2019 Holiday Shopping Trends

Every year companies are required to shift their efforts to target the ever-changing consumer trends to achieve a successful holiday shopping season. The Deloitte Insights Consumer Industry Center conducted cutting edge research in their Deloitte 2019 Holiday Retail Survey to best determine where companies should focus their energy to achieve superior business results. Smart Warehousing has constructed a consumer profile to help make this year’s shopping season one for the books. 1.) Steady Consumer Spend This year, consumers are predicted to spend $1,496 per household. Projected consumer holiday spend has had a 5.4% compound annual growth rate since 2012. Consumers are anticipating spending the same, if not more, than last year, yet their outlook on their future household finances have dropped 13% from 2018. 2.) Price, Product & Convenience Consumers continue to make price a prime deciding factor while holiday shopping, but product quality and variety rank even higher. As competition increases with product deals and assortment, convenience rises as a prime differentiating factor, especially in online stores. 3.) Free Holiday Shipping With the growing rise in online shopping, we are all aware of consumer’s shipping expectations, but which do they value more – fast or free shipping? Deloitte found that 85% of consumers prefer free shipping over fast shipping. Of that, 80% of shoppers who prefer free shipping are willing to wait three or more days to receive their order, while half of shoppers intend to use the buy-online-pick-up-in-store option.   4.) Increase in Experiences Holiday spend over the last five years has seen an increase in “experiences” over gifts and total other spend. These experiences include travel, dining