As the holiday season approaches, retailers are entering a critical period, magnified by ongoing economic challenges, especially inflation. For many retailers, this upcoming holiday season isn’t just another seasonal event; it’s a pivotal moment and a unique opportunity to recover losses incurred throughout the year, potentially leading to a transformative year-end outcome. Insights derived from Kasi Insight’s Holiday Shopping 2022 Survey, which meticulously tracked consumer shopping preferences in the run-up to Christmas and their gift preferences, offers compelling revelations. The survey disclosed that 72% of the surveyed South Africans were actively gearing up for December shopping. Furthermore, an impressive 68% of respondents earmarked a substantial portion of their budgets for gifts, spanning both self-pampering and thoughtful presents for their loved ones.
Furniture stores dominate Christmas gift shopping preferences
When it comes to choosing stores for Christmas gift shopping, distinct preferences between male and female shoppers, as well as overall choices, become evident. Furniture stores lead the pack with 27% overall preference, notably favored by females at 30% compared to 26% among males. Electronics stores claim the second spot with 18% overall preference, slightly more appealing to females (22%) than males (16%). Health and Beauty stores and small/local shops share an 18% overall popularity, with females showing a stronger inclination. Health and Beauty stores draw 24% of female shoppers, while small/local shops receive a 22% preference from females and 15% from males.
Traditional department stores maintain a respectable 17% overall preference. For those on the hunt for unique and eclectic gifts, open-air street markets, with a 16% overall appeal, significantly captivate female shoppers at 26%, while male shoppers lean towards a preference of 10%. Supermarkets, selected by 15% of all shoppers, display a slight tilt towards females at 17%, with males at 14%.
Holiday shoppers in South Africa seek a seamless experience
Across all shopper segments, a seamless and enjoyable shopping experience ranks as the top priority when it comes to choosing a retailer for gift shopping. This includes factors like friendly and attentive staff, a welcoming store atmosphere, and an organized layout. Discounts are highly attractive, reflecting the desire for financial prudence during the holiday season. Diverse gift options hold the third spot in influencing choices, catering to a range of tastes and preferences. Shoppers value the convenience of finding a wide array of gift ideas under one roof when searching for that perfect present.
However, nuanced distinctions do surface within shopper demographics. Male shoppers attach particular importance to the shopping ambiance, highlighting their inclination towards a pleasing and engaging shopping experience. In contrast, their female counterparts prioritize discounts, emphasizing their vigilant pursuit of cost-effective purchasing. Gen Z shoppers stand out with their distinctive reliance on peer recommendations as the second most influential factor. This underscores the significant role of social networks in shaping their shopping decisions.
The holiday season presents a golden opportunity for both value and premium brands to shine
For premium brands, the strong preference for furniture stores and electronics stores, particularly among female shoppers, suggests an opportunity to showcase high-end, luxurious, and technologically advanced gift options. These stores may cater to individuals seeking upscale gifts and are willing to invest in quality and prestige during the holiday season. Premium brands can focus on providing an elevated in-store experience, emphasizing product quality, and offering exclusive deals to attract shoppers who prioritize a premium shopping environment.
On the other hand, value brands may find potential in stores like open-air street markets and supermarkets. These locations are favored for their uniqueness and affordability, making them suitable for value-conscious shoppers. Value brands can leverage this preference by offering cost-effective yet thoughtful gift options, emphasizing savings, and appealing to the practicality of shoppers who prioritize discounts and budget-friendly choices. Value brands can focus on attracting female shoppers who prioritize discounts. Additionally, brands can explore collaborations or promotions that align with the desire for a seamless and enjoyable shopping experience, which is a common factor across all segments.
Contact our team today to explore how our economic intelligence can empower your decision-making process. Win with confidence with Kasi insights https://www.kasiinsight.com/thehub
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