One-Fifth of Consumers Definitely Plan to Shop on Black Friday, According to the Second Annual PeriscopeIQ Retail Intelligence

 One-Fifth of Consumers Definitely Plan to Shop on Black Friday, According to
           the Second Annual PeriscopeIQ Retail Intelligence Survey

Consumers Indicate a Lackluster Holiday Season vs. 2011, Spending Less, Giving
Fewer Gifts While Pre-Shopping More and Leveraging Online and Mobile Cost

PR Newswire

PHILADELPHIA, Nov. 15, 2012

PHILADELPHIA, Nov. 15, 2012 /PRNewswire/ --Despite the hype surrounding the
"Black Friday" shopping day after Thanksgiving, one-fifth (20 percent),
definitely plan to hit the stores that day, according to the second annual
PeriscopeIQ Retail Intelligence Survey.

Additionally, consumers nationwide report that they will spend less on holiday
shopping this year in overall expenditures, in amount spent per gift, and with
fewer gifts given, indicating weaker holiday sales.

The bad news is that, even prior to Hurricane Sandy, nearly a quarter (24
percent) plan to spend less on holiday shopping this year. Nearly
three-fifths (58 percent) say they will spend the same overall and only 14
percent say they will increase holiday spending from 2011 levels. Moreover,
the "Grinches" (17 percent) plan to purchase fewer gifts than last year while
more than a fifth (22 percent), are planning on reducing their expenditures
per gift.

"Even before the disastrous hurricane, the PeriscopeIQ Retail Intelligence
Survey results suggested a weak holiday season, resulting in a one-two punch
for retailers who are already dealing with margin erosion due to showrooming,
price matching and pre-shopping with mobile and online technologies," explains
Dr. Pawan Singh, CEO and Chief Scientist at PeriscopeIQ.

"With more than half of our respondents equipped with Smartphones, the
multi-channel world is a boon to holiday shoppers, but it can also be an
advantage to retailers who address physical, mobile and online customer
experiences with equal diligence. However, retailers will have to start
pricing more aggressively earlier to bring storm- impacted shoppers back to
stores in the Mid-Atlantic region."

PeriscopeIQ, a customer intelligence firm, conducts the representative survey
of 1,000 U.S. consumers age 18 and older annually on behalf of its major
retail clients. Among the noteworthy findings in this year's poll:

QR-Code Red!

While retailers and marketers are printing QR codes on ads, point-of-sale
items and price tags, the PeriscopeIQ study revealed that nearly three-fifths
(59 percent) of shoppers don't know what they are or what they do. Further,
less than a fifth, 18 percent, said they had ever used one in a retail
environment, although 60 percent own Smartphones with built-in scanners or

"QR codes haven't lived up to their potential as a way to access coupons or
provide suitable product information, in part due to lack of understanding or
because the experience is unsatisfactory," explains Mohamed Latib, COO of
PeriscopeIQ. "We believe that QR codes will continue to evolve but the actual
2D code will be transformed by a newer, more efficient technology in the near


As many as 40 percent of those polled are shopping online at work during the
holidays and year-round. The PeriscopeIQ Survey found that over a quarter of
those polled shop more than 15 minutes daily. Half of respondents ages 18-34
spend as much as 20 minutes daily shopping online.

It's the Gas

In line with gift consciousness, 40 percent say that current gas pricing will
impact how far they will drive for a bargain. Gasoline availability can also
be expected to affect the holiday shopping of consumers impacted by Hurricane

Free Shipping

Virtually all respondents (95 percent) stated that "free shipping" is an
important factor in deciding from which websites to make their purchases.
"While the number of online shoppers in the survey is about even from last
year, bricks and mortar retailers will need to continue to maintain this
feature in their arsenals," Dr. Singh explained.

Black Friday More Blue

Despite the hoopla about shopping on "Black Friday," only a little more than a
third (38 percent) will "definitely" or "probably" shop, while 60 percent
won't bother battling crowds the day after Thanksgiving.

Smartphones and Smarter Shoppers

According to the survey, consumers are becoming savvy shoppers, with more than
two-fifths (41 percent) pre-shopping online vs. only 27 percent doing so last

Using their Smartphones inside stores, some, but not a huge number, are
leveraging their devices to the frustration of retailers. For example, 33
percent check prices at other stores or at websites. A similar number (36
percent) are using their phones to take pictures of merchandise, presumably
for feedback from friends or family, or for comparison shopping.

Fewer than five percent of respondents claim to use mobile wallets
likeGoogleWallet or Passbook.

"Like" it or Not

Another issue is consumer use of online reviews. Only 24 percent said they go
online for reviews of products and services while shopping at a store. "This
indicates that, while consumers rely somewhat on the Internet for information,
if only a minority consult reviews while shopping, many buyers aren't getting
the full picture on positive and negative aspects of their purchases," Dr.
Singh explained.

Black, White and Read

Lastly, while much of the PeriscopeIQ survey focuses on electronic shopping
and innovative retail technologies, an interesting finding is that when it
comes to product information, sales and other shopping information, nearly
three-fifths (58 percent) still rely on print magazines and newspapers. This
is more than twice the number who look at online reviews while shopping.

Survey Methodology 

The PeriscopeIQ 2012 Retail Intelligence Survey measured anticipated holiday
shopping activity and also has detailed information on year-round online
purchasing habits and the ways in which Americans use social media,
Smartphones and other mobile devices when shopping.

The sample was randomly selected from a voluntary online consumer panel and
was designed to be representative of the entire U.S. population of adults age
18 and older. With, according to Pew Internet Tracking, 85 percent of adults
now online, the online audience differs very little from the total adult
population. Survey responses from 49 states were adjusted slightly to match
national demographic data on gender, age and income tofurther strengthen the
validity of results.

The statistical margin of error for a conventionally fielded random digit dial
telephone survey of the same size is plus or minus 3.5 percentage points.

Pawan Singh, Ph.D., PeriscopeIQ CEO and Chief Scientistand James P. Murphy,
Ph.D., director of research, jointly managed the survey.

About PeriscopeIQ™

PeriscopeIQ is a provider of advanced web-based solutions that transform
customer experience and employee feedback into actionable insight through its
powerful on-demand analytical engine and fully customizable Voice of the
Customer (VOC) and Voice of the Employee (VOE) solutions. Applying science
and strategy, PeriscopeIQ uncovers customer and employee insights via a
flexible delivery model. The company also partners with leading enterprises
and associations to combine predictive analytics and time-tested business
insights to deliver proprietary solutions with unparalleled analytical
reporting capabilities. The PeriscopeIQ platform and methodology have been
adopted by Fortune 500 companies and global organizations, including: Boston
Scientific, Halliburton, Kohl's, Project Management Institute, Seagate
Technology, Unilever, The Wharton School, The World Bank, and The World Health
Organization. Founded in 1999, PeriscopeIQ is a privately held company
headquartered in Coopersburg, Pa. For more information, visit

Contact: Andrew Lavin
         A. Lavin Communications

SOURCE PeriscopeIQ

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