Taptap has put together top insights for retailers in advance of Black Friday and the holiday season this year from leading industry research and proprietary platform data. We outline how new retail solution packages can help advertisers tailor strategies to these behavioral trends.
Though much remains to be seen in the current unpredictable context, we are starting to shine some light on consumer behavior, or how consumers are venturing into the holiday season. As we well know by now, the pandemic has turned our routines upside down, and shopping habits are no exception. Everything from what we are buying to how we are buying it has changed, and most of us now expect more from our brands.
Some predict that the nearly two years of pent up demand will result in a deluge of purchases, starting with Black Friday through the winter holidays, so the question top of mind for every retailer is: how to communicate with consumers, and how to divvy up ad budgets to do so. For the answer, we turn to research and Taptap For Retail, a package of retail solutions, designed based on this research.
After combing through our own data, and supporting our findings with extensive market research from market experts, we found the following key insights for 2021:
- Despite mobility restrictions, nearly half of retail shoppers still prefer to shop in person rather than online. While ecommerce is indeed growing rapidly, it still represents only 20% of total global retail sales, whereas the remaining 80% comes from physical stores.
- Piggybacking on the above, omnichannel shoppers (those who shop online and in brick and mortar stores) spend more, more often than single channel shoppers. For example, between 30% - 40% of consumers using click and collect buy additional items when they get into the store.
- Finally, we found that 50% of global Ecommerce happens on mobile devices, a natural occurrence as consumers are discovering products and engaging in purchase research via their phones and tablets where information is rapidly available. Likewise, the path to purchase is lengthening.
So if you’re a retailer, especially one who wants to make the most of Black Friday and the holiday season, what are your next steps? How can you tailor your messaging to these insights while guaranteeing efficiency - an essential requirement for both brands and consumers?
Taptap has designed a package of retail solutions around these trends to help advertisers achieve their goals. The retail solutions apply exclusive online and offline behavioral data to create a rich view of the consumer - new or existing - and to consider how the user context should influence the media strategy. They streamline the planning, activation and measurement of retail campaigns and facilitate the needs of retail advertisers like generating wide, but efficient coverage and building omnichannel, relevant points of contact (including on mobile devices) with high potential customers.
Key takeaways from Taptap for Retail?
- Solutions that provide coverage for all areas of store influence, dynamically changing creative per store
- Build strategies according to historical and current visit patterns to your stores and those of your competition for competitive conquesting
- Heavy up on mobile for when audiences are close to your stores or already in the purchase process
- Sync the message to the moment - driving either ecommerce or store traffic depending on the context
This year, making sure omnichannel shopping patterns are reflected in an omnichannel media strategy is key as well as providing clear, consistent and relevant communication to your customers. We are all ready to ring in a bit of holiday cheer, so get in touch with Taptap to create a plan for your brand.
Sources: Sonata Platform | eMarketer | Forrester Research | Harvard Business Review | International Council of Shopping Centers | Raydiant | Shopify | Criteo
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