Trending Now: Electronics StoresAre early adopters also early shoppers?
Is researching holiday purchases and hitting stores earlier than ever before, with 29% beginning their research even before Halloween.
Tech gifts and consumer electronics top gift wish lists and the most gifted category, with 65% of Americans planning to buy tech gifts this holiday season. With that much interest and the steady holiday shopping season creep, are electronics flying off the shelves now?
Surprisingly, they’re not.
A whopping 71% of consumer electronics shoppers plan to wait until November or December to start their holiday shopping, and this is a +10% increase from 2014. Fewer consumers anticipate shopping in October or earlier (just 24% versus 31% in 2014), indicating an increasing desire to wait.
Why do they wait?
Consumers have been trained to believe the best deals for consumer electronics are on or after Black Friday. This creates a significant challenge for electronics stores: they need to get in front of price-sensitive consumers during the most congested time of the year for retail.
To win this holiday season, it’s important for electronics stores to understand the consumer’s path to purchase. First, they research online. According to a recent PricewaterhouseCoopers survey, 71% of consumer electronics shoppers research their purchases primarily online.
They also use multiple sources to compare prices. Once they’ve determined their wish list, they compare prices across multiple sources, both online and off. They lean heavily on advertising for information, with 29% of surveyed respondents looking at print ads for price comparisons (compared to 25% who use TV/radio and only 11% using social media).
We can help!
Don’t miss out on a critical window of opportunity to convert holiday shoppers. Contact us or call 607.798.1325 for your free custom consultation today
“Consumer Sentiment Toward Tech Spending Shows Seasonal Declines Before Holiday Shopping Season Spike, According to CEA Indexes” Consumer Electronics Association (CEA) 27 Oct 2015
2015 Google Holiday Survey
“CEA: More Americans Plan to Purchase Tech Amid Record-Setting Holiday Season” Consumer Electronics Association (CEA) 8 Oct 2015
“Total Retail V Survey: United States” PricewaterhouseCoopers (PwC) 9 Feb 2015
“Where It’s At: A Connected Shopper Study” Blackhawk Engagement Solutions 14 Jul 2015
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