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MARKET WATCH
It’s no secret that social media has been the digital buzzword for the last couple of years. This year, about 17 percent U.S. consumers will take advantage of this trend when shopping for the season. The users skew young. A majority (52 percent) are between the ages of 18 and 29, while a strong 33 percent came from the 30 to 44 age range.
Despite consumers reporting a more positive outlook for 2010, holiday spending will decrease this year as gift buyers seek to save dollars. Over half will use social media to find discounts on gifts (60 percent) and research ideas (53 percent). Viewing and updating wish lists on sites such as Amazon.com was also a popular activity (52 percent).
The opinions of their peers have become increasingly important to consumers. About 39 percent put stock in consumer-generated reviews when considering stores or products and 25 percent say they were likely to make purchases based on online reviews.
Unsurprisingly, another hot emerging trend comes by way of mobile phones. About 19 percent of the users will be using their mobile devices to research gift ideas, store locations, coupons, sales and prices. The ease and convenience of mobile devices, combined with their growing capabilities, makes it certain that this trend will continue to gain popularity.
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Please complete our contact form, send an e-mail to or give us a call at +1 212-426-1700.
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