When it comes to holiday shopping, consumers are hungry for deals, according to the latest research from RetailMeNot. The site has just released its latest report, “2017 Holiday Trends and Guide,” which sheds insight into emerging shopping behaviors and transitions in the retail landscape for the upcoming, popular buying season.
To devise the report, RetailMeNot reviewed internal data from more than 500,000 offers for 50,000 retailers that also incorporated engagement insights from millions of consumers. The promotion-centric company also launched two surveys: one polled more than 1,000 U.S. consumers, and the other questioned 201 retail marketing decision-makers.
The survey found that consumers research and purchase products not only according to promotions, but also the time of year. According to the report, shoppers research and plan purchases of clothing, home and garden items, and designer clothing before Thanksgiving. Consumers sought deals for computers and electronics, department stores, toys and kid-geared products, and accessories during Cyber Week into December. Last-minute purchases were mostly aimed at health and beauty products, department stores, accessories and books.
What’s more, the shopping will not stop after the holidays — instead consumers turn to self-care. The research found that post-holiday individuals continued to research personal finance deals, health and beauty items, and food or entertainment.
According to the report, the highest performing deals and promotions lasted almost five days. “A variety of offer types keep shoppers engaged all season long,” the report said. “Good offers extend expedited free shipping and discounted gift cards. Even better versions offer money or a percentage off a single item or cash-back offer. The best deals give money or a percentage off storewide.”
As the wellness craze continues to spread, the research found that consumers are mainly searching for health and beauty deals in addition to home and garden, and department store promotions. In 2016, the most popular segments were clothing, food and entertainment, and home and garden.
Good news for retailers: The report predicted that on average U.S. consumers will spend about $743 — up from $505 last year — during the Black Friday weekend.
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