Digital Ad Spend Will Pay Dividends For Retailers This Holiday Season
Online advertising is key to driving in-store traffic in the crucial shopping season as more consumers rely on online research prior to physical purchase, Eyeview finds.
Digital advertising will be the key driver of in-store traffic this holiday season as more consumers rely on online research prior to making a physical purchase, according to customized video ad platform Eyeview’s holiday shopping survey.
Of the survey’s 500 respondents, 52 percent stated that they research products on desktop or mobile prior to coming in-store to make a holiday purchase, and 55 percent that they plan to make all of their final gift purchases in physical stores.
“The Eyeview holiday shopping survey… shows that retailers have a huge opportunity to influence shopping decisions through strategies like localization and shifting in traditional targeting for digital campaigns during this time of year,” said Oren Harnevo, CEO and Co-founder at Eyeview. “We learned that many people are shopping at the last minute, providing marketers with the opportunity to advertise lower in the purchase funnel during this holiday season.”
Below, the three key takeaways from the report:
- For in-store results, run online ads: Even with the rise of online shopping, people still plan to shop in-store this season and marketers have an excellent opportunity to influence buying decisions online beforehand, Eyeview finds. This isn’t to say that in-store branding and special promotions should be left aside; the majority of respondents said that they plan to make their final purchase in the store rather than online.
- Local promotions have persuasive power: 58 percent of people are most likely to be convinced to make a holiday purchase with a promotion for a nearby store, according to the report. Email ads for a product that a consumer previously researched appear least likely to convince consumers to make a purchase (10 percent). With digital video consumption up 13 percent from last year, marketers have options when it comes to where to shift their holiday campaign ad spend.
- It pays to double down on digital in November and December: Despite reports chronicling how the holiday shopping season has expanded, about one-third of Americans don’t start thinking about holiday shopping until November. That leaves September and October for building awareness, but November remains the key window to influence shopper behavior.