By Victoria Royce
Most consumers are on the hunt for the best holiday gifts at the best prices and will do just about anything to find them.
Accenture recently did a survey to analyze how consumers in the US will be spending this holiday season. The survey found that 44% of people intend on increasing their holiday spending this year however, most shoppers plan on searching for the best deals before making a purchase. A shocking 47% of people think that Thanksgiving day/night is an appropriate time to begin their shopping. In the days following 65% of people plan on particpating in Black Friday and 57% on Cyber Monday. While some consumers are crazy enough to experience the hordes of people on these days to get great deals most companies have promotions all season long to keep their consumers engaged.
This survey proved what many brands have already encountered in the last year, frugality is very important to consumers and they want to believe that they are getting the best deal. Many brands have tough competition from Amazon because of their low prices and fast shipping. Brands will continue to face this competition as 84% of consumers said they would check amazon.com before looking or buying elsewhere. In addition, 67% of people said they would shop places other than their usual stores and websites if they could get better deals there. Brands will have to pull out all the stops this year in order to keep their customers loyal and shopping with them.
While only time will tell which stores will have the best deals and which ones will make the most profit, be safe and happy this holiday season.