The consumer journey at the end of the year starts with research. As the pandemic continues, your brand must be trusted more than ever.
The Covid-19 effect that changed our daily habits in 2020 could have the biggest impact in the coming holiday season. The question most companies face is: what can we expect at the end of the short season in 2020?
Here are five elements we generate in Microsoft Advertising to help you plan your vacation:
End-of-year retail sales will continue, even as consumers say they are declining
What people say and what they do sometimes disagree. This is true of a variety of research in behavioral economics. One thing to note is the myriad of polls suggesting people will refuse, which is not reflected in actual actions. People still shop and party during economic crises, often more than they expect. While retail spending may decline during this holiday season, it is unlikely to drop as dramatically as consumers expect or expect.
Is there any historical data to support this? Yes, we have seen this behavior in previous analyzes during the 2008 financial crisis. Consumers reported spending 29% 29% less on holidays, although retail sales are down 4.7% from last year. 2007, last year.
Consumer preference for online shopping will significantly increase e-commerce sales
The shift to online shopping during the pandemic will push e-commerce growth beyond the expected end of 2019. As retail sales in the US are declining, online sales will increase significantly as a result. Categories affected by COVID-19, such as clothing, are expected to continue to grow in e-commerce in 2020.
Consumers want to buy contactless
The demand for contactless shopping has increased as consumers put their safety above the shopping experience. There are a few different categories in which physical senses have always been important when shopping. However, it is the convenience of contactless shopping that analysts say will lead to lasting changes in consumer behavior during the holiday season. According to eMarketer, 52% of the US population will be using so-called “Buy Online, Receive In-Store” options or so-called BOPIS options by 2020, increasing BOPIS sales by 60% year over year. Consumers are also changing their shipping expectations during the holiday season – 81% expect expedited shipping options. 44% of US consumers are expected to delay purchases during the holiday season due to fast delivery options and the expectation that purchases will be made before the holiday season.
Plan your campaign based on holiday shopping trends
Remember: consumers start their research. In fact, 57% of consumers search without regard to a brand, and 91% of Microsoft Search Network searches go unnoticed during the holiday season of 2019. Contact information for the customer’s journey. In the weeks leading up to Cyber Week, there are sales and promotions for Black Friday and Cyber Monday, with retailers regularly worrying about Thanksgiving products. And with good reason: Cyberweek will pull in most of its sales and consumer spending during the holiday season. There are still opportunities in the research markets. Because all branches are online again and the supply/storage chain is being renewed, the demand for products in many branches is greater than the supply. If a company’s competitors don’t have stock to sell, they won’t bid because they can’t fulfill orders and don’t want to waste money on advertising before the stock improves. This is an excellent opportunity to lower the cost per click for many search costs as a whole and in specific niche markets in specific industries.
People want to buy from brands they trust
Consumers want brands they can rely on. This means that you are transparent, use your platform to express your views on important issues, and act in accordance with the values of your customers. Brands that create a value-based emotional bond with the consumer create customer trust and loyalty. This is the key to grabbing and keeping your attention through research that emphasizes your values.