Will Gloomy Holiday Retail Forecast Hit Home Systems Business?
For home security firms and electronic system contractors looking for a holiday sales boost this year, there is troubling news. A national survey conducted for SteelHouse by Synovate eNation shows that 82 percent of shoppers, including families, women and high income earners, expect to change their buying behavior because of the economy. Home security dealers using coupons, marketing via the Web, and making deals may find more business, however.
With 62 percent of shoppers planning to spend less and 50 percent of shoppers determined to comparison shop before completing a purchase, it is more critical than ever for retailers to beat their competitors to the punch and make the right offers to their shoppers in real time. Nearly two-thirds of survey respondents (62 percent) said they’ll spend less overall, and more than four out of five (82 percent) said they will change the way they shop. Half said they'll comparison shop more, nearly one-third said they'll no longer buy without a discount or free shipping, and nearly 30 percent said they'll browse more online than in the malls to find the deals.