The Wall Street Journal recently published an interesting article based on survey data from Accenture. The article highlighted some interesting trends around shoppers’ desire for promotions and discounts and their plans for cross-channel shopping.
The WSJ reported that overall consumers have remained frugal about their shopping habits since the recession and retailers are likely to cater to shoppers’ eyes for a good deal. Accenture found that 87% of consumers are typically persuaded by discounts of 20% or more to buy an item.
Retailers and brands also have a lot to gain from effective targeting of consumers, with 56% of shoppers in Accenture’s study saying they prefer to be targeted proactively by retailers and brands with discounts and deals. Only 20% said they prefer to seek out deals themselves. More than half of U.S. consumers are also willing to share their personal information with retailers in exchange for personalized offers, up from 33% a year earlier. Advertisers are increasingly looking for more information about potential customers in order to better target audiences that might be interested in their products and ultimately improve the effectiveness of their ad dollars. Despite concerns about cybersecurity and spam mail, Accenture’s research suggests that customers are still willing to share their information with brands they trust if they get something worthwhile in return.
Just over half of respondents said they’d prefer to shop online rather than in-store when a retailer has both options. And 69 percent of U.S. shoppers are likely to participate in “webrooming” or shopping for products online before going to a physical store to buy their product, while 65% indicated they’re likely to participate in “showrooming” to visit a store to see the product in person before buying it online.
You can read the complete article here.
Please contact us, if you would like to learn more about our omni-channel planning suite of solutions and how our Promotion Management solution can help you to better plan, target and execute more effective promotions.