OpenX, has released the findings of a nationwide US survey looking at consumer shopping ahead of the 2018 holiday season. It found that the majority of consumers believe the economy is doing better today than it was a year ago, and 75% say it will improve over the next year. The strong consumer confidence metrics should translate at the cash register this year with more than 80% of consumers planning to spend the same or more on gifts this holiday season than they did in 2017.
This year’s report also found that the way in which shoppers consume content, research products and ultimately make purchases will undergo significant change, highlighting the challenges brand marketers face reaching and engaging consumers in today’s highly fragmented media environment.
Consumers are spending their time on a variety of different devices:
- 55% are on their smartphones for at least three hours a day, and more than a third of millennials and one out of four parents spend 6+ hours on their smartphones daily.
- 25% of consumers watch no live TV.
- Millennials spend 5X more time on a mobile device than watching live TV.
- Mobile and digital shopping have now reached parity with in-store shopping and consumers plan on spending nearly an identical amount in-store and online.
Whether it’s the 1 out of 4 consumers who now make mobile purchases weekly from bed at night or the 10% who are now using smart speakers to help research holiday purchases, consumers are shopping in new and unique ways, relying on mobile in particular, and advertisers that have developed smart omni-channel strategies to reach the always-on shopper will have the happiest holiday returns.
Dallas Lawrence, Chief Brand Officer at OpenX