Consumers globally prefer digital shopping channels in combination with physical ones in order to benefit from fast availabilities online, compare prices and to have a real experience in-store.
That’s according to International Holiday Shopping Report 2018 produced by digital financial technology firm Wirecard which surveyed more than 3000 consumers about their shopping habits and preferences during the end-of-year holiday season and beyond. The survey included people from Hong Kong.
Markus Eichinger, Wirecard’s executive VP of group strategy said today’s consumers are willing and able to shop around and compare offers before buying, and are also open to trying new brands if they meet their needs.
“The Wirecard International Holiday Shopping Report 2018 clearly shows that merchants have to provide true shopping experiences via digital and physical channels in order to meet their customers wherever they decide to make a purchase, whether that be via an e-commerce site, a mobile app or in-store,” he said.
The results showed that 39 per cent of respondents globally plan to shop on Black Friday. In Brazil, the percentage of Black Friday shoppers is the highest (67 per cent), followed by the UK (40 per cent), Germany (40 per cent) and the US (38 per cent). Hong Kong was the only country not to have Black Friday in first position – consumers there prefer to take advantage of Boxing Day sales (33 per cent), which is very common in some Asia-Pacific markets and in South Africa.
More than three quarters (77 per cent) of respondents globally said they would be likely or very likely to try new shops and items over the holiday shopping season.
More than two thirds (68 per cent) of consumers globally expect to make their purchases during the holiday season digitally either via a desktop site, mobile app, or mobile site. Overall, 18 per cent plan to shop in traditional stores.
Globally, consumers would most like to see mobile payment solutions implemented to improve their buying experience (46 per cent), followed by virtual or augmented reality (26 per cent) and artificial intelligence (22 per cent).
In all countries, the most important factor influencing a consumer’s decision to shop in-store is price (59 per cent), followed by quality of products and special offers or discounts. But the same three factors are the most influential when it comes to choosing to buy online.
Eighty-two per cent of consumers globally said they were either likely or very likely to combine various channels during the purchasing process, with Malaysia proving particularly fond of cross-channel shopping (96 per cent), followed by Brazil (92 per cent). The most popular reason for using a range of channels was to compare prices (51 per cent of respondents).