Once again, it’s forecasted that annual holiday spending is expected to climb this year. Accenture’s 2013 Holiday Shopping Survey cited that holiday shopping is expected to increase by 11 percent, with consumers spending an average of $646 on gifts. And, while Halloween was less than two weeks ago, consumers aren’t waiting to start checking off their lists. Nearly three-quarters of the respondents to Accenture’s survey have already started their holiday shopping, or at least plan to do the majority of it by the end of this month.
With two of the most popular shopping days just around the corner, retailers should be anticipating a busy holiday season. While the number of people who plan to shop on Black Friday has only increased slightly (55 percent plan to shop, compared to 53 percent in 2012), it appears more shoppers plan to shop online on this traditionally in-store focused day. Respondents reported an uptick in plans to shop with their favorite retailers from the comfort of their own homes on Black Friday (30 percent, in comparison to 25 percent in 2012), as opposed to consumers who plan to wait outside of stores for the doors to open at 5 a.m.
Not only do PCs and laptops make shopping at home easier, but most consumers also have anytime, anywhere access to their favorite retailers with a few clicks on their smartphones or tablets.
Last year, total online retail spending reached $186 billion, and it’s safe to say we can expect to see this number grow this year as well.
Are you prepared for the holiday rush? How will you entice these shoppers with offers and deals this season?