Over 60% of Consumers Say Current Economic Conditions Are Impacting Their Holiday Spending, Fluent Commerce Survey Reveals
Almost Half Will Spend About The Same As They Did In 2021, While 10% Say They Won’t Shop At All This Holiday Season
Fluent Commerce, a leading provider of a cloud-native distributed Order Management System, released the findings of its annual ‘Top Holiday Shopper Trends’ consumer spending research, revealing that current economic conditions are impacting the spending plans of over 60% of shoppers.
The research, carried out among 1,000 adult consumers in North America, tracks spending behaviors and intentions ahead of the holiday season. Among the headline findings, 10% of respondents say they are not going to start their seasonal shopping at all, up from 8% in 2021. In addition, 40% will spend about the same as last year but a third will spend less – the same level as 2021.
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Nearly half (45%) of consumers say they plan a mix of online and in-store shopping, while 1 in 5 will shop purely in store, a reduction compared to the previous year. When choosing to spend with one retailer over another, free delivery is important to three quarters (73%) of online shoppers, with next day delivery ‘very important’ to less than a third (27%) of all respondents.
Looking at product availability, most consumers (67%) said it would damage their view of a brand or store if an item they went to purchase wasn’t in stock having been informed online that it was. Unsurprisingly, three quarters said if a product was sold out, they would go to a competitor site.
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Additional research findings include:
If an online order is delayed 41% say it is likely they won’t shop with that retailer in future.
If an item is out of stock when shopping in a store, 76% said they would purchase the item if a member of staff could find it in another location and get it to them.
Returns to a physical store were important even if something was ordered online. 72% confirmed that point.
“Despite an understandable degree of spending caution among the majority of holiday season shoppers, retailers still need to raise their game and adapt quickly if they are to maximize sales at this crucial time of year,” commented Nicola Kinsella, SVP of global marketing at Fluent Commerce. “Keeping up to date with consumer preferences and shopping trends is vital, but we know many retailers struggle to give shoppers the kind of experience that determines both engagement and loyalty. As the data reveals, failing to take control of their inventory accuracy will simply mean today’s savvy shoppers will go elsewhere.”
