While many shoppers will take to brick & mortar stores to complete their shopping for friends and loved ones this holiday season, an increasing trend will be evident for retailers when it comes to revenue generated from digital spending. Consumer spending will look a tad different this year as overall spending, including digital will increase slightly according to 2015 projections from the NRF. On average, a consumer will spend $805.65 during the holiday season compared to 2014’s $802.45. Half of these figures will be spent on family members while the other half will be spread across significant others and friends.
Since 2011, smartphone use to purchase merchandise digitally will reach its highest utilization with 21.4 percent anticipating to use their mobile device to make a purchase. This includes smartphones and tablets as the main sources for purchases. Out of all the consumers surveyed in the most recent 2015 survey by the NRF, nearly half (46.7%) said shipping/shipping promotions will be an important factor in their decision on where they purchase their goods, regardless if they complete the transaction on their mobile device or at a brick & mortar store. It is certain that consumers this year more than any other year will take advantage of promotions like the buy online pick-up in-store option to save on costs as well as other promotions retailers are running in order to attract customers. Millennials more so than any other generation will take advantage of the retailers’ innovative digital offerings.
Needless to say, mobile devices have been integrated into our daily lives and are becoming a driving force in the behavior of consumers. Retailers are looking to leverage that fact to attract consumers to buy more and more digitally. However, retailers aren’t just looking to mobile devices to complete transactions, they know just over 37% will use their smartphone or tablet to research their products and to look up the closet store within a certain mile range that are open during the most convenient hours. This allows for retailers to gain more traction with buyers by leveraging the digital platform of the retail life cycle in order to spread brand awareness and ultimately more sales.