Holiday shopping surge expected to move into December for this year

According to a recent survey by RetailMeNot and Deloitte, the holiday shopping season is shaping up to be an exciting time for retailers. Here are some key findings that highlight consumer behaviour and preferences this holiday season.

Firstly, it appears that Amazon Prime Day has become a significant shopping event, with 70% of shoppers who participated in the sale purchasing holiday gifts. This trend is expected to continue, as 70% of respondents plan to shop in early December.

The Deloitte holiday report also anticipates a later peak for holiday shopping this year. The late Thanksgiving date, which pushes Cyber Monday into December, could be a factor in this delay. A majority of shoppers (53%) plan their holiday shopping around Cyber Monday.

High spenders, representing 60% of total holiday spending, are those spending more than $2,100. Interestingly, this group tends to be older, with 65% of them older than 40. High spenders also prefer to use their smartphones for holiday shopping, with 62% planning to do so, compared to half of the general population and 45% of low spenders. This year, smartphone use for holiday purchases has increased by 11% since 2017, according to Deloitte.

One concern for consumers this holiday season has been ongoing trade tensions, but the solid jobs landscape and continued upward trend of the stock market may continue to encourage shoppers well into the holiday season. Only 7% of respondents expressed concerns about the economy.

Delivery preferences among shoppers are clear: more than 80% are willing to wait three days or more for order delivery if it means receiving free shipping. A significant number of shoppers (85%) prioritize free shipping over fast shipping, with "fast" defined as delivery within two days. Sixty-eight percent of shoppers who prefer free shipping are willing to wait three to seven days for delivery.

It's worth noting that no specific companies have been identified as focusing particularly on "high spenders" in the Christmas market this year. However, charitable organisations and social initiatives around the holiday season have been highlighted.

On average, shoppers expect to spend an average of $1,496 per household during the holiday season, with $511 allocated for gifts. Shoppers who start their holiday shopping before Thanksgiving spend 25% more than those who start afterward.

In conclusion, the holiday shopping season is expected to be a busy one, with consumers prioritizing free shipping and shopping on their smartphones, particularly high spenders. Retailers who can offer attractive deals and free shipping options, particularly in the early part of December, may find success this holiday season.

Holiday shopping surge expected to move into December for this year