Daily Newsletter

06 September 2023

Daily Newsletter

06 September 2023

UK consumer priorities explored in eBay Ads UK’s latest study

eBay Ads UK has released comprehensive research unveiling shifting priorities among UK consumers during the Christmas shopping season.

Mohamed Dabo September 06 2023

In a recent survey conducted by eBay Ads UK, it has been revealed that British consumers are placing a premium on getting the best value for their money during this year's Christmas shopping season.

With the ongoing pressures of the cost of living, thoughtful gifting is emerging as a significant trend.

More than half (51%) of UK consumers who celebrate Christmas have identified "good value for money" as their top priority when shopping for gifts this festive season.

This emphasis on affordability is driven by the financial strains that many are facing, with nearly half (48%) planning to scale back their celebrations due to the cost of living.

For 19% of respondents, the upcoming Christmas season is expected to be particularly stressful, given the additional financial concerns. This percentage closely mirrors the stress level reported in the previous year (20%), highlighting the lasting impact of the cost of living on shoppers.

A shift towards thoughtful gifting

The survey findings also indicate a shift in consumer preferences towards meaningful gifts rather than extravagant ones. Approximately 64% of respondents believe that thoughtful gifts hold greater value than expensive ones.

This inclination towards meaningful gestures is reflected in Christmas shopping plans, with 47% of respondents intending to purchase thoughtful gifts for friends and family.

Additionally, 48% of consumers expressed their intent to invest significant time exploring their gift options before making a purchase.

Holiday season getaways on the horizon

Despite the frugal approach to peak season spending, many Brits are planning Christmas getaways. Roughly one in five (20%) individuals are gearing up to celebrate the holiday season with a vacation.

Of these, 19% plan to travel abroad, either to visit loved ones, enjoy a winter destination holiday, or seek a warm-weather escape. As a result, 27% of holidaymakers plan to invest in cold-weather clothing and footwear, while 24% are prioritising attire suitable for warmer climates.

Upasana Gupta, GM of eBay Ads UK, acknowledged the changing landscape, stating, "Following ongoing economic pressures, it’s to be expected that many Brits are taking a more cautious approach to their Christmas spending this year."

She emphasised the shift towards finding thoughtful items over expensive gifts and urged retailers to offer value in their inventory, whether through price or quality.

Advertising's impact on peak season shopping

The research also shed light on the influence of online advertising on Christmas shopping. A significant 34% of consumers reported being influenced by online advertisements during the holiday season.

This influence ranged from being somewhat influenced, where ads sparked discovery, to heavily influenced, where ads played a critical role in helping consumers find exactly what they sought.

Upasana Gupta emphasised the importance of marketing strategies for brands and sellers in the lead-up to the busiest retail period of the year, adding: “it’s key for brands and sellers to invest in their marketing strategies, to engage and inspire consumers throughout their Christmas shopping journey.”

COVID-19 drove rapid digitalization within the retail and apparel sector

As ecommerce experienced booming growth during the COVID-19 pandemic, retailers accelerated their digitalization strategies to keep up with demand. The cloud has become an important model for delivering and maintaining enterprise IT resources. Many retailers have developed in-house cloud divisions that will allow them to better exploit the cloud’s capabilities. However, for those players that do not have the necessary skills in-house, the cloud can pose some significant challenges.

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