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BizReport : Ecommerce archives : October 25, 2019

Report: Look for more 'experience' buys this holiday season

This year's Christmas season may be filled with experiences rather than boxes in pretty wrapping paper. That is a key takeaway from new Deloitte research which finds that consumers will average nearly $600 on holiday experiences this year.

by Kristina Knight

The overall outlook for the 2019 holiday season may be flat, but at least one area is expected to see a surge in interest and spending. That is a key takeaway from Deloitte's 34th annual holiday survey. According to their report consumers will spend an average of $596 (per household) for holiday experiences - eating out, traveling, parties and the like. That is up from the $511 consumers spent on holiday experiences in 2018.

Overall, households are expected to spend an average of $1,496 this holiday; with the experience average at nearly $600, that means experiences will account for nearly half of the holiday spend - meaning restaurants, airlines, and hotels need to bring their best offers to get consumers interested.

Other interesting findings from the Deloitte report include:

• 78% of shoppers say they'll spend 'the same or more' than they did in 2018
• 85% say free shipping is 'more important' that fast shipping
• On average, households will spend $400 on social activities, 59% will dine out
• 66% are putting specific amounts into 'experience' type events
• 59% say they'll spend 'most' of their holiday budget online
• 81% will shop deals

"Every year respondents tell us that the most important factor is discounts. This year that tops out with not just promotions, but also free shipping. What is most fascinating is that we are also seeing an increase in the number of people who are using their phones not just to research products and discounts, but to ultimately make purchases. In fact, 70% of smartphone users said they will use their phone to make a purchase this holiday season," said Rod Sides, Vice Chairman, Deloitte LLP.

More data from Deloitte's 34th annual holiday survey can be accessed here.

Tags: 2019 holiday trends, Deloitte LLP, ecommerce, ecommerce trends, m:commerce, mobile commerce, mobile marketing

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