{"id":90448,"date":"2023-12-06T11:18:19","date_gmt":"2023-12-06T19:18:19","guid":{"rendered":"https:\/\/zetaglobal.com\/?post_type=insight&#038;p=90448"},"modified":"2024-04-16T14:32:30","modified_gmt":"2024-04-16T21:32:30","slug":"zeta-data-proves-consumers-shop-spend-more-than-they-report","status":"publish","type":"insight","link":"https:\/\/zetaglobal.com\/resource-center\/zeta-data-proves-consumers-shop-spend-more-than-they-report\/","title":{"rendered":"Zeta Data Proves Consumers Shop\/Spend More than They Report"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"90448\" class=\"elementor elementor-90448\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ff7c79c elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"ff7c79c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-406c1b1\" data-id=\"406c1b1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a3a90e2 elementor-widget elementor-widget-blog-detail-hero-article-hero\" data-id=\"a3a90e2\" data-element_type=\"widget\" data-widget_type=\"blog-detail-hero-article-hero.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t<div class=\"article-hero article-hero__variant-1  article-hero--has-image\">\n\t\t<div class=\"article-hero__wrapper\">\n\t\t\t\t\t\t\t<img decoding=\"async\" class=\"article-hero__image\" src=\"https:\/\/zetaglobal.com\/wp-content\/plugins\/elementor\/assets\/images\/placeholder.png\" alt=\"\">\n\t\t\t\t\n\t\t\t<div class=\"content-eyebrow\">\n\t\t\t\t<div class=\"content-eyebrow__metadata\">September 27, 2023&nbsp;|&nbsp;<span class=\"span-reading-time rt-reading-time\"><span class=\"rt-label rt-prefix\"><\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">min read<\/span><\/span><\/div>\n\t\t\t<\/div>\n\n\t\t\t<h1 >\n\t\t\t\tSeth Rogen\t\t\t<\/h1>\n\t\t<\/div>\n\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1c2449b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1c2449b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-091841b\" data-id=\"091841b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0312ff1 elementor-widget elementor-widget-text-editor\" data-id=\"0312ff1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Despite gloomy economic predictions, Zeta Data shows average spend and total marketing activity are as strong as ever.<\/strong><\/p><p><span style=\"font-weight: 400;\">Ever since the onset of the pandemic in 2020, marketers and industry experts alike have been predicting stagnant holiday retail sales. Each year, headlines bemoaning the state of the economy and the anticipated pullback in spending start to inundate the news cycle. And it\u2019s no wonder why. Because shoppers keep <\/span><i><span style=\"font-weight: 400;\">telling<\/span><\/i> <span style=\"font-weight: 400;\">brands that they\u2019re going to change their previous behaviors and tighten their wallets each holiday season. In fact, when Zeta ran surveys across thousands of shoppers in North America earlier this year\u00a0 asking consumers about their shopping habits, they reported the following:<\/span><\/p><ul><li><a href=\"https:\/\/chainstoreage.com\/consumers-prepare-holiday-spending-37-plan-spend-less-100\"><span style=\"font-weight: 400;\">37% of consumers<\/span><\/a><span style=\"font-weight: 400;\"> claimed they would spend less than $100 on their holiday shopping.<\/span><\/li><li><span style=\"font-weight: 400;\">54% of U.S. consumers said Black Friday and Cyber Monday are no longer compelling.<\/span><\/li><li><span style=\"font-weight: 400;\">48% of consumers said better product prices, or discounts and coupons, would drive their decision-making process during the holiday shopping season.<\/span><\/li><li><span style=\"font-weight: 400;\">28% said they would drastically cut spend to prioritize necessities like groceries, and 35% said they would only spend on necessities instead of gifts this holiday season<\/span><\/li><li><span style=\"font-weight: 400;\">37% said they would focus their holiday shopping online, with the rest focused on in-store transactions. A higher amount for online than years prior.<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">Pretty stark numbers right? While some of these self-reported numbers from North-American consumers were actualized, many of them didn\u2019t pan out. This is because self-reported data and surveys<\/span><a href=\"https:\/\/www.verywellmind.com\/definition-of-self-report-425267\"> <span style=\"font-weight: 400;\">can be biased<\/span><\/a><span style=\"font-weight: 400;\">. The fact is, even when people are alone in their cubicles or sitting in their home offices, they\u2019ll often respond to surveys to present as a certain way, rather than how they <\/span><i><span style=\"font-weight: 400;\">actually<\/span><\/i><span style=\"font-weight: 400;\"> act.