Research Finds That 16% Of Irish Shoppers Plan To Splurge And Spend More This Christmas
New research has found that 16% of Irish consumers plan to spend more on their Christmas shopping than in previous years. The survey was carried out by Kinetic Insight, the specialists in Out of Home (OOH) communications for brands, and Spark Market Research. The research examined the trends and changes in Irish shopping habits as a result of the Covid-19, with a specific focus on consumer habits in the lead up to Christmas and was carried out online in September 2020 with 250 respondents.
Spending power of Irish consumers
The results highlighted that there is strong spending power amongst Irish consumers, despite the economic uncertainty of the current environment. 36% of respondents said that they plan on spending the same this year as previous years, but notably, 16% plan on spending more. Of those planning to increase their spending, 45% cited a ‘difficult few months’ as the main reason.
The survey has identified a number of respondents who made significant savings since March. 38% of respondents plan on spending money these savings for the festive season. This trend is most prevalent amongst the younger age cohort, aged 16-24, as 51% of this demographic plan to use savings for their Christmas shopping this year.
Interestingly, almost half of respondents also plan on starting their Christmas shopping early this year, which is consistent across all demographic groups. 22% started their shopping in September, with the majority of respondents planning to start in October (49%), followed by 27% in November. A mere 2% of respondents plan on doing their Christmas shopping in December.
Caroline DeCourcy, Insights Director at Kinetic Insight said: “Christmas shopping requires planning every year and this year is no different. But given that 2020 is the year of the pandemic, retailers and brands will need to be more strategic in planning how they can reach consumers. Consumer shopping habits have been altered in so many ways and brands need to be creative to reach their audiences in an efficient and effective ways.”
Preferred method of shopping
16% of respondents plan on shopping mainly in store, but e-commerce will also play a significant role in this year’s gifting season. 41% plan on shopping using a mix of online and in-store, which represents a 6% increase on last year.
55% stated that they will do most of their in-store shopping in a shopping centre, with a further 34% stating they will do their shopping in high street stores. This is significant for brands, as it highlights the continued importance of retail and on-street presence for targeting this year’s Christmas shoppers.
How brands can engage with Christmas shoppers
With the increase of Digital Out of Home formats in premium locations, such as billboards and transport formats, advertisers can reach consumers in transit, as well as within the retail environment.
This offers an opportunity for brands and highlights the importance of OOH advertising as ‘a reminder medium’. Research carried out by Kinetic showed that 30% of people reported visiting a brand’s website after seeing an OOH advert and that OOH is one of the most effective mediums in terms of driving search.
57% of people reported using their phones to store photos of products to look up more information later. By using OOH during the gifting season, brands can become part of their audiences’ scrapbook of gift ideas.
Caroline added: “At Kinetic, we have invested significant time to understand how consumer behaviour has changed and how we can support our clients with fit for purpose campaigns to reach their target audiences. This research will inform our OOH planning for the remainder of 2020 and enable us to target campaigns in locations with steady footfall, such as shopping centres and other retail formats.”