The upcoming holiday season is expected to see a surge in shopping activity, with a projected 183.4 million people in the U.S. planning to shop from Thanksgiving through Cyber Monday. Black Friday alone is anticipated to attract 131.7 million shoppers, according to data from the National Retail Federation and Prosper Insights & Analytics. To understand where, how, and why consumers are spending their money, Shopify conducted a holiday retail survey examining trends for the season based on responses from 2,000 U.S. consumers and 16,000 from other countries.
Key insights from the survey show that young adults aged 25-34 are planning to increase their Black Friday spending this year, with 28% intending to spend more and 55% aiming to finish their shopping by the end of November. While some shoppers plan to do most of their holiday shopping between October and December, others start as early as June. Free shipping emerged as a significant factor influencing consumer decisions, with 47% of respondents stating it would sway their choices, surpassing the impact of a great customer experience or loyalty programs.
Furthermore, the survey revealed that a significant portion of shoppers prioritize sustainability and supporting independent brands, with 26% planning to shop more sustainably and 22% looking to buy from independent businesses. Different age groups showed varying behaviors, with 35-44 year-olds displaying clear brand preferences and younger shoppers relying more on social media recommendations.
Overall, the report highlighted a hybrid shopping approach among consumers, with many shopping for small items online and larger ones in-store. Younger shoppers are also showing a preference for in-store product discovery, indicating a shift in shopping habits. Social media continues to play a crucial role in influencing purchasing decisions, with 55% of shoppers actively engaging on platforms like Instagram and TikTok.
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