Valpak® Shares Consumer Shopping Insights for Holiday 2014
Consumer Behaviors Shift as Deals Emerge and Small Businesses to Hold their Weight against Big-Box Retailers
November 05, 2014 // Franchising.com // LARGO, FL - Valpak, a coupon powerhouse for more than 45 years, has tracked shopping trends in its annual readership survey, and found some surprising differences in consumer purchasing decisions this holiday shopping season.
With an increased amount of savvy shoppers, individuals are now focused on shopping smarter to identify the best deals. According to a recent Valpak Consumer Survey,* although holiday spending habits are changing, only 18% plan to spend full price on a gift for a loved one.
"Shopping habits of today have changed due to more mindful consumers and a different approach to holiday spending," said Michael Vivio, president of Valpak. "Consumers are no longer dazzled with un-targeted promotions and better understand the competition retailers have with one another during this peak season. Because of this knowledge, consumers are demanding more, and most if not all, don't feel obliged to pay full price during the 'season of giving'."
Consumers also prefer to shop in-store to secure the best deal, according to the survey, yet also want to keep a little extra money in their pockets. And while they might be checking their phones for deals, they are not purchasing from their mobile devices as much; 48% know for certain that they will not purchase from a mobile device this year, with the number one reason being that they prefer to shop in-store.
When it comes to gifting, they might not be caving into peer pressure as well: 57% do not plan to purchase this years 'it' toy.
As a supporter of 55,000 businesses nationwide, Valpak also predicts a few major shopping trends to surface during holiday 2014 relating to both small business and consumer behaviors:
Battling with Big-Box Retailers: The holidays may be a challenge for many small businesses, especially when competing with big-box retailers and their increasingly lower prices. This year, local businesses will become even savvier when targeting consumers and a large piece of this strategy involves providing original, geo-focused gifts consumers desire.
In addition to finding a gift this season that may be a bit more unique or out-of-the-box, consumers are becoming more cognizant of how these types of purchases help give back to their community. People want to put their money where it will have the biggest impact and are now realizing they can find deals at smaller retailers, too.
Dinners vs. Deals: Each year, the bargains seemingly begin earlier and earlier, and now, consumers are putting down their napkin to put down their credit card at a nearby retail location. In hopes of a cost-savings, many consumers now depart holiday dinners early to score a deal.
Behaviors and priorities are changing as some consumers prefer to secure a coveted item in-store, rather than spend priceless time with family and friends. In many cases, the deal isn't worth the memories you'll miss, and knowing the best times to buy is really the key to success to save some holiday cash.
"Consumers are savvier than ever and are seeking a more personalized shopping experience," added Vivio. "In order to 'win' this holiday season, retailers need to better understand their consumers' wants and needs and this may be the huge advantage of smaller, local businesses. These companies now have opportunity to compete with the larger-scale retailers based on their nimbleness and ability to adapt faster and quicker to exceed consumer expectations."
*2014 Valpak® Readership Survey (Wave 2), Research Now® (September 2014)
Valpak, one of the leading direct marketing companies in North America, is owned and operated by Cox Target Media. With nearly 170 franchises across the United States and Canada, the signature Blue Envelope¨ delivers coupons and savings to nearly 40 million households each month. Annually, Valpak will distribute some 20 billion offers inserted in more than 500 million envelopes. Valpak also offers digital solutions online through http://www.valpak.com and http://www.valpak.ca, sites offering free coupons, e-commerce and coupon codes. Additionally, the Valpak mobile coupon app for smartphone platforms delivers easy to find savings for consumers. For more information about advertising with Valpak, please contact 1-800-676-6878.
About Cox Media Group
Cox Media Group is an integrated broadcasting, publishing, direct marketing and digital media company that includes the national advertising rep firms of CoxReps. Additionally, CMG owns Cox Target Media, which operates Valpak, one of North America's leading direct marketing companies, and Savings.com, a leading online source for savings. The company's operations currently include 14 broadcast television stations and one local cable channel, 57 radio stations, eight daily newspapers and more than a dozen non-daily publications, and more than 100 digital services. CMG currently operates in more than 20 media markets and reaches approximately 52 million Americans weekly, including more than 30 million TV viewers, more than 4 million print and online newspaper readers, and 14 million radio listeners. For more information about Cox Media Group, please check us out online at www.coxmediagroup.com.
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