Dive Brief:
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Consumers will shop multiple retailers to find the best holiday season prices, and the majority will check Amazon before they go anywhere else, according to consulting firm Accenture’s annual holiday shopping survey.
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While 44% percent of those surveyed said they plan to spend more this year, holiday shoppers simply expect deals: 42% said they rarely or never expect to pay full price for an item during the holiday season and 72% will gravitate to retailers offering promotions or coupons at stores they haven’t even gone to in the past year, Accenture notes.
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Meanwhile, physical retailers and online retailers will be helping each other out whether they like it or not: 81% of holiday shoppers plan to webroom (i.e., research online before heading to a store) or showroom (check out items in store before buying online).
Dive Insight:
Considering the scramble by retailers to hold holiday sales — Black Friday sales, Cyber Monday sales, Thanksgiving Day pre-Black Friday sales, even sales starting in October and others enticing last-minute shoppers in December — it’s no wonder that shoppers expect to get a deal this time of year.
With consumer confidence more solid than it has been in a long time and consumer spending up as a result, retailers should find their customers willing to spend more. But shoppers are going to be careful, investing time and effort in finding the best price. And Amazon, with its superior search capabilities and huge assortment, is often the first place they start their research.
Omnichannel options could help combat that though, and even garner sales beyond what customers originally look for online: Accenture also found that 71% of shoppers who plan to use a buy online/pick-up in-store option said they’re likely to buy additional items that were not part of their original purchase plans.
“The good news is that U.S. consumers plan to spend more and are increasingly willing to share personal information to receive offers – but they remain focused on frugal bargain hunting,” Jill Standish, senior managing director of retail at Accenture, said in a statement. “The clear opportunity for retailers is to learn all they can about their customers and use these insights to provide the personalized and timely deals consumers are seeking. By optimizing inventory and marketing, they can increase the profitability of each customer visit to their store or website and maximize each click.”
Shipping costs are a major deterrent to online ordering, with 62% saying shipping costs as the main thing keeping them from buying online, while long lines keep shoppers from buying more in stores, according to Accenture. Many are open to sharing personal information and shopping preferences with retailers in order to receive personalized offers, the survey also found.
For this year’s survey, Accenture queried a representative sample of 1,500 U.S. consumers online in September 2016.
This story is part of our ongoing coverage of the 2016 holiday shopping season. You can browse our holiday page for more stories.