Over half of customers will spend holiday shopping online

The survey was conducted in October as part of the Consumer Confidence Survey

holiday shopping

Over half of customers will spend holiday shopping online. Source: shutterstock.com

The Conference Board has found that consumers are entering this holiday season intending to spend about $673. That is on par with last year’s spending estimate of $675.

In addition, the continued inclination to stay at home will bode well for e-commerce. For instance, 52% of consumers say they plan to make at least half of their purchases online, compared with 42% in 2019.

Consumers are entering the holidays with intentions to spend about the same as last year. That is relatively good news at a time when consumer confidence remains below pre-pandemic levels, unemployment is elevated, and the economy appears to be losing momentum heading into the final stretch of 2020. With COVID-19 cases continuing to rise, retailers should prepare for a surge in online traffic and purchases
Lynn Franco, Senior Director of Economic Indicators at The Conference Board

The report has found that consumers are expecting to purchase fewer gifts at a discount this year. In fact, just 30% say they expect, at a minimum, to purchase half their gifts at a discount, down from 35% last year.

We’ve reported that 80% of female respondents have no idea what they intend to buy or want to receive themselves just 8 weeks before the holiday shopping season begins.

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