The 2016 Holiday season is right around the corner, so we analyzed the top consumer shopping trends to help you stay on top of the game. This holiday season is expected to exceed last year’s, and be the biggest shopping season yet, with many factors playing a part in the booming business. Some of the most significant shopping trends for the 2016 holiday season include:
Online and Mobile Shopping Are On The Rise
With holiday shopping available at the click of a button, we are seeing more people making holiday purchases than ever. 93% of all U.S. consumers plan on making a holiday purchase this season.
People Are Spending More Money
This November and December, holiday spending is expected to reach $692 billion. The economy is stabilizing, and people are willing to spend more of their dollars on holiday gifts for both others and themselves. 41% of consumers plan on spending more money on gifts than they did last year, adding up to the $10 billion dollar increase in total sales from last year.
People Are Shopping Across Multiple Devices
The online world is expanding, and one device is just not enough for shoppers. That’s why so many consumers are using different devices throughout the purchase path.
Understanding the Consumer Shopping Journey across Devices
Shoppers are beginning preliminary research on their desktops and sometimes on their mobiles. During these early stages, consumers have the time to leisurely shop and browse at their own pace. Once they are shopping in-store, they are turning to their mobiles to compare prices and look up reviews on specific products. People are ultimately completing online purchases on their desktops, because they feel more secure making large-ticket purchases on their desktops rather than mobile. Read more on cross-device targeting.
The 2016 Shopping Season is Longer than Ever
The majority of retailers are starting promotions as early as September, and are extending sales into the new year. Because of this extended season, and sales continuing throughout the months, the emphasis on major shopping days like Black Friday and Cyber Monday are starting to lessen.
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Mintel, 2016; eMarketer, 2016.