According to a survey conducted by marketing platform Optimove, a majority of U.S. consumers (78%) plan to spend the same or less on summer goods in 2023 compared to 2022 (36% plan to spend less and 42% plan to spend the same), and less than a quarter (22%) plan to spend more. Nearly half of consumers (47%) are currently less confident about the economy in summer 2023 compared to 2022, while a quarter are very confident about the economy. The survey also found that more than half of consumers plan to buy summer goods in May and June, and some even plan earlier. On the other hand, 68% of consumers said they hope to learn about sales before April so that they can take action and buy as soon as possible, and 51% of consumers said that early promotions may prompt them to buy. The survey found that the most popular items that American consumers plan to buy are clothing (78%), swimwear (58%), home furnishings and beauty products (50% each). The top motivations for consumers to buy are price (77%) and quality (78%), and brand reputation (28%) ranks third. Consumers prefer to purchase large-ticket items, such as patio furniture and grills, in-store. Additionally, 79% of consumers say they check prices online when shopping in-store. 52% of consumers said that their favorite form of communication is email, 66% of them said they want to reduce marketing messages, and 27% of consumers feel that they are bombarded with marketing messages. 73% of consumers said they would cancel a subscription if a brand misused their personal information. In the eyes of consumers, trust in retailers comes from word-of-mouth reputation gained from reading online reviews or talking to friends. “While consumers are eager to make early summer purchases, trust is the most important factor driving purchases,” said Pini Yakuel, CEO and founder of Optimove. “Retailers should also be mindful of marketing fatigue and adjust their communications accordingly. Additionally, understanding product category preferences is critical to determining whether consumers prefer to shop online, in-store, or both. Retailers must act as advisors first and sales machines second, providing guidance to consumers to build trust and loyalty.” Optimove surveyed 400 U.S. citizens in March 2023. Respondents were aged 18 and above, 49% were male, 51% were female, and their household income was above $75,000. Editor ✎ Nicole/ Disclaimer: This article is copyrighted and may not be reproduced without permission. |
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