<\/span><\/p><p><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">In order to understand how consumers will engage with your brand\u2014from Black Friday through the end of the year\u2014you need to work with<\/span><a href=\"https:\/\/zetaglobal.com\/platform\/cdp\/\"> <span style=\"font-weight: 400;\">a powerful CDP<\/span><\/a><span style=\"font-weight: 400;\"> that can help you understand shopping trends in real time. So, we took a look at our own database of 235M+ US consumer profiles to get a more accurate grasp on how people actually shopped during this critical time.<\/span><\/p><h2>Black Friday and Cyber Monday Weekend Shopping Trends<\/h2><h3>Shopper Turnout Set an All-Time High<\/h3><p><a href=\"https:\/\/www.cnbc.com\/2023\/11\/28\/black-friday-weekend-shopping-turnout-soars-to-a-record.html\"><span style=\"font-weight: 400;\">Initial reports<\/span><\/a><span style=\"font-weight: 400;\"> indicated record-breaking shopper turnout over Black Friday and Cyber Monday.<\/span><\/p><ul><li><span style=\"font-weight: 400;\">134.2 million people shopped online this year, topping last year\u2019s total, according to the National Retail Foundation.<\/span><\/li><li><span style=\"font-weight: 400;\">An additional 121.4 million people shopped in store, reflecting the post-pandemic trend toward online shopping.<\/span><\/li><li><span style=\"font-weight: 400;\">Over 200 million people shopped over the four days from Black Friday to Cyber Monday, setting an all-time record.<\/span><\/li><\/ul><h3>Marketing Engagement Soared Compared to Previous Years<\/h3><p><span style=\"font-weight: 400;\">This increase in turnout is reflected in consumer engagement across all of the marketing outreach they received during this decisive period. A deep dive of all consumers within the Zeta Marketing Platform (ZMP) revealed:<\/span><\/p><ul><li><span style=\"font-weight: 400;\">An increase of nearly 25% from last year in terms of total consumer digital consumption\u2013which is measured in the number of marketing emails opened and programmatic ads that were clicked on Black Friday.<\/span><\/li><li><span style=\"font-weight: 400;\">The total clicks on emails served by marketers increased 11% on Black Friday and 15% on Cyber Monday compared to the previous year.<\/span><\/li><li><span style=\"font-weight: 400;\">Within the ZMP, we noticed that programmatic impressions increased 44.8% on Black Friday and 63.5% on Cyber Monday compared to the previous year.<\/span><\/li><\/ul><h3>Bargains Drove Consumer Spend<\/h3><p><b>\u00a0<\/b><span style=\"font-weight: 400;\">Our initial surveys noted that product pricing, discounts, and coupons were the most important influencing factors for shoppers. And that played out in actual shopping behavior throughout the end of November, as well.<\/span><a href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/us-retailers-hope-draw-picky-black-friday-shoppers-stores-2023-11-24\/\"> <span style=\"font-weight: 400;\">Multiple industry experts noted<\/span><\/a><span style=\"font-weight: 400;\"> that discounts and reduced holiday staffing dictate behavior regarding in-person spending. This in mind, it\u2019s still important for retailers to highlight any discounts or sales in the interest of overall market sentiment.<\/span><\/p><h3>Yet Average Spend Per Customer Beat Expectations<\/h3><p><span style=\"font-weight: 400;\">In Zeta\u2019s pre-holiday survey of thousands of consumers across North America, almost 40% reported that they planned to spend less than $100 on their holiday shopping this season. We were dubious about this from the start\u2014and for good reason.<\/span><\/p><p><a href=\"https:\/\/www.cnbc.com\/2023\/11\/28\/black-friday-weekend-shopping-turnout-soars-to-a-record.html\"><span style=\"font-weight: 400;\">Reputable sources noted<\/span><\/a><span style=\"font-weight: 400;\"> that average spend topped $300 over just the Black Friday and Cyber Monday weekend, leaving a full month before Christmas to rack up a bill on tidings of comfort and joy. Brands should continue to underscore bargains while remaining leery of a pullback in consumer spending.<\/span><\/p><h3>And Marketers Stepped Up Their Game to Meet Demand<\/h3><p><span style=\"font-weight: 400;\">Finally, marketers took note of the record-breaking turnout this year. And smartly so. Instead of bending their will to many economists who predicted a shrink in e-commerce and traditional spend, they doubled down and focused efforts on their Black Friday and Cyber Monday marketing.