Every year forecasts are calculated to predict how all of the different elements of the economy will impact the busiest shopping time of the year. While positive trends can be encouraging, (year-over-year spending increases, shopping levels exceeding pre-recession norms, etc.) taking a deeper dive into new consumer behaviors, preferences and trends can be even more valuable.
Deloitte recently came out with their 30th Annual Holiday Survey of Consumer Spending Intentions and Trends. Below are a few interesting takeaways about what customers are looking for.
- The most important thing to shoppers is free shipping. 72% of shoppers listed this as their number one priority.
- Price beats speed. 87% of shoppers are more interested in free shipping than fast shipping.
- Consumers still expect free shipping to be fast. 60% of shoppers believe if they place an order by 12/17, they should receive it by Christmas Eve.
- More consumers than ever before are using their smart devices to place orders. 41% are making online mobile purchases. This is a 6% increase from 2014.
- Shoppers are using their smart devices to accomplish more and more objectives. 60% are researching store locations, 55% are comparing prices, and 50% are browsing online.
- 75% of consumers intend to maintain brand and store loyalty. However, the top priority for shoppers looking elsewhere is to find a better price.
These are only a few the telling trends that are guiding consumers this holiday season. This also highlights some of the new and developing challenges retailers are facing. With shoppers focused on free shipping as well as placing orders from a variety of places to a variety of destinations, the importance of freeing up costs and managing operations has never been more important. Barrett Distribution Centers uses technology and experience across a variety of platforms to design customized supply solutions to meet these new challenges. Click here to learn more about fulfillment and logistics services.