Shifts In Consumer Behavior. New Research Shows That Phones Are Their “Anywhere” Assistant
Predictions and Trends
Dusting off last year’s holiday strategy isn’t going to cut it. Why? Shifts in consumer behavior. New research shows that with phones as their “anywhere” assistant, holiday shoppers are trading time spent browsing in stores for time researching on their devices before they leave home. And they’re putting off last-minute shopping until the literal last minute: In 2016, mobile searches for “where to buy” peaked on Christmas Eve. On top of all that, over 40% of online transactions are now done on mobile. And both in-store and online shoppers want to feel confident that they’re making the right decisions. So if you want the registers ringing this holiday season, be ready with the assist.
Holiday shopping, of course, isn’t the only area where consumer behavior is shifting. In the past decade, the length of time a person owns a new car has jumped from 4.3 years to 6.5 years, presenting an opportunity for dealers. And when they do replace their cars, shoppers are changing their approach. Where buyers used to visit five dealerships before buying a car, they now visit two—at most. But, according to Hyundai Motor America CMO Dean Evans, while car sales today start online, more than 95% of purchases still happen at the dealership. The company did something that many marketers will want to take note of. It rethought its strategy to close the gap between online and offline, which entailed everything from harnessing the power of search to anticipating customer needs to removing friction every step of the way.
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