Author: Annette Malave, SVP/Insights, RAB
Holiday shopping is in full swing. According to the National Retail Federation (NRF), over 165 million consumers shopped online from Thanksgiving through Cyber Monday. When it comes to spending, 77% of consumers will spend the same or more this year than last, based on another NRF survey.
With all this news about shopping, we thought it might be interesting to look at the overall buying habits and attitudes of AM/FM radio and streaming listeners.
Broadcast radio listeners and streamers have unique shopping characteristics and they place themselves in various buckets. Based upon GfK MRI 2018 data:
- 34% are Swayable Shopaholics
- 19% are Conscientious Consumers
- 18% are Penny Pinchers
- 17% are Habitualized Havers
- 13% are Buyers of the Best
Listeners enjoy perusing throughout a store and looking for new, interesting products (55%). But there’s a reason for that – 77% like to shop around before making that actual purchase decision.
It doesn’t matter if they are Swayable Shopaholics or Habitualized Havers, broadcast radio listeners and streamers are also cautious and educated buyers. 73% will read product reviews before purchasing a product online. When it comes to how much they will spend, this is where it gets interesting. Nearly three-quarters (73%) see price as a more important factor than a brand name, and 69% believe that quality of the product outweighs the cost.
Like the relationship that listeners have with radio stations and the personalities on those stations, trust is an important factor for brands as well. 74% of listeners will buy a product from a company they trust, even if it is more expensive.
Since it is the season of gifting, there are two additional elements that should be noted. Free shipping is important when looking at the retailer’s website by three-quarters of listeners, and two-thirds like to shower their loved ones with gifts.
Based on these insights, here are some key takeaways:
- Not all broadcast radio listeners and streamers are the same when it comes to shopping. They have unique shopping attitudes.
- Price isn’t everything. Trust and quality are important. Advertisers should consider these key points in their radio ads.
- Free shipping and delivery matters. Most advertisers wouldn’t consider this a big selling point over price when advertising.
- Emotional connections. ‘Tis the season to give and radio listeners don’t just give – they shower their loved ones. References of perfect gifts for loved ones in ads will surely tug at their heart strings.
I’m a Swayable Shopaholic. Which one are you?