This year, online holiday spending is expected to overtake in-store spending for the first time ever, according to Deloitte.
Consumers are projected to gravitate towards digital experiences for convenience, selection and immediacy, but the physical store will still play an important role for more interactive, engaging experiences.
To understand how consumers are going to shop during this year’s holiday season, Astound Commerce Insights surveyed 1000 consumers from the United States and 1000 consumers from Europe who own a smartphone and shop online at least four times per year spending $250 or more.
“Competing For Customers During the Holidays and Beyond” found that the customer experience coupled with strong service will be important factors in retailer selection this season, but savings trumps all of the above, reads a report summary emailed to MMW.
“Our study revealed that every channel has a role to play this season. Brands and retailers have to make sure they can get products to consumers when they want them and how they want them, as efficiency is top of mind for shoppers,” says Lauren Freedman, SVP of Digital Strategy, Astound Commerce. “They also need to figure out how to keep people coming back and away from Amazon, as not surprisingly our research found that the company will play a huge role this year in holiday shopping.”
According to the data collected, price and free Shipping are the top purchase drivers.
Price is the top consideration for consumers when selecting a retailer. In projecting behavior for the holidays relative to current patterns, over 50 percent will increase their behavior when it comes to shopping early for price promotions, looking for coupons and discounts, and gravitating towards free shipping, as they focus squarely on price.
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