In light of yesterday’s news from Nielsen’s Consumer Confidence index, showing Britain ranking second in Europe in terms of consumer satisfaction, industry experts believe the opportunity for brands is rife.
As the UK (99) trails just behind Denmark (112) in terms of consumer confidence, the time is right for retailers and marketers to take advantage of the nation’s changing shopping habits, says Dan Cohen, regional director at affiliate network Tradedoubler.
“With purchasing set to rise this year, brands and advertisers need to be reaching customers where they are, which is now on a range of and even multiple devices at different times and stages of the purchase cycle,” he tells PerformanceIN.
Reaching people at the right time
Cohen says that brands and advertisers need to be talking to customers on ‘a range of, and even multiple devices’ at different times and stages of the path to sale.
“When looking at the purchase journey, 50% of consumers are now using their mobile devices to start the search process, and 46% used mobile exclusively when performing research online, according to Telmetrics.”
Tradedoubler’s own research also shows that nearly half (47%) of respondents turn to their smartphone to compare prices, while 29% of these will go on to buy.
“With consumer confidence in Britain soaring, there has never been a better time to optimise your consumer facing properties and marketing channels, not only to reach customers but to track their route to purchase and prevent lost sales”, adds Cohen.
Nielsen’s survey also found consumer confidence to be on the rise in 27 of 60 markets measured (45%).
Scoring 131, India ranked the highest amongst 60 nations surveyed, followed by the Philippines (122), Indonesia (120) and Denmark (112).
Greece showed the biggest quarterly decline, falling 12 points from Q1, while South Korea reported the lowest rate of consumer confidence on 45.