Nearly One-Fourth of Shoppers Will Not Enter a Retail Store This Holiday Season
In-store holiday shopping is slowly becoming a thing of the past as more people take to online and mobile shopping. According to a new survey from the Rubicon Project, 22% of customers–and 28% of Millennials–do not plan on shopping in-store at all during the upcoming Christmas season.
Nearly three out of four Americans (73%) plan to shop online, and more than one in three intend to shop on their mobile devices. These online and mobile-only shoppers tend to be Millennial males, and are most likely shopping for gift cards (64%), apparel and accessories (57%), toys (46%) and tech (37%).
The study, which surveyed 1,003 U.S. shoppers, projected that Cyber Monday may soon outsell Black Friday due to this upward trend in online sales. 47% of the survey respondents said they plan to shop on Cyber Monday, compared to 42% on Black Friday. 22% of Americans have already started researching Cyber Monday deals (up from 12% a year ago). Millennials and parents are particularly interested in Cyber Monday. 74% of both groups said they love the annual event.
Americans are also shopping earlier and plan to spend more this year. On average, Americans plan to spend $1,175 this season, which is a 12% increase from last year. Overall spending per child has increased to $495, but people say they are more likely to buy a number of smaller items rather than one big-ticket item. Consumers are more likely to spend money on experiences, including travel, sporting events and shows.
Other key findings include:
- Millennials are gaining financial independence, so they are beginning to spend more as a group. They plan to spend an average of $1,427 this holiday season, a 33% increase from last year. Over half of Millennials (54%) plan to spend more than last year.
- 39% of Millennials have already started shopping, and plan to do most of their shopping online. 76% said they will shop online, and 58% will be shopping from a mobile device. 21% said they will make at least half of their purchases on a mobile device.
- Nearly half of parents (47%) have already started shopping. They plan to spend an average of $1,711 this year, which is up from $1,383 last year.
- 43% of survey respondents said they will be treating themselves this year and plan to spend about $322 on themselves.
- Men plan to spend more than women ($1,360 versus $1,028).
- 66% of parents and 68% of Millennials plan to make a big-ticket purchase.
- Women are more likely to look for deals (73%) or compare prices (84%) than men.