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Shoppers Expected to Spend More this Year Says Deloitte Annual Holiday Survey

red christmas wrapperNEW YORK, Nov 4, 2013/ — Shoppers plan to shell out an average of $421 on holiday gifts this year, up from $386 last year, according to The Holiday Survey commissioned by Deloitte, a leading presence in the retail and distribution industry.

The same survey showed that consumers are expected to buy an average of 12.9 gifts, ending a five-year decline in the number of gifts they plan to purchase.

Another positive sign in holiday shopping: an increase in discretionary and non-gift spending. The amount consumers plan to spend on non-gift items for themselves or their families rose 14 percent from 2012, while spending on home and holiday furnishings jumped 25 percent from last year.

This season, the Internet tops shopping destinations ousting discount stores!

The Internet moved into the top spot among holiday shopping destinations for the first time in its 15 years represented in the survey, bumping discount/value department stores from the No. 1 position. Nearly half (47 percent) of consumers plan to purchase items online, followed by 44 percent at discount/value stores.

When choosing where to shop, consumers are motivated by more than just a bargain, emphasizing factors like convenience and selection. More than three-quarters (76 percent) of consumers cite convenience as a reason for shopping online, followed by price (63 percent).

The omnichannel shopper is most likely to make retailers’ spirits bright. Those who shop a combination of store, Internet and mobile channels plan to spend a total of $1,643 on the holidays, 76 percent higher than those who shop in the store only.

Despite higher spending potential, online shoppers will challenge retailers to be on their game when it comes to product selection and availability. Nearly eight in 10 (77 percent) consumers say that if a product is not available on a store’s website, they will go elsewhere, while only 13 percent would go to that same retailer’s store.

In addition, 45 percent of all respondents indicate they would switch to an entirely different store chain or website if they can’t find the desired item in a retailer’s store.

Free shipping, price matching, extended store hours, in-store pick up on shoppers’ wish lists

Despite greater confidence in the economy’s prospects, improved spending intentions and a focus on convenience, consumers still rank promotions high on their shopping lists. Nearly three-quarters (73 percent) of consumers say their holiday spending will be influenced by coupons or promotional offers.

For more information about Deloitte’s annual holiday survey, including additional statistics, historical data and useful links, please visit http://www.deloitte.com/us/2013HolidaySurvey.

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