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PeriscopeIQ Releases Survey Results on Holiday Shopping2011 Annual Survey Highlights Expected Spending and the Use of Mobile Devices and Social Media for Holiday Shopping (November 14, 2011)
COOPERSBURG, PA -- (Marketwire) -- 11/14/11 -- PeriscopeIQ, a provider of advanced web-based customer and employee experience solutions, today announced the results of its 2011 Annual Holiday Shopping survey. The survey results are based on 2,165 25+ year old female respondents who, on average, do more than 85% of the family holiday shopping. According to the survey:
- A majority of the shoppers (58%) plan to spend about the same as last year, while 33% plan to spend less. Only 5% plan to spend more this year.
- Nearly two-third (63%) plan to spend about the same on online shopping while 10% plan to spend more.
- 27% pre-shop online always or often before going to a store to make a purchase.
- About half (51%) started their holiday shopping in October or earlier. Only 9% plan to start shopping in December.
- More than one-third (37%) use online consumer reviews and 12% use social media interactions as a resource in making shopping decisions.
With the growing influence of social media in shaping shopper behavior, the survey also examined the extent of use of social media and mobile technology in shaping shopping decisions. According to the survey:
- Nearly 70% use social media regularly. Facebook is the dominant social media site with 64% of the respondents reporting its regular use, followed distantly by YouTube (16%) and Twitter (9%). Social media users spend most of their time (over 20 minutes daily on the average) on Facebook.
- The amount of time spent on the social media is leveling. Nearly two-thirds (65%) report that the time they spend on the social media sites has not changed over a recent period.
- For those who use social media, Facebook is by far the dominant (85%) resource they use to look for special offers or coupons from retailers.
- The impact of social media on significantly influencing purchasing decisions still remains relatively small. Across a wide range of product categories ranging from apparel to home goods to jewelry, more than 80% report that their shopping decisions have not been influenced by social media use.
Mobile technology is one of the key drivers of social media usage. The survey examined the current usage and trends in mobile technology. According to the survey:
- 90% of the respondents had access to mobile devices. More than half (55%) still use voice-only cell phones, but the fastest growing segment is the use of smartphones with more than one-third (37%) now owning a smartphone. About 9% own tablets.
- For those who own a smartphone or a tablet, half (50%) use the device while shopping at a store to help them in making shopping decisions. The biggest use is comparing prices with those at other stores, followed by the use of online coupons.
"The survey results this year indicate that sales during the holiday season will be relatively flat and reaching shoppers early will be important in this lackluster economy," said Dr. Pawan Singh, chief science officer at PeriscopeIQ.
Dr. Mohamed Latib, COO at PeriscopeIQ notes that "the buzz around social media and mobile technology suggests that businesses have to pay particular attention to the many social media channels, especially Facebook, and to the growing use of smartphones for instant knowledge, to manage sales and branding."
PeriscopeIQ is a provider of advanced web-based solutions that transform customer experience and employee feedback into actionable insight through its powerful on-demand analytical engine and fully customizable Voice of the Customer (VOC) and Voice of the Employee (VOE) solutions. Applying science and strategy, PeriscopeIQ uncovers customer and employee insights via a flexible delivery model. The company also partners with leading enterprises and associations to combine predictive analytics and time-tested business insights to deliver proprietary solutions with unparalleled analytical reporting capabilities. The PeriscopeIQ platform and methodology have been adopted by Fortune 500 companies and global organizations, including: Boston Scientific, Haliburton, Kohl's, Project Management Institute, Seagate Technology, Unilever, The Wharton School, The World Bank, and The World Health Organization. Founded in 1999, PeriscopeIQ is a privately held company headquartered in Coopersburg, Pa. For more information on the company, visit: www.PeriscopeIQ.com.
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