The holiday season is in full swing Shopping behavior Consumers are forecast to decline with in-store purchases. According to research by BlueVenn. More than half of marketers (57%) admit they are concerned that they won’t be able to adjust to changes in shopping behavior this holiday season.
The study shows that 64% of US consumers will dramatically change the way they shop this year. This throws a wrench on predictions and projections that businesses typically rely on during the holiday season.
Marketing professionals unprepared for a change in consumer behavior
This year, those who do not plan to travel to stores and retailers are expected to hit 17%, compared to 8% in 2019. This causes 61% of marketers to fear losing repeat customers to online channels.
Some of the expected changes in shopping behavior are:
- With money tight, only 22% of US consumers plan to spend more this Christmas, while 48% will spend less.
- Only 30% of shoppers spend the same amount as last Christmas. While 22% plan to spend less than last year.
- The percentage of shoppers who want to make more than half of their in-store purchases has dropped more than half, down from 54% to 26% this year.
- More than half (56%) of all US shoppers will purchase their gifts through a mix of in-store and online shopping this year.
- US gift hunters, on the other hand, will be spending 11% more per trip than last year.
What is eating away the holiday shopping spirit?
Stores are expected to be less crowded this year as 72% of US shoppers plan shop less. For 36% of US consumers, they cite safety concerns as the main reason for their absence. With shoppers 55 and over, 38% of those who avoid in-store purchases are most concerned.
Entice customers to buy
US buyers rate price as the most important factor (80%) that could do this create incentives they shop in brick and mortar stores. It is followed by buying in-store in the past (65%). In the US, Flash sales are just above the need for a personalized experience with a margin of just 1%. 59% are looking for flash sales, 58% are looking for a personalized shopping experience. Personalization is more important for the 35-44 age group than any other age group. 64 percent of US buyers in this age group are affected.