Holiday Shopping Attitudes: What Your Business Needs To Know
Knowing what your consumers want–and what they don’t want–is a key ingredient to success during the holiday season. We’ve collected a list of consumer holiday shopping attitudes, so you can make sure your business brings the holiday cheer.
It’s The Most Wonderful Time Of The Year… Especially For Your Business
– The average shopper is expected to spend over $1,100 during the holidays, a 10% increase over the previous year and the highest point for holiday spending since the Great Recession. 1
Consumer Attitudes Towards The Christmas Creep Are Changing
– Six out of 10 Americans (63%) are annoyed or very annoyed when holiday items appear in the store before Halloween—down from 71% in 2014. 2
– Over half of Americans surveyed (55%) are annoyed or very annoyed when stores open on Thanksgiving Day—down from 65% in 2014. 2
– Many Americans are shopping early—more than 1 in 4 Americans (27%) had already started their holiday shopping by Labour Day. 2
Millennials Are A Must
– Early holiday merchandise only bothers half of Millennials (51% vs. 63% of overall respondents). 2
– 60% of Millennials say that special deals on Black Friday and Cyber Monday encourage them to shop. 2
– Millennials love Cyber Monday: more than half (52%) think it is more important than it was 5 years ago. 2
Respecting The Holidays & Time Off Is Important
– 73% said the decision by a retailer to close the store on the actual holiday (i.e. Thanksgiving Day) made them like the retailers more. 2
– 53% said they are more likely to shop with retailers who remain closed on Thanksgiving Day. 2
Different Generations Do Different Things
– 49% of Millennials consider themselves to be impulsive shoppers, a higher proportion than Gen Xers (41%) and Baby Boomers (25%) 2
– Millennials were the least likely to stick to their holiday budgets (36%), compared with Gen Xers (42%) and Baby Boomers (50%) 2
– Gen Xers plan to spend the most this season ($723) compared with the other two groups, and are almost twice as likely to still be carrying debt from their previous holiday shopping (9% vs. 5% for both Millennials and Baby Boomers). 2
– Baby Boomers are the most likely to use a major or retail credit card (55%), and Millennials are the most likely to use cash/non-credit (60%). 2
– The majority of these Millennials (62%) didn’t incur any credit card debt from the 2015 holiday season. 2
Holiday Shopping = Holiday Stress
– 65% aren’t sure whether they’re getting the best deals during the holidays 3
– 64% think all sales held throughout the year are somewhat the same. 3
– 29% of shoppers report feeling stress while doing their holiday shopping. 3
Last-Minute Shoppers Need Your Help!
The weeks leading up to Christmas are the busiest time of the year for shoppers. 38% of people are still shopping for gifts 1-3 days before Christmas, and a further 33% are still shopping in mid-December. These ‘delinquent’ shoppers need help, so offer them easy gift options and product guides to help narrow down their choices.
E-commerce Is Essential
– U.S. e-commerce sales are expected to increase 18 to 21 percent during the 2017 holiday season, driven by increases in mobile commerce and the intensifying online battle between large retailers and digital marketplaces. 4
– E-commerce sales are expected to reach $111 to $114 billion during the 2017 holiday season. 4
– E-commerce’s share of total holiday season sales is expected to hit 11.5%. Additionally, November and December will account for 23.6% of full-year e-commerce sales.
– For the year, retail e-commerce sales will grow 15.8% from 2016, with increases across all product areas. 4
– 80% of shoppers say they are ‘highly likely’ to shop online for holiday gifts 5
– 53% say they will purchase most of their gifts online 5
Free Shipping = Must Have
– 68% said free shipping is EXTREMELY important to their decision to shop online 5
Now that you know about holiday shopping attitudes, check out our Holiday Season Marketing Guide.
1 PricewaterhouseCooper’s 2016 Holiday Outlook
2 The third-annual Holiday Shopping Survey, conducted by omnichannel personalization firm RichRelevance, surveyed 1,000 US shoppers to better understand shopping patterns and behaviours.
3 The “Consumer Holiday Shopping Report” analyzed behaviour and trends among Millennials (those ages 18-34), Gen Xers (35-54) and Baby Boomers (55+). The report is based on a survey of more than 2,000 U.S. adults commissioned by NerdWallet and conducted by Harris Poll.
4 U.S. Holiday Shopping 2017: Shoppers Continue Online Migration for This Year’s Season” from eMarketer
5 Field Agents’ Holiday Shopping Guide