m1nd-set report reveals festive and all-year round gifting as key footfall drivers
The latest monthly insights report from m1nd-set explores the potential of gifting as a footfall driver in airports and other travel retail outlets. The Swiss research agency’s last report of the year highlights how gifting is an important purchase driver, not only in the pre-festive season weeks and months, but also throughout the year. The report reveals both qualitative and quantitative data on global travelers’ gift shopping behaviour, demonstrating how this purchase driver can lead to cross-category sales across all cultures, creeds and seasons. The report focuses not only on the Christmas seasonal shopping behaviour but also touches on other religious and cultural festivals, which are typical gift-giving moments, as a means for sales associates to engage with shop visitors and increase conversion.
The report reveals that gifting is the number one purchase driver globally and reveals how this varies from region to region. Gifting has increased across all seasons over the past 12 months according to m1nd-set with the past quarter, from September to November, accounting for the highest share of gift purchasing as a percentage of all purchases.
According to m1nd-set, “looking for a gift” is globally the third most common reason to visit the airport shops. Particularly, gift shopping is the main reason for browsing the duty free shops for travelers from the Middle East and Africa region. Electronics, souvenirs and confectionery are the top three categories for gift shopping in airports the report reveals. Additionally, gifting is more common among male shoppers than female shoppers. However, there are very few differences across age groups.
Peter Mohn, m1nd-set owner & CEO, says: “It is worth noting that ‘gifting for good’ is a growing trend. Between 55% and 73% of consumers (depending on variables such as age group, nationality etc.) are willing to pay a premium for goods where the sales proceeds will benefit a social or environmental cause. Younger women in particular have a greater tendency to support brands with a philanthropic cause. Gifting lends itself in particular to social shopping as consumers are more open to brands with a story; the social cause linked to the product enhances the shoppingexperience and enables the giver to make more of an impact with the gift purchase and pass on the story to the recipient.”
Understanding purchase drivers is essential to securing the sale and increasing average spend among shoppers. Sales associates need to learn more about the reasons why travelers enter the store to enable them to make the sale and increase the average transaction value through upselling and cross-category sales. While time of year is clearly a key factor, there are many reasons for gift shopping on the daily.