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BizReport : Advertising archives : October 31, 2017

Survey: Digital hot for holidays, how marketers can engage

Look for more consumers to head online for the 2017 holiday shopping season; this isn't a new happening. For more than five years, the amount of holiday dollars spent online have increased significantly, and according to the Deloitte Annual Holiday Survey, this year online spending will top the spend of in-store consumers.

by Kristina Knight

Just how much money are we talking about? According to Deloitte's research about one-third of all holiday spending will be gift-centered, with gift cards and clothing items tying for the most-bought slot. On average, households are expected to spend just over $1,200 on the holiday season; those with household incomes over the $100,000 mark are expected to spend just over $2,200 on average.

"The amount people are actually spending on gifts remains steady compared with prior surveys, but we've watched the mix of total holiday spending shift incrementally over the last five years," said Rod Sides, vice chairman, Deloitte LLP and U.S. retail, wholesale and distribution leader. "It's the lure of shopping and the experience that is flourishing and likely to remain in high demand -- all which bodes well for retailers that have created an experience blending one-of-a-kind items, inspiration, uncomplicated navigation and frictionless transactions. Whether a retailer is online or store-based, their digital influence is one of the strongest cards to play this holiday season. Even though 80 percent of people said they expect the majority of their shopping will fall in late November onward, decisions about where they'll shop and what they buy will be largely determined by the digital interactions occurring now. In the survey, we found that retailers have a 75 percent probability of converting a desktop or laptop shopper to a purchaser along with a 59 percent probability of converting a smartphone shopper."

Other interesting findings from the report include:

• Mobile shoppers are most likely to shop online via retailer apps rather than via browsers
• 44% say they'll wait for the holiday season to take advantage of deals for themselves
• 27% plan to gift 'experiences' - like concert tickets - and plan to buy these experiences online

And, researchers believe shoppers will spend about 47% of their holiday budgets online, and 47% in-store.

Tags: 2017 holiday advertising, advertising, Deloitte, ecommerce, mobile commerce, mobile marketing

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