Shoppers prioritise price ahead of Black Friday & Christmas
According to new research the leading provider of product reviews and user-generated content (UGC), cost (35%) and value (34%) will be the most important factors for British consumers making a holiday purchase this year, with 44% admitting that their planned holiday spend has been impacted by the COVID-19 pandemic.
The Bazaarvoice research, conducted among over 5000 global consumers, found that half of global (49%) shoppers are shopping online now more than they were pre-pandemic, with this increasing to 58% in the UK. With such an abundance of choice available online, over a third (36%) of UK consumers will decide between two products based on price, followed by product reviews (31%).
Brits are generally much more detail orientated compared to their international counterparts when it comes to product recommendations and feedback, and find the detailed nature of a review more important than a standalone product rating (7%). In contrast, US (17%) and French (17%) consumers place a greater importance on product ratings.
Amazon will continue be a vital resource for consumers this winter season, with almost two-thirds (57%) of Brits using it for gift inspiration and three quarters (74%) planning to buy from the marketplace.
It does, however, have competition amongst younger consumers, with Instagram (46%) just as influential for gift ideas and inspiration for Gen Z (18-24 year olds). Overall, Facebook (21%) remains the most influential social media platform when it comes to gift buying, followed by Instagram (19%) and Pinterest (11%).
Suzin Wold, SVP Marketing, Bazaarvoice, comments, “Amazon has become even more prominent during the pandemic as more have people turned to online shopping. Its scale gives it an almost unbeatable advantage, but where brands and retailers can win is by delivering a fantastic consumer experience and different value. Younger generations identify with brands more personally and emotionally than older generations, and use social media at every stage of their purchase life cycle. Listening and engaging with consumers across social platforms in the early stages of product discovery through storytelling, visuals and authentic influencers will create engagement. Social media should be used to create a more unique shopping experience for brands and retailers to set themselves apart from Amazon.”