A National Retail Federation and Prosper Insights and Analytics A survey found that consumers plan to spend $ 997.73 during the holiday season – on gifts, holiday items, and other non-gift purchases.
This increase in spending may be an indication of people’s desire to enjoy the vacations as much as possible – instead of being able to travel, and the lack of outings, expenses, and travel for the rest of the year.
49% of shoppers started shopping in November this year – the highest percentage yet to start this early. Last year, just 42% of shoppers started shopping for the holiday season as early as November.
âIn recent years, consumers have expressed a desire to start their holiday shopping earlier and earlier. This year in particular, as retailers promote holiday inventory, they are taking advantage of additional offers such as free shipping, online shopping, in-store pickup, and even expedited shipping for more. ensure they receive their gifts on time, âsaid Phil Rist, Director of Prosper. Vice President of Strategy.
Even with the increase in first-time buyers, Black Friday online sales were down slightly from the previous year. Online sales for the day were $ 8.9 billion this year, down from the $ 9 billion spent in 2020. And customers spent a total of $ 10.7 billion on Cyber Monday.
The influx of early online shopping was driven by concerns about in-store shopping due to the pandemic, uncertainty over the future of COVID, and the supply chain issues we have faced across the country.
Clothing and accessories store sales experienced one of the strongest year-over-year growth, according to the NRF, up 35.3% from a year ago. However, it’s important to keep in mind that last year’s numbers were down significantly, so the comparison is a bit skewed.
Traffic in brick and mortar stores
According to data from RetailNext, physical store traffic increased 61% on Black Friday compared to last year, but of course we know last year’s traffic was heavily impacted by the pandemic and quarantines. . Store traffic figures were still 27% below pandemic levels.
âWhile in-store shopping still did not return to 2019 levels, more shoppers felt comfortable visiting stores in person this Black Friday than in 2020. One factor behind this increase of traffic could be the continuing supply chain challenges and shipping delays â says Brian Field, Senior Director of Global Retail Consulting at Sensormatic Solutions.
Thanksgiving Day traffic to physical stores was down -90.4% from 2019, as many retailers closed on Thanksgiving Day, much like they did in 2020.
Speaking about the rest of the holiday season, Field said, âWith concerns about supply chain delays, we expect consumers to make the most of in-store shopping opportunities. Combined with unified commerce options such as online shopping, in-store pickup, and curbside pickup, consumers can ensure they are shopping for the holiday season when and where it suits them best and that by using fully integrated inventory intelligence, retailers can have confidence in the accuracy of the data. fueling every buying channel.
With Christmas Eve left to do some last-minute in-store purchases or gift card purchases, we’ll soon see how the latest holiday numbers are unleashed in yet another year of uncertainty.