Deloitte interacted with 5,038 consumers in the US for its 31st annual holiday survey of consumer spending intentions and trends. It found that the surge in online shopping is likely to impact all major physical shopping environments.
There is likely to be a decrease in the number of consumers planning to visit stores compared to 2015 as merely 59 per cent will visit ‘big box’ stores, 50 per cent will go to traditional malls, 38 per cent will shop at local independent stores and about 24 per cent will visit mini-malls during the holiday season.
The report says that clothing items continue to be top gift items that consumers plan to give during the upcoming festive season. Moreover, there is a rise in their popularity as 50 per cent people are planning on gifting clothing items in 2016, as opposed to 45 per cent in 2014.
The survey also found that respondents will rein in the amount they plan to spend on non-gift items such as clothing for themselves and their families.
About 66 per cent respondents will indulge in webrooming (looking at items online and shopping in stores), while 50 per cent of the survey participants will take part in showrooming (looking for an item in a store and then searching it online). The ‘buy online, pick up in store’ option is also likely to be popular as 43 per cent will opt for it.
“The way people shop online is having a profound impact on holiday spending this year. Retailers must cater to that digital mindset long before someone walks into a store. If retailers treat online and in-store shopping as mutually reinforcing rather than competitive forces, they can create more opportunities across the business,” said Rod Sides, vice chairman, Deloitte LLP and US retail, wholesale and distribution practice leader.
“Customer expectations are being shaped as much by the digital experience as the in-store experience. As a result, retailers should map digital features that matter to the consumer to their brand,” added Sides. (KD)
ALCHEMPro News Desk – India
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