According to a recent study by OpenX and The Harris Poll, the upcoming holiday season is poised to see a dramatic shift in shopping habits among American consumers. For the first time in history, online shopping is expected to surpass in-store purchases, indicating a major change in the way people shop during this festive time of year. This trend is largely driven by the increasing popularity of mobile shopping, especially among millennials.
The survey revealed that a majority of shoppers are planning to spend more on digital platforms rather than in physical stores this holiday season. Mobile shopping is projected to play a significant role in this shift, with a substantial portion of holiday spending expected to be conducted through mobile devices. Millennials, in particular, are leading the charge in mobile shopping, with a majority of them expressing their intention to use smartphones for their holiday purchases, outpacing the use of desktops or laptops.
Interestingly, the study also found that high-income consumers, particularly baby boomers, are less likely to shop in brick-and-mortar stores. Millennials, on the other hand, are expected to increase their holiday spending significantly compared to last year, indicating strong consumer confidence and a willingness to splurge during the festive season.
Retailers are advised to focus on providing consumers with choice and convenience, moving away from traditional advertising methods to cater to the evolving shopping preferences of modern consumers. With the rise of streaming services and the trend of shopping at unconventional hours, retailers must adapt their marketing strategies to effectively reach their target audience.
In light of these findings, retailers need to be flexible and agile in adjusting their strategies to align with the changing behavior of consumers. The holiday season presents a golden opportunity for retailers who can adapt and innovate to meet the demands of modern shoppers. By embracing personalized, people-based marketing strategies, retailers can ensure success during the holiday season and beyond.
Sources:
1. OpenX
2. The Harris Poll
