With Cyber November around the corner, we’ve got 4 insights from our recent consumer research survey that every marketer will find of interest.
1. Spending expectations are down, but less so among younger consumers.
Four in ten consumers say they plan on spending less this Black Friday and Cyber Monday (BFCM), while about a quarter plan on spending more. The takeaway? Shoppers are approaching this year’s sales season with more caution. But there’s a twist – younger consumers are bucking the trend and are more likely than their older counterparts to be increasing spend, peaking with a considerable 39% of 25 to 34-year-olds who plan to be dishing out more cash this BFCM.
2. The influence of email marketing continues.
Nearly a third of consumers find email to be the most influential channel on their BFCM shopping plans – a figure even higher than social media ads and posts (21%).
A thoroughly fleshed out email strategy will be a major benefit for brands – especially those that get personalization right. A whopping 79% of consumers note that they are likely to engage with personalized emails tailored to their interests.
3. Consumers’ spending plans may be more impromptu than you think.
Three in ten consumers do no formal planning at all for BFCM shopping, while 27% begin their shopping plans with less than a week to go. With so few consumers planning ahead, brands will need to continue driving home their promotions until the very last moment.
4. Loyalty will pay big this BFCM.More than two-thirds of consumers will pay more to shop with the brands they’re loyal to. Among key factors driving loyalty are personalized offers and promotions, which 64% of consumers note are important influences on said loyalty. Brands stand to gain by weaving this personalization into their dedicated loyalty programs, with 37% of consumers more likely to participate in loyalty programs this year, while a mere 7% will be reducing their participation.
About Marigold
From email to SMS to loyalty programs to zero-party data acquisition and beyond, Marigold offers comprehensive solutions that support the entire customer lifecycle, making it easy for brands to grow the relationships that grow their business.
Today, bringing together Campaign Monitor, Cheetah Digital, Emma, Liveclicker, Sailthru, Selligent, and Vuture under one banner, Marigold is helping 40,000 brands deliver ultra-personalized customer experiences at scale.
About the Research
Marigold, in conjunction with Econsultancy, surveyed 21,700 consumers across the US, UK, and France in July and August of 2024. Explore our other research here.