Insights the key to the merriest Christmas for FMCG suppliers
New research suggesting that despite political and economic uncertainty Britons will spend more than their contemporaries in any other European country this Christmas – an average of £567 per person – represents an opportunity for FMCG suppliers and retailers that have made the most effective use of insights into shopper attitudes towards the Festive Season.
Research from Deloitte reported that each UK shopper plans to spend £299 on presents, £143 on food and drink, £63 on going out and £62 on travel. This compares with a European average of £409. According to Deloitte, which surveyed of 800 UK consumers and 6,400 across Europe, a third of UK shoppers plan to buy most of their presents in November, whilst three fifths said they preferred to shop for Christmas presents in stores rather than online.
Leveraging this information, alongside more detailed insights into shopper attitudes, behaviour and missions, is critical to which brands and retailers emerge most successfully from the Christmas period, explains John Nevens, Joint Managing Director of FMCG and retail specialist, Bridgethorne.
“Everyone knows that Christmas is the major opportunity in the calendar for brands and retailers to enjoy an economic boost,” says Nevens. “Those in the best position to exploit it will be those who have put the work in in advance to ensure that detailed behavioural insights have informed their particular seasonal marketing and promotional activity.”
Kantar figures show that £17 million has already been spent on mince pies and £3 million on Christmas puddings so far this year. It further reports that the average household is expected to spend more than £380 on groceries during December and that, in total, shoppers will spend nearly £11 billion in December alone.
“There is still a great deal of opportunity around Christmas grocery shopping; adding themed products to your basket at the last minute for your own celebrations,” continues Nevens. “Brands that understand the shopper’s thought process most clearly and the influence placed on them by others in their households, are the ones that can most effectively structure their activity to align with it.”
Understanding both the product & the shopper journeys is more important than ever. By using insights on real shopper behaviour to inform a supplier’s shopper marketing strategy both online and in-store, Bridgethorne works with suppliers to identify the right mechanics that are going to resonate with those shoppers as part of any activation plan.