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BizReport : Ecommerce archives : November 25, 2016

Reports ID holiday shopping trends

New data is out, just in time for the official start to the holiday shopping season. Among the most interesting findings: more people will be shopping online.

by Kristina Knight

First, Vantiv's new ShopTalk Survey found that 1 in 5 people plan to shop in-store on Thanksgiving, and one-third say they'll shop in-store on Black Friday. Millennials, by the way, are more likely than their older counterparts to shop in-store during the holiday season.

"We find it is a generational issue with Retirees and Boomers staying home and Millennials shopping in stores," said Sayid Shabeer, vice president of merchant product at Vantiv. "The reason is over the last few years, shopping at home online has revolutionized holiday shopping. More and more people are choosing to shop online, available 24 hours a day, over the hustle and bustle of shopping malls."

As to where shoppers will be making those holiday purchases, new data from Astound Commerce indicates about half will be buying from Amazon. Their 2016 Holiday Report Infographic indicates that 43% of shoppers will buy nearly half of holiday gifts from Amazon. Millennials will buy buying digitally from mobile devices more often thank desktops, and will buy more products from Amazon than other demographics.

Other interesting findings from the report:

• 75% of holiday shoppers will use Facebook for customer service inquiries
• 59% will turn to YouTube to find video reviews
• 55% of shoppers would rather use tech in-store than interact with employees

Meanwhile, First Insight's data finds that sales and discounts are more important than ever to holiday shoppers. Their research suggests that one-third of shoppers look for discounts of up to 40% off, and that most (61%) believe they'll find the best deals online.

"Retailers feel the pressure during the holidays to provide the best deals to get shoppers through the doors, but this strategy can often do more harm than good," said Greg Petro, CEO of First Insight. "In order to stop the race to the bottom, it's more important than ever for retailers to listen to their customers before making key pricing decisions."

Tags: 2016 holiday shopping trends, Astound Commerce, ecommerce, ecommerce trends, First Insight, m:commerce, mobile marketing, Vantiv

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