In the lead-up to a key retail period —including Black Friday, Cyber Monday and Christmas — LoopMe, a leading outcomes-based platform, has revealed findings of a study looking at consumer sentiment when it comes to retail purchases.
The report covered consumer attitudes towards online shopping versus in-store, and the aspects they value most when Christmas shopping.
The research highlighted key areas where brand retailers can effectively reach consumers during the holiday shopping period.
- Consumers prefer spending more with retail brands in-store than online: 70% of UK consumers spend more in physical stores than with online retail brand
- Consumers are more likely to shop online on Black Friday/Cyber Monday: 46% of consumers intend to make or are considering making a purchase on Black Friday/Cyber Monday
- Consumer confidence in spending more is on the rise: 47% of consumers are confident that they will spend more with retail brands in the next 6 months than in the last 6 months
- Cheaper prices matter most to consumers when shopping online: 34% of consumers value cheaper prices as most important to them when shopping online
- Avoiding crowds is what matters most to Christmas shoppers: 32% of consumers will value avoiding crowds the most when Christmas shopping
“As we move post-COVID and into the holiday shopping period, retailers need to prioritise measurement solutions that allow them to track and optimise real-time performance if they are to align with fast-moving shopper habits,” said Sarah Rew, Senior Director, Global Marketing.
“Reliance on proxy metrics, such as click through rates and impressions, provides an imprecise understanding of return on investment, and lacks the full performance picture needed to adjust to unfolding retail trends.”
Rew added: “to bolster immediate campaign results, particularly for holiday shopping when competition for attention is high, retailers must be able to review the probable success of each ad before delivery.
“Tangible metrics drawing on data from first-party interactions, purchases and audience intelligence research, afford swift responses to evolving consumer behaviour, ensuring ads are persistently matched to shopper needs and allowing retailers to track campaigns against outcome-focused KPIs.”
LoopMe surveyed 3,130 UK consumers from 2-6 September and a further 1,530 UK consumers from 28-30 September 2021.