Consumer behaviour during the holiday sales period is set to be different this year, according to new research conducted by global advertising technology leader, The Trade Desk, with one-third (32%) of Australians set to spend more in the Q4 sales period than last year.
However, ‘conscious consumerism’ is set to take over, as Australians look for purchases based on value by trawling retailers online and in-store, especially around Black Friday and Cyber Monday, which are likely to eclipse the Boxing Day sales once more.
More than half (60%) of Australians will start planning for holiday spending months in advance, and half (50%) intend to reduce spending on everyday items to purchase gifts. Three in four (72%) say it’s important to save up for the sales period; additionally, 60% will be setting a budget and sticking to it.
In addition, the phygital (physical plus digital) shopping experience is set to intensify during the upcoming holiday season. When compared to the rest of the year, almost one third (28%) of consumers intend to increase their in-store purchases, while nearly half (46%) plan to make more online purchases during this holiday season.
The Trade Desk vice president for ANZ, James Bayes said, “This upcoming holiday season is arguably one of the most pivotal in recent Australian retail history. With price-conscious consumers preparing to spread their spending over an extended shopping season, it has become critical for marketers to embrace innovation.
“It’s a gamble for advertisers to wait until the end of the season to work out whether their campaigns have worked or not. Those advertisers that are going to win this year are the ones who can tweak campaigns on the fly, making sure budgets are going towards the right channels that have the most impact possible.”