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TrendSource releases results from consumer insight study

March 1, 2013

TrendSource released findings from its two-part consumer insights research study that it said aims to help retailers keep pace with omnichannel consumers. The first part of the study was conducted in October and November of 2012 and analyzed shopping intentions and expectations leading up to the holidays. The second phase took place in January of this year to analyze actual holiday results.

The post-holiday study revealed that consumers are divided into two primary categories: Those who are left with the burden of managing the debt incurred from purchasing gifts for their loved ones, and those who are rejoicing in the savings achieved against their holiday budgets.

Pre-holiday results stating that over 50 percent of consumers would be hesitant to purchase without a discount was consistent with post-holiday results in which 67 to 70 percent of all consumers bought more than half of their total purchases on sale items during the 2012 holiday season.

Consumers are indeed budget-conscious with 29 to 32 percent of them checking for better prices on their mobile devices while in physical retail locations. The survey results reveal that the frequency of checking for better prices while in-store was significantly more pervasive amongst Millennials than older demographics.

These budget-conscious consumers also purchased more holiday gifts in fashion and apparel and less in electronics than their initial stated intentions.

Read more about consumer behavior.