Can you believe that we’ve already arrived at the halfway point of the holiday shopping season? As we move on from a record-breaking Black Friday/Cyber Monday shopping event, we conducted sweeping research to discover how consumers thought about and interacted with the product content and experiences you worked so hard to deliver.
In our new research report, Unwrapped 2023: Product Content Performance in Peak Holiday Periods, we analyzed survey responses from over 1,400 consumers who shopped during the Black Friday/Cyber Monday sales event to learn what influenced their buying decision-making process, from product content to consumer experiences.
Download the report for a full breakdown of the data or read on for a preview of some of our findings.
Unwrapped 2023: Product Content Performance in Peak holiday Periods
Why Quality Product Content Matters for the Holidays
An informed shopper is more likely to turn into a buyer when they have the product information they want to feel confident about their gift purchases. Our analysis of the responses surfaced these insights and more.
Visions of Product Content Danced in Their Heads
On a happy note, about 80% of shoppers said they were able to find readily accessible information about the products they were considering. During a time when brands and retailers are competing for every moment of a shopper’s attention, and shoppers are making snap yes-or-no decisions, this is essential.
Oh, What Fun it is to Impulse Buy
Retailers count on shoppers to buy more than what’s on their holiday gift-giving list.
Thanks to persuasive product content, including creative imagery, information, and multimedia experiences, 40% of shoppers jumped at the chance to make unplanned purchases. This can be attributed to many things, but what we do know is that engaging content experiences and PIM-driven product recommendation engines are a pivotal contributor to motivating these types of sales.
Bah Humbug! Holiday Returns Are Coming Soon
Holiday returns are a major lump of coal in the stocking of retailers and distributors alike. They’re expensive to process and damage bottom-line profits.
Returns accounted for $816 billion in lost sales for U.S. retailers last year, according to the 2022 Consumer Returns in the Retail Industry report, conducted by the National Retail Federation. Though there are many reasons for returns, offering deep product knowledge upfront to set expectations and decrease disappointment should help contribute to lower return rates.
I’m Dreaming of… Enhanced Content
Shoppers told us that they prefer to experience certain types of product information when shopping during the Black Friday/Cyber Monday sales event.
A majority used the standard core information such as images, measurements, and ingredients—but Enhanced Content preferences were close behind. Here are a few popular ones that buyers looked at when making their purchasing decisions. This is something to keep in mind when developing your product content strategies for 2024.
Which, if any, of the following pieces of information do you look for to ensure you are making the right purchase for yourself/the receiver?
Download the complete report to learn more
