Holiday Trends

Now that Halloween is over, the holiday season is underway and building momentum as many begin to prepare their gift lists. Consumers are at the ready to spend millions this holiday season. As they open their wallets to take advantage of the deals and spread holiday cheer, it is important for retailers to recognize the consumer shopping trends ruling the season of spending.

With a $630 billion season ahead, retailers are preparing their holiday season marketing plans. According to the National Retail Federation’s Holiday Consumer Spending Survey conducted by Prosper Insights and Analytics, consumers celebrating Christmas, Hanukkah and/or Kwanzaa will spend an average of $805.65 on food items, decorations, gifts and more over the holiday season. This is the highest amount seen in the survey’s 14-year history. Spending on gifts for family members will total $462.95, up from $458.75 last year and also a survey high.

Holiday shoppers are looking for options that save them money and time but still provide plenty of value. Many consumers will take advantage of the deals and discounts during the holidays on merchandise that has little or no connection with the season. For example, many consumers will be spending on new clothing for themselves or for their kids as well as updates for their home. Retailers should utilize this trend in personal spending by ensuring gift items as well as personal items are discounted.

This season, approximately 46 percent of holiday shopping will take place online. With this in mind, retailers should place these omnichannel offerings upfront both online and in stores. Mobile is the fastest growing channel for holiday shoppers, especially for browsing and buying. Additionally, 47 percent of holiday shoppers ranked free shipping and shipping promotions in the NRF survey as a key factor in deciding where to do their shopping during the holiday season. ‘Tis the season to be spending. Retailers are preparing for the 2015 holiday shopper with discounts and digital as a focus.