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According to the National Retail Federation, 2015 holiday sales are expected to reach an estimated $630.5 billion dollars. In order for retailers, manufacturers and shopping outlets to get their fair share of the shopping bag, it requires an understanding of the consumers who are most likely to be spending for the holidays. By examining the consumer segment of Gift Splurgers, adults 18+ who like to shower their loved ones with gifts and consider themselves spenders rather than savers, Nielsen Scarborough offers several insights for better understanding and engaging this profitable holiday shopper segment.
Just like presents, Gift Splurgers come in all shapes and sizes. They are slightly more female and while they span all age groups, they are 17% more likely to be a Millennial. With an average annual household income of $68,000, their wallets are primed for shopping. When the cash is gone the plastic will come out with 77% having used a credit card during the past three months. With 2 out of 4 Gift Splurger households containing at least one child, toys are likely to be on their holiday shopping list. But Rover or Fluffy are not to be forgotten as pets can be found in over half of Gift Splurger households.
With the myriad of shopping options available, how do you engage these wandering wise men and women and ensure your messages are heard over the holiday music? First, start by showing them you have the items that are “hot” for the season. Gift Splurgers are 65% more likely to be influenced to buy these hot ticket items. Then bring on the star power with celebrity endorsements and appearances as Gift Splurgers are 67% more likely than the average adult to say a celebrity endorsement will impact their decisions to buy a product. And don’t forget the significant impact of a child’s wish list, Gift Splurgers are 25% more likely to select brands based on the requests of a child.
Use the power of digital video displays to deliver your holiday messages and capitalize on impulse purchasing. One out of every four set of eyeballs viewing a digital video screen in a mall belong to a Gift Splurger and they are 55% more likely than the average adult consumer to make an impulse purchase. Splurgers are never without their mobile devices, 83% have it with them at all times, so use this opportunity to alert them to in-store offers and discounts. And let them sample some of the holiday goods, Gift Splurgers are 70% more likely to say they would rather receive a sample than a coupon.
With over 62 million U.S. shoppers qualifying as a Gift Splurger, the season promises to be merry. Keeping them engaged with hot ticket items for friends, family and pets via mobile, social and digital displays will deliver the sound of ringing cash registers. So “Tis the Season to be Merry” and “Keep Calm and Splurge On”.
SOURCE: Nielsen Scarborough USA+ Release 2, 2014/GfK MRI Attitudinal Insights Data