<\/span><\/p><p><span style=\"font-weight: 400;\">When looking at the performance data within the ZMP, we found:<\/span><\/p><ul><li><span style=\"font-weight: 400;\">64% YoY increase in omnichannel digital messages served<\/span><\/li><li><span style=\"font-weight: 400;\">49% YoY increase in ad impressions served to online shoppers throughout the whole weekend<\/span><\/li><li><span style=\"font-weight: 400;\">192% YoY increase in CTV ad impressions<\/span><\/li><li><span style=\"font-weight: 400;\">Nearly 50% open rate<\/span>\u00a0<\/li><\/ul><p><span style=\"font-weight: 400;\">If you increased your marketing efforts this year, you aren\u2019t alone. While this is certainly an exciting trend, it also means marketers need to be smarter about reaching consumers with<\/span><a href=\"https:\/\/zetaglobal.com\/platform\/\"> <span style=\"font-weight: 400;\">highly personalized, cross-channel messaging<\/span><\/a><\/p><h2>The Key Lies in Truly Understanding Your Customers<\/h2><p><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">Brands shouldn&#8217;t solely rely on what customers claim they want to buy or how they intend to spend. To create effective marketing campaigns, they must combine customer preferences with<\/span><a href=\"https:\/\/zetaglobal.com\/platform\/cdp\/\"> <span style=\"font-weight: 400;\">real-time spending data<\/span><\/a><span style=\"font-weight: 400;\">, both online and in-store. This approach paints a more holistic picture and improves the chances of converting target audiences.<\/span><\/p><p><span style=\"font-weight: 400;\">Good news\u2014you\u2019ve got time!\u00a0 We\u2019ve found that nearly 50% of people plan to start shopping in December (a fact<\/span><a href=\"https:\/\/www.cnbc.com\/2023\/11\/28\/black-friday-weekend-shopping-turnout-soars-to-a-record.html\"> <span style=\"font-weight: 400;\">backed up by NRF surveys<\/span><\/a><span style=\"font-weight: 400;\"> conducted post Black Friday), with a quarter saying they won\u2019t start shopping until a week before Christmas. Eleventh-hour scramblers, we see you! This still leaves time to make an impact on your bottom line and convince shoppers to make a purchase with you this holiday season. Unsure how?<\/span><a href=\"https:\/\/zetaglobal.com\/\"> <span style=\"font-weight: 400;\">Request a demo, or learn more about how you can effectively market to your target audience here<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-24d6b34 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"24d6b34\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-36cd922\" data-id=\"36cd922\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-036bc14 elementor-widget elementor-widget-page-end-cta\" data-id=\"036bc14\" data-element_type=\"widget\" data-widget_type=\"page-end-cta.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"page-end-cta page-end-cta--gradient \">\n\t<div class=\"page-end-cta__container container\">\n\t\t<div class=\"page-end-cta__wrapper grid\">\n\t\t\t<div class=\"page-end-cta__content\">\n\t\t\t\t<div class=\"page-end-cta__headline\"><div class=\"page-end-cta__headline\"><p>Want to see Zeta in action?<\/p><\/div><\/div>\n\t\t\t\t<div class=\"page-end-cta__description\">To implement these strategies effectively, brands need the right technology and tools to support their personalization efforts. The Zeta Marketing Platform empowers businesses to offer highly tailored experiences driven by AI.\n<\/div>\n\t\t\t\t<div class=\"page-end-cta__buttons\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"page-end-cta__button button button--default button--white\"   href=\"https:\/\/zetaglobal.com\/platform\/\" target=\"_self\">Zeta Marketing Platform<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\t\t\tclass=\"button button--default button--red button--slide-out-form\"  >Request A Demo<\/button>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Despite gloomy economic predictions, Zeta Data shows average spend and total marketing activity are as strong as ever<\/p>\n","protected":false},"author":16,"featured_media":90453,"menu_order":0,"template":"","tags":[147],"insight-category":[26],"class_list":["post-90448","insight","type-insight","status-publish","has-post-thumbnail","hentry","tag-retail","insight-category-articles","industry-retail","topic-data-and-identity-cdp"],"acf":[],"_translation_status_fr":null,"_translation_status_es":null,"_translation_status_en-gb":null,"_yoast_wpseo_primary_insight-category":"26","_yoast_wpseo_primary_category":null,"_wpml_media_has_media":null,"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Report: Consumer Shopping Trends Data<\/title>\n<meta name=\"description\" content=\"In this report, Zeta analyzes the data around consumer shopping trends to reveal spending behavior around Black Friday and Cyber Monday. 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