Holiday Shopping Trends for 2016
Love it or hate it, the holiday shopping season is here. It’s time to forget the turkey and string up the tinsel. As chaotic as the season is for shoppers, retailers are really the ones scrambling to make sure everyone’s got something in their stocking. Here are some 2016 shopping trends.
Qualtrics surveyed 1,150 shoppers in the US, Australia, and the UK to uncover some timely tidbits about what makes their shopping season tick. For an infographic view, click here.
Ten Holiday Shopping Trends for 2016
- Apple’s elves will be logging lots of overtime this season as the iPhone 7 is the top wished-for tech gift. But what’s wished for and what’s under the tree can be very different as most shoppers plan to