A sharp focus on driving efficiencies against a backdrop of economic uncertainties may hold retailers back this peak shopping period, Google advises.
Brand new Google research and search data, in collaboration with Trinity McQueen and Ipsos Mori, finds more UK shoppers than ever are showing a willingness to try new products, put time aside to research before making a purchase and seek out more personalised experiences when shopping online.
Google has observed how peak shopping has started earlier in recent years – and 2023 is no exception. More than a third (37%) of UK consumers plan to start shopping earlier than in previous years .
The striking statistic marks a massive rise in the use of Search to gather inspiration before a purchase with 74% of consumers saying they will research online before a purchase in the coming months. And one in three Brits say they now spend time online gathering inspiration about products for fun.
Showing up in this window of inspiration gathering presents an opportunity for retailers but it’s important that brands personalise their recommendations, as agreed by 80% of respondents under 35. For those over 35, that number is 47% and growing.
The findings align with what Google has been seeing all year. This includes a rise in search interest around reviews and ratings and sustained growth in terms containing questions — up 25% compared to the past three years during the same period – including popular shopping searches like “which is best” and “where to buy”. Such shifting consumer behaviours are making for a very different peak shopping season.
Jacqui Owens, lifestyle retail director, Google commented: “With consumers actively looking for inspiration online before making a decision to buy, it’s integral that brands show up earlier in the purchase journey to influence final purchasing decisions. Despite increased competition in the market this year, the good news for retailers is that the technology has never been more effective as a means to engage with incremental, high-value customers in a rapidly changing environment. By leveraging Google’s AI and harnessing first party data to lean into consumer intent and understand specific audience signals, retailers can increase their opportunity to thrive, not just survive, as we approach the peak shopping season.”
Google’s Owens recommends retailers take four key actions in response to the research and search insights announced today in order to better reach & convert the curious consumer this peak season:
- Show up in the ‘path to purchase’ : Performance Max campaigns can help you lean into consumer intent and audience signals across Google’s channels – all while working towards one business goal to help optimise for profitable growth.
- Experiment with channel mix to reach curious consumers : Use consumers’ willingness to try new brands to your advantage – Search and Shopping ads can highlight unique product features and social proof, while formats such as YouTube Shorts can appeal to younger audiences.
- Relevance as a means to turn heads : Harness first-party data and Google AI solutions to deliver hyper-relevant, personalised advertising on a privacy-first web. Show your customers how and why your product will enrich their lifestyles (or make the perfect gift).
- Focus on driving profitable growth: While the pandemic era focus on the pursuit of business growth has given way to a focus on cost efficiencies, UK retailers still have routes to profitable growth
