The 2014 Holiday Study from Bond Brand Loyalty reveals new information on when, where and how consumers are researching and shopping for gifts this year. Loyalty continues to play a critical role, with 66% of consumers planning to shop at their favorite retailers; 44% will give gifts purchased from brands they are loyal to and, to stretch their dollars even further, 42% will use loyalty points to fund their shopping.
The study, which surveyed 1000 Americans, found holiday gift budgets are up over last year at $770, with generosity lowest for pets and bosses at $10 each. With only 50% of consumers planning to stick to their budget, there’s lots of opportunity for brands to influence customers and to increase share of wallet.
“This study is always entertaining and valuable,” said Rob Daniel, EVP, Bond Brand Loyalty. “The insights we uncover about shopping behavior, attitudes and preferences can help brands engage more effectively with consumers, ensuring that consumers get the level of service they need to make holiday shopping a positive experience. For example, we found that less than one-third of consumers think customer service is better during the holidays. This is a great opportunity for brands to invest in unique differentiators, like VIP shopping events, gift wrapping, valet parking and loyalty member privileges, to make this important and busy shopping season more enjoyable for their customers.”
Download the 2014 Bond Holiday Study infographic here.
Source: Bond Brand Loyalty Inc.