Social media has become an integral part of how consumers connect around the holidays when conversations turn to about shopping trends. Social data guru, Tina McCorkindale, discusses:
- How are holiday shopping behaviors evolving?
- What trends will persist in 2014 and how can you take advantage of them?
- Other key insights on the most discussed products and brands, perceptions around Black Friday, and how companies can create a better consumer experience.
Peeling the onion and what drives brand perceptionsPart of the analysis is understanding purchase intent – help people understand the journey – the whole buying processStructure in the approach in the analysisBeyond positive and negative sentiment and buying behaviors
48% increase in volume from 2012 to 2013 – could be due to growth of SM2012 Thanksgiving – Nov. 22Late shopping year – people may have felt the crunch (shorter holiday season), last-minuteShopping season continues to start early
Dec. 25 – people talked about presents they receivedDec. 24 – complaints about things not being delivered on time, bad presents - Cyber Monday – bad dealsBlack Friday – lines, cold,
Mostly negative sentiment – but people still felt obligation to the stores to the shop
Also rude employees, cold weatherLove thrill and excitement
Consumers want to avoid crowds and linesOnline retailers offer Black Friday dealsResearch, reviews and retailer comparisons are at your fingertipsGreater selection online More brick and mortar stores offer deals onlineAbility to handle last minute ordersFree shippingIncrease in retailers taking advantage of both shopping days.
Target – data leaks after analysis periodWalmart received a lot of flack for opening on Thursday. People refused to shop there or wanted to boycott the store.Brick and Mortar is their primary retail channelBlack Friday was a busy holiday also for AmazonAmazon credit card rewards points, free shipping, Amazon Prime, drones, Amazon shipping due to UPS
More viscerally tweeting in stores versus writing a blog about itPeople tied holiday shopping with watching the Hunger Games released on Black fridayPeople sought advice from others about giftsStarbucks being inside TargetTalk about PS4 and Xbox – Amazon rate of sale 1000 per minutePeople complain about what their parents buy
Social data can help predict “hot” or sold-out itemsSocial is a great tool to understand buyer behavior, product consideration, discovery and purchase · Social affects where people shop, what they buy and what they products they recommend/talk about· Social can be helpful in creating a superior customer experience and providing shoppers with customer service that will drive brand affinity and loyalty
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