The gift: Google has added new features for merchants just in time for the holiday season.
All purpose: This suite complements the features Google has available to merchants, like the Performance Planner tool, which produces campaign forecasts and simulations, or Smart Bidding, which uses machine learning to increase sales or profits.
Wrapping it up: A majority of US consumers (61%) begin their product research on Google (per an April Morgan Stanley survey), but fewer use it to compare prices or find the exact product they intend to purchase. Merchants already know about Google’s discovery power, but these tools could help them put the right information in front of the right customer at the right time, hopefully making a purchase not far behind.
Making a list, checking it twice: The busiest season is just around the corner, and retailers aren’t the only ones getting ready. More than a third (36%) of consumers have ideas for what they’re going to buy this holiday season, but 55% hold off on buying until items are on sale. Price isn’t the only thing worrying shoppers: 3 in 10 are buying products they don’t need right away out of concern for out-of-stocks.
This was originally featured in in the Retail By the Numbers newsletter. For more retail insights, statistics, and trends, subscribe here.