequent online shoppers, when compared to infrequent online shoppers, are 57% more likely to seek products that are innovative and unique; 34% more likely to want products that are fun/popular/exciting; and 27% more likely to buy sustainable products.
The hobbies and interests of Cyber Monday/repeat online shoppers also differ significantly from those who shop online less. For example: 40% cite fashion as an interest, almost double that of less frequent online shoppers; twice as many listed hiking as a hobby at 24%; and 32% love home improvement, over two-thirds more than their counterparts.
Resonate is the only company to empower brand, political and cause marketers to identify and engage with audiences based on the reasons behind people’s actions. Combining the latest big data technologies with proven research and analytic techniques, Resonate powers motivations-based targeting and analytics across all digital media channels. The ability to deliver advertising based on an individual’s social and personal values and product purchase preferences, goes beyond simple demographics to achieve greater engagement, campaign results and customer insight. For more information visit http://www.resonateinsights.com.