Editor’s note: We’re excited to be co-hosting another great webinar with The Relevancy Group, featuring Zeta Global’s own SVP of Onboarding Delivery Tim O’Leary. In anticipation of the event, TRG is sharing their insights on consumer trends and what they mean for marketers. Tim’s perspective and expertise on these trends are also included following this post.
By David Daniels, CEO and Founder—The Relevancy Group
To better understand purchasing motivations, attitudes and behaviors, The Relevancy Group and Zeta Global are conducting a survey of 1,000 consumers in the U.S. We will be sharing these results and last-minute holiday recommendations on Wednesday 11/14 at 1 PM. EST. Register for the webinar and get a link to a recording of the webinar that will be filled with data and recommendations.
Looking Back on 2017
In 2017 just 15 percent of consumers stated that they planned to spend more on holiday spending than they did in 2016 while 64 percent stated about the same as year over year. While the economy in 2018 is good, Chinese Import tariffs are raising prices at big box retailers, i.e. Walmart, that rely on offshore goods. This likely won’t impact overall spending, but the consumer’s dollar may not go as far in 2018 as it did last year. In 2017 consumers under the age of 39 were more likely to spend more on holiday purchases a trend we expect that we will see again in 2018.
Consumers continue to shift their holiday spend online. Last year 56 percent of consumers stated they would do half or more of their holiday shopping online. Overall ten percent of consumers shop exclusively online, a trend we expect will grow to 12 to 14 percent in 2018. Last year consumers aged 27-53 are most likely to do the majority of their holiday shopping online.
Year-over-Year Consumers are consistent with their holiday shopping plan, with 29 percent already shopping for the holiday season. Eighteen percent start after Halloween and the majority start after Thanksgiving. Last year 20 percent stated they have no set plan. Half of women start their holiday shopping before Thanksgiving, a trend that we expect to continue to see this year.
Holiday self-gifting was up year over year from 2016 to 2017 increasing from $243 to $264. We will likely see an increase again in 2018, but we don’t expect it to be as large in years past. This is likely because of the higher cost of products and the general impact of the dollar.
Next time we will look back on what motivates consumers to purchase and what opportunities exist for marketers this 2018 holiday season.
Join The Relevancy Group and Zeta Global on November 14, at 1 PM EST for the 2018 consumer holiday survey results.
Until next time,
“Overall employment, wages, and consumer confidence are shifting up—trends correlated with spending on luxury goods, gifts, and non-essentials. That’s good news for most businesses who rely on a big holiday season, but some industries will be more impacted than others.
Smart brands have already started their holiday marketing, even if only in subtle ways to start getting consumers’ interest and earning their loyalty. Real-time listening and engagement now might make the difference in a split-second buying decision on Black Friday or a last-minute holiday gift.
We’ll be explaining the most recent, up-to-date consumption trends and how to best reach customers in the webinar—don’t miss it!”
Tim O’Leary is SVP of Onboarding Delivery at Zeta Global. He has over 30 years of leadership, management, and business strategy experience helping technology companies grow. Tim specializes in overseeing large-scale development initiatives and has found success serving clients in travel, retail, finance, entertainment and more. Connect with him on LinkedIn.