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BizReport : Ecommerce archives : November 01, 2018

57% of holiday shopping moving online

Digital merchants should have a happy holiday season. That's the word from Deloitte's 33rd Annual Holiday Survey. Researchers expect just over half of the total holiday spend will be shifted online, with digital retailers and mass merchants' online hubs nearly equally splitting that revenue.

by Kristina Knight

"Respondents indicate they're shopping for a variety of reasons and occasions for themselves and others, and many shoppers remain uncertain about what they'll buy or where they'll buy it. Consumers are making several stops online and in the stores along the way to figure it out. Inspiration and influence are the notes retailers should try to hit this year to stand apart from their competitors," said Rod Sides vice chairman, Deloitte LLP and U.S. retail and distribution leader.

Deloitte's Holiday Survey also found that socializing - holiday parties, office parties, and the like - will account for about 40%, or $611, of consumers' holiday budgets. Meanwhile, about half of consumers will be giving gift certificates and cards (54%) or clothing (53%). As to how shoppers will make purchasing decisions, most (82%) say they'll shop sales and 75% say free shipping will influence their purchases.

"Although the rate of online sales growth is accelerating faster than that of physical stores, retailers should put resources behind both to be relevant," said Sides. "Online convenience is a way of life for most people, but what a person buys is still influenced by what happens in the store. Shoppers also made it clear that promotions matter this time of year: More than 80 percent of consumers note their shopping will be influenced by promotions. The deals are always attractive, but there are a lot of other points of inspiration that can drive the sale."

Meanwhile, data out from Euclid indicates Millennials may be a surprise in-store purchasing push for retailers. Their data shows that Millennials are shopping in-store about 14% more than Gen Xers or Boomers, especially on traditionally big shopping days like Black Friday.

As to the whys of in-store shopping, Euclid's Holiday Shopping Insights found that about 21% of shoppers want to see, touch, or try on products before buying, and that one-third "don't have patience" for shipping.

As to the busiest shopping days, it will likely surprise no merchants that Black Friday and Thanksgiving will top the busy-list for retailers, along with December 26th.

Tags: advertising, Deloitte 2018 Holiday Survey, ecommerce, Euclid Holiday Shopping Insights 2018, loyalty marketing, mobile marketing, retail trends

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