While economic uncertainty remains top of mind, we’ve seen growing evidence that consumers’ consideration sets are expanding as people continue to assess the right buying choices amid rising costs. In the first half of the year, 43% of consumers around the world said they like to keep an eye out for new brands even if they are not planning to buy right then.¹ Shoppers have now become even more intentional about the items they purchase and are using online sources more to help plan ahead for key shopping moments. This year, 24% of consumers in surveyed markets have already started their holiday shopping² and as early as August, Google searches for “black friday” grew globally by over 30% YoY.³ This buyer enthusiasm means retailers have the chance to attract savvy shoppers early and set consumers up well for the key shopping seasons like holiday.
