A Holiday Dozen
As we head deeper into the crucial Holiday retail season, here are 12 facts and figures to keep in mind.
A Holiday Dozen
As we head deeper into the crucial Holiday retail season, here are 12 facts and figures to keep in mind.
1. Shoppers Appear to Be Trading Up.
More than 50 percent of surveyed consumers expect to trade up to better quality products this year. (Coresight Research)
2. 41 percent of shoppers are “very likely” to purchase new shoes for themselves or as gifts
With aged 18-29 and 30-39 consumers “very likely” to buy footwear. Consumers in the West (51%) and South (47%) are most likely to purchase new shoes, followed by the Northeast (32%) and Midwest (24%). (FDRA 2020 Holiday Shoe Sales Survey)
3. Contactless shopping experiences are in demand
With 73 percent of consumers planning to have items delivered versus 62 percent in 2019. Curbside pick-up is preferred by 27% vs. 11% in 2019. (Deloitte)
4. 43 percent of shoppers are most likely to purchase casual shoes during the holiday season
versus 36 percent for athletic shoes and 20 percent for fashion/dress shoes or boots. (FDRA)
5. 74 percent
Of U.S. consumers will spend money on clothing, accessories and footwear while Holiday shopping, for an average spend of $253. (Deloitte)
6. An estimated 71 percent of holiday season shoe buyers plan to make their purchases online
Versus 29 percent who will shop in-store or pick-up at curbside. But only 52 percent of consumers were avoiding malls/shopping centers in mid-October, the lowest level since July. (FDRA, Coresight)
7. 5.2 is the projected number of physical store visits
By U.S. consumers this holiday season, down from 7 in 2019. (Deloitte)
8. U.S. consumer confidence dipped to 100.3 in October as early shopping kicked in
Down from 101.3 in September and slightly bigger than Wall Street expected. (The Conference Board)
9. Shoppers expect to spend $1,387 per household this Holiday season
Down 7 percent year-over-year with 38 percent planning to spend less this year due to concerns around economic stability. (Deloitte Holiday Retail Survey, Oct. 2020)
10. Holiday spending on gifts is predicted to decline
1.37 percent year-over-year to approximately $650. (National Retail Federation’s Annual 2020 Holiday Survey)
11. Ecommerce sales will grow 25 percent
With 91 percent of U.S. adults spending in-store and online at retailers with a brick-and-mortar presence. But 66 percent of respondents said they are more likely to visit stores that have strict precautions in place. (Intl. Council of Shopping Centers, Holiday Shopping Intentions Survey)
12. An estimated 69 percent of consumers prefer shopping at stores close to their home
65 percent prefer shopping online; and 49 percent of consumers say they will return to pre-COVID-19 shopping behaviors after a vaccine is developed. (Deloitte)