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BizReport : Ecommerce : August 05, 2021

Forecast: Bright holiday ahead for retailers

The pandemic may not be completely behind us, but many consumers aren't letting continued restrictions or the threat of future lockdown spoil the upcoming holiday season. That is a key takeaway from new Inmar Intelligence data which finds that about 30% of shoppers plan to spend more than $300 on holiday food, and that nearly half (42%) plan to host holiday gatherings.

by Kristina Knight

Despite plans to host holiday gatherings, about one-third say they won't be traveling over the holidays, themselves. To meet their hosting needs 46% say they'll head in-store to purchase food and party items.

They aren't skimping on gifts, either. Most (60%) report plans to spend at least $400 on gifts his holiday season, and about half say they'll take advantage of Black Friday and Cyber Monday deals to make their holiday dollars go farther.

"Inmar Intelligence's new survey indicates that shoppers are still planning to make their way into the physical store for holiday purchases - not to mention, they will spend more than last year," said Spencer Baird, EVP and President MarTech at Inmar Intelligence. "As shoppers head into the store in the lead up to the holiday season, they will still expect convenience, personalization and availability across all touchpoints, and will look to retailers and brands for inspiration during this time. Inmar's comprehensive marketing technology and insights will enable more meaningful, personalized customer experiences and fully measurable outcomes this holiday season."

More Inmar Intelligence data can be accessed here.

"We are seeing clear signs of a strong and resilient economy," NRF Chief Economist Jack Kleinhenz said. "Incoming data suggests that U.S. economic activity continues to expand rapidly, and we have seen impressive growth. Most indicators point toward an energetic expansion over the upcoming months and through the remainder of the year."

The National Retail Federation suggests that retail sales for the year will surpass the $4.4 trillion mark, that is an increase of at least 10% YoY. Online sales are also going to surge, with at least an 18% YoY increase; by year's end, digital retail is expected to account for at least $1 trillion of total retail sales.

Tags: 2021 holiday shopping forecast, ecommerce, ecommerce trends, holiday retail 2021, Inmar Intelligence, National Retail Federation, retail 2021, retail trends

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