Why don’t retailers concentrate more on selling the Christmas spirit?
Photo: RetailWire
You’ve heard it before. Successful physical retailing isn’t just about finding the right products at the right prices in stores anymore, it’s also about experiences. Consumers, particularly those who are young, choose to shop in stores that provide experiences that delight them. These same consumers also spend more on purchasing experiences rather than an item off a store’s racks or shelves. Yes, experiences are said to drive traffic and sales, and a new report suggests that may be even more true during the Christmas selling season.
A survey of more than 2,500 consumers by Bazaarvoice looked at what factors go into consumer shopping decisions during the holidays, including when and where they shop and what they choose to buy. To probably no one’s surprise, “unique experiences” emerged as a key factor in the why behind all of the above.
While 59 percent of all shoppers choose high-profile days such as Thanksgiving, Black Friday, Cyber Monday or the last Saturday before Christmas to purchase gifts, special deals are not the only factor as to why consumers shop. Twenty-five percent point to family tradition as why they head out, while 35 percent said they do so “to get into the holiday spirit.”
As to why consumers would head out to a packed shopping center or store rather than stay home and order gifts from the comfort of their couch, 42 percent said they enjoy the “festive ambience” of the experience. Thirty-two percent consider activities such as visiting Santa Claus or ice skating as an important element of the holiday shopping experience.
The vast majority of gifts given out this year (90 percent) will be a physical product, but nearly one-third of shoppers will make purchases tied to experiences, including those that are related to crafts (47 percent), foodie experiences (45 percent) or travel (41 percent).
“Holiday shopping is unique; understanding the preferences, traditions and trends that shape consumer behavior and decision-making is critical to a successful holiday season,” said Sara Spivey, Chief Marketing Officer at Bazaarvoice. “Brands and retailers that produce enticing experiences to inspire and connect with shoppers will stand out above the rest.”