According to a New Oracle Retail Survey, Consumers Set to Dish on Holiday Shopping Plans
While the pandemic has caused a surge in online shopping, a new Oracle Retail survey shows that many customers are ready to venture back into stores this holiday season. Nearly 20% of shoppers surveyed plan to do most of their shopping in-store with 47% planning to split purchases between online and brick-and-mortar shops. Still another 16% plan to make it as close as the parking lot, opting to retrieve orders curbside. And, despite the challenging year, 58% of consumers expect to spend the same or more on holiday shopping than they did last year.
Customers don’t, however, want to deal with the hassle of returns. While last year, 77% of consumers planned to make at least one return, this year that number dropped to 38%.
“The holidays promise to test a retailer’s ability to serve customers how and where they want to shop,” said Mike Webster, senior vice president and general manager, Oracle Retail. “With customers shopping both online and in-store, and taking advantage of new retrieval options such as curbside pick-up and ‘buy online pick up in-store,’ retailers are going to have to be firing on all cylinders to meet customer expectations in an already difficult environment.”
The survey polled 5,143 consumers in the United States, United Kingdom, Australia, China, Brazil, Mexico, Italy, France, Germany and the United Arab Emirates in September 2020 about their COVID-19 shopping habits and plans for holiday shopping.
Holiday gift list
With travel limited and a desire to avoid returns, it was no surprise to see gift cards as a top holiday gift this year. Here is what consumers said they plan to spend more on this year:
- 39% – of shoppers plan to spend more on apparel and necessities
- 29% – electronics
- 27% – gift cards
- 19% – sporting goods/hobbies
- 15% – luxury items (handbags, fashion, and jewelry)
“With more consumers avoiding returns, redeeming gift cards will be the next big opportunity for retailers to engage customers and extend sales post-holiday,” noted Webster.
Out of stock, out of luck
A lack of inventory will be the fastest way for retailers to end up on this year’s naughty list.
- 47% of respondents said out-of-stock merchandise topped their list for a bad shopping experience
- 63% said they weren’t willing to wait for an item to be back in stock before trying another brand
“In the pandemic, many retailers’ in-store stock was depleted or completely sold out,” added Webster. “During the holidays it will be critical for retailers to fill the shelves and use their physical locations both to serve shoppers and as fulfillment centers to handle online orders and get shipments out to customers quickly.”