Acxiom Study Shows Retailers How to Capitalize on Last-Minute Holiday Shoppers
03 November 2010 - 4:20PM
Business Wire
Retailers can reap the benefits of last-minute holiday shoppers
by adjusting their December marketing strategies, according to new
research released today by Acxiom® Corporation (Nasdaq: ACXM), a
global leader in marketing services and technology.
The Retail Consumer Dynamics Study, “Generate More Jingle This
Holiday Season,” shows that two out of 10 consumers don’t start
their holiday shopping until December, providing additional
opportunities for retailers looking to drive incremental lift
during the upcoming holiday season.
“Retailers are always looking to make the most of the holiday
shopping season,” said Jim Harold, vice president of Acxiom’s
Retail and Consumer Markets group. “By employing multidimensional
insights to adjust media mix and spend, and personalizing the
content and cadence of marketing messages, retailers can get
greater share of the $23 billion spent by last-minute holiday
shoppers.”
The study identifies three groups of shoppers based on when they
begin their holiday shopping:
- Prepared shoppers – Those who start
their shopping as early as September.
- Power shoppers – Those who
intentionally avoid the busy shopping season immediately after
Thanksgiving and start in early December.
- Panic shoppers – Those who
procrastinate until mid- to late-December and find themselves up
against the clock to make their purchases.
Men account for nearly two-thirds of the power and panic shopper
dollars spent. Age, gender and time left to shop may combine to
affect where they choose to shop. For example, both men and women
panic shoppers under 35 are more likely than their over-35
counterparts to shop department stores, while male panic shoppers
under 35 consider electronics stores to be a strong option.
Ethnicity may also be a factor as nearly twice as many females
as male panic shoppers are of Hispanic descent, and more than twice
as many female as male panic shoppers are African American.
The study makes the following recommendations to retailers who
aim to attract last-minute shoppers:
- Emerging media like texting and instant
messaging offer actionable and cost-effective opportunities since
messages can be easily created and tailored to align with unique
consumer life stages, specifically the millennial age group
(18-33).
- Media spending on broadcast can be
increased in the last 15 shopping days, or be reallocated toward
digital tactics which deliver a more personal one-to-one
experience.
- Retailers may be able to reconfigure
in-store tactics such as promotional displays and end-caps in order
to leverage the combination of shopper types as well as
gender.
“Understanding last-minute holiday shoppers and their spending
habits will allow marketers to more effectively allocate marketing
dollars across a broader spectrum of media options,” said
Harold.
Acxiom’s Consumer Dynamics Studies are based on insights drawn
from BIGresearch® Consumer Intentions and Actions® and Simultaneous
Media Usage® Surveys.
Click here for a copy of Acxiom’s latest Retail Consumer
Dynamics Study. For more information on Acxiom products and
services or to learn more about the consumer insights in this
study, call 1-888-3ACXIOM or visit www.acxiom.com.
About Acxiom
Acxiom is a recognized leader in marketing services and
technology that enable marketers to successfully manage audiences,
personalize consumer experiences and create profitable customer
relationships. Our superior industry-focused, consultative approach
combines consumer data and analytics, databases, data integration
and consulting solutions for personalized multichannel marketing
strategies. Acxiom leverages over 40 years of experience in data
management to deliver high-performance, highly secure, reliable
infrastructure management services. Founded in 1969, Acxiom is
headquartered in Little Rock, Arkansas, USA, and serves clients
around the world from locations in the United States, Europe,
Asia-Pacific, the Middle East and South America. For more
information about Acxiom, visit Acxiom.com.
Acxiom is a registered trademark of Acxiom Corporation.
About BIGresearch
BIGresearch consumer intelligence provides analysis of behavior
in areas of products and services, retail, financial services,
automotive and media. The BIGresearch Consumer Intentions and
Actions Survey (CIA) of 8,000+ respondents is conducted monthly and
the Simultaneous Media Usage Survey (SIMM) of 20,000+ respondents
is conducted semi-annually. More information is available at
http://www.bigresearch.com
BIGresearch, Consumer Intentions and Actions, and Simultaneous
Media Usage are registered trademarks of Prosper Business
Development Corp.
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