Consumer Behavior and Expectations: The 2017 Holiday Season
The holiday season represents a massive opportunity for retailers, both online and traditional. Last year’s Adobe Digital Index Report showed consumers spent $91.7 billion online in the U.S. alone, an 11 percent increase from the year before. However, not every retailer can or should expect this growth rate, especially if they don’t adequately understand consumer patterns, buying trends and behaviors.
Trustpilot, a leading online consumer review destination with 35 million reviews of nearly 190,000 businesses, recently released its Consumer Behavior and Expectations: The 2017 Holiday Season report, with in-depth analysis on consumer behavior, sentiment and customer review patterns. While thousands of consumers indicated pricing was one of the most important considerations for the 2017 shopping season, language analysis of more than 1 million consumer reviews suggested otherwise. Consumer sentiment favored brands offering superior customer service and timely fulfillment over other popular holiday initiatives, such as discount pricing and flexible return policies. The report helps retailers capitalize on key expectations and behaviors by identifying specific consumer trends, biases and preferences.