A recent article published in Internet Retailer describes a shift in consumer buying behavior, specifically when it comes to back-to-school shopping. Traditionally we think of back-to-school shopping as a July to August activity, but according to a survey of online shoppers by Bizrate Insights, 5 percent of shoppers began in April and 7 percent say they will begin before June. Clearly, retailers need to be ready to support shoppers across all channels by the end of June.
Promotions are equally as important as product availability and quality. Online shoppers are searching for deals. In a separate study from Connexity’s Hitwise, found that 1 in 300 online searches are for coupons, sales, discounts and deals.
Other findings from the back-to-school shopping study include:
- 69% will use mobile devices to research products.
- 59% say their children’s preferences influence purchase decisions.
- 42% of women vs. 27% of men will use mobile devices to look for coupons.
- 41% will use mobile devices to compare prices while in-store.
- 30% say brand loyalty affects what they buy.
- 25% say ratings and reviews factor into their buying choice.
With these shifts in consumer buying patterns and behavior, it’s critical to gain insights into how your customers and various customer segments react to promotions, how they shop, when and where they shop in order to meet their changing expectations. At JustEnough, we’re helping our clients prepare for and meet changing customer demand. Our Promotion Management solution allows you to better plan, execute and analyze how promotions are performing and our Customer Insights module allows retailers to understand their customers’ behaviors better by identifying trends, causal relationships and opportunities inside large amounts of customer data and act upon those insights accordingly for more customer-centric planning. Contact us to learn more.
Read the complete article here.