On January 7, 2024, Audacy, Inc. announced important actions to bolster its financial and competitive position and enhance the Company’s future growth. For more information, visit the Audacy Restructuring Website.

There’s no place like Audio for the Holiday Sales

By Deepika P Das, Sr. Manager of Research & Insights, Audacy

Are you deep into your holiday shopping? Are you still looking for a better deal?

You think you bought the newest in tech? Or the trendiest in fashion? 

Do you still have some room to squeeze in that last family holiday gift? 

Over the past few years, holiday shopping timelines have blurred. Each year, it seems to have grown longer, more spread out. All thanks to online shopping! In the past 30 days, 

72% shopped online on retailer apps (e.g., eBay, Amazon, etc) 
55% shopped on other online retail websites (e.g., Wayfair, Macy’s, etc)
36% ordered online and then went to pick up from store

What can match the convenience of going through multiple options, product reviews and buying something for your home, all while sitting cozily on your sofa and sipping hot coffee? Nothing, right?

73% say convenient shopping from home, office or anywhere else compels them to shop online.
‘Anytime, anywhere’ is the key!

E-commerce was bound to grow, but it seems like the pandemic spurred the wheels in this direction. 

Between 2020 and 2023, revenue of the e-commerce industry in the US increased by a whopping 51%. And online shopping is not just limited to skin care or clothing. Larger ticket items such as wellness products,  appliances, smart home devices, home improvement products, furniture and even automotive can be in your virtual basket now! 

Wait, shoppers aren’t ready to splurge!

Interestingly though, online shoppers are mindful… of how much they spend and what they buy. They’re looking for more, better and cheaper. 

84% agree to the statement “I am mindful of not spending ‘too much’ online”

While there are many things that sweeten the shopper experience, such as special deals, free shipping, easier price comparisons across sites, etc., consumers tread a fine line. Brand awareness, product quality, big-ticket purchases and security issues seem to bug them the most. 

Consumers like being in lock-step with the latest trends and discovering the newest products, anything that’ll make lives easier and beautiful. But trust plays an important role in compelling them to ‘proceed to purchase’.  

Audio seals the deal with trust:

It is highly trusted as a medium for both discovery as well as more information. Among new trend/ product seekers, 9 in 10 trust Radio and Podcasts.

Many times, shoppers do not end up buying, even after keeping products in the (online) ‘cart’. Audio ads play a significant role in overcoming such shopping hiccups. 

1-in-5 Audio listeners say that Audio ads would help/ influence them in making the purchase decision if they’re contemplating buying something in the next 3 months

Not only do ads help in discovering new brands but also in brand recall. Audiences get useful information about both special deals and discounts as well as product features. Voices on Audio boost consumer trust and highlight items on shopping lists. Audio listeners trust the brands they hear about.

86%

say they spend more on products and services online, if they’ve heard those brands’ radio or podcast ads

81%

say they make repeat purchases after listening to ads on radio stations or podcasts

Audio comes to the rescue when online shoppers are wary and unsure. It is a consumer-approved medium to communicate about both product facts such as detailed information, reviews and opinions, customer service, etc. and emotions like brand trust and affinity.

Want to talk more about reaching your target audience?

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SOURCES

  1. Audacy Retail Anytime Anywhere Study, July 2023, n=1060, M/F 50/50, Adults 18+, Audio listeners
  2. Audacy Discovering the latest Study, January 2023, n=1172, M/F 50/50, Adults 18+, Conducted using AskSuzy online platform; n=92 Audacy listeners, M/F 50/50, Adults 18+
  3. Statista Digital Marketing Insights

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