A national study conducted by daVinci Payments of women ages 18-75 found female shoppers will continue to push for greater convenience and price value this holiday season. The September 2019 study revealed, while 45 percent of women surveyed report increased wealth and buying power, 43 percent predicted they will spend the same this holiday season versus last year, 30 percent indicated they will spend less and only 27 percent said they will spend more.
Online shopping continues to grow significantly, as indicated by the following survey results:
- 47 percent intend to make more than 50 percent of their holiday purchases online.
- 69 percent are Amazon Prime members.
- 52 percent make at least half of their online purchases from Amazon.
- 52 percent buy from reseller sites, with designer clothes and accessories being the number one category they purchase.
- 45 percent make more than half of all of their online purchases from their phones.
- 81 percent shop online for convenience.
In spite of their price consciousness, 80 percent have no idea what they intend to buy or what they want to receive this holiday season. Women shoppers’ holiday season buying decisions may be influenced by rebates and loyalty prepaid rewards, as suggested by the following survey responses:
- 70 percent would choose a $100 rebate over a $50 instant cash discount on a $500 purchase.
- Loyalty and rebate prepaid rewards are preferred by twice as many participants as PayPal and check rewards.
“We live in a world where Amazon and online resellers provide a level of convenience and savings that retailers find tough to match,” said Rodney Mason, Chief Revenue Officer, daVinci Payments. “Retailers need a mobile-first approach at every touchpoint to make the shopping experience as convenient as possible. Additionally, rebates and loyalty programs provide a significant opportunity for retailers to entice women shoppers during this holiday season. As people look to compare deals in an effort to spend less, brands need to draw them in with compelling discounts and retain their loyalty with ongoing surprise-and-delight offers focused on convenience, relevancy and value.”
In December 2018, daVinci conducted a survey on brand loyalty and drew the following conclusions about female shoppers:
- 84 percent are more loyal to brands that surprise them with savings offers.
- Price is the top factor when making purchase decisions.
- The majority are neutral between name and private label brands.
- They discover new brands most often from friends and family.