Most shopping will be done online, but stores have renewed opportunity to capture holiday spending
CHICAGO, Nov. 07, 2024 (GLOBE NEWSWIRE) — Online shopping is once again proving to be a popular choice for consumers, with 83% of holiday shoppers planning to shop online this year, according to the latest Holiday Purchase Intentions report from Circana™, a leading advisor on the complexity of consumer behavior. However, the report also reveals that fewer consumers plan to exclusively shop online, presenting a renewed opportunity for physical stores.
The survey found that 74% of holiday shoppers plan to shop both online and in-store, while 16% plan to shop exclusively in-store, both increasing slightly from last year’s shopping plans. This shift indicates that consumers are seeking a balance between the convenience of online shopping and the experience of shopping in physical stores.
“Convenience and value are paramount for consumers, creating an interesting dance between e-commerce and physical retail this holiday shopping season,” said Marshal Cohen, chief retail advisor for Circana. “More than ever, holiday shoppers will be utilizing all shopping channels and resources to maximize their spending ability and overall shopping experience.”
The report also highlights the growing importance of online research and price comparison before making a purchase. Nearly one-third of holiday shoppers indicated that they prefer to buy as many gifts as they can online, and just as many said they compare prices online before heading to a store.
The majority of holiday shopping will be done online. Online-only retailers are the top planned holiday shopping destination this year, cited by 77% of consumers. This trend is further supported by the fact that 42% of holiday shoppers are planning to do more online shopping so they can ship directly to family and friends, a significant increase from last year.
Even traditionally in-store promotional events like Black Friday are now a big part of the online trend. Black Friday has ranked as the top shopping day in November for both in-store and online purchases over the past two years, according to Checkout receipt-based sales tracking from Circana. This demonstrates that consumers are increasingly comfortable with online shopping, even during traditionally brick-and-mortar focused events.
“As the peak holiday shopping period approaches, retailers must adapt to the evolving preferences and growing proficiency of consumers,” added Cohen. “A seamless cross-channel experience will be critical for retailers that play in both spaces, and those that don’t need to find ways to counteract the top benefits of their competition or risk losing out on this holiday’s growth opportunities.”
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About Circana
Circana is a leading advisor on the complexity of consumer behavior. Through superior technology, advanced analytics, cross-industry data, and deep expertise, we provide clarity that helps almost 7,000 of the world’s leading brands and retailers take action and unlock business growth. We understand more about the complete consumer, the complete store, and the complete wallet, so our clients can go beyond the data to apply insights, ignite innovation, meet consumer demand, and outpace the competition. Learn more at www.circana.com.
CONTACT: Janine Marshall Circana 1-516-625-2356 janine.marshall@circana.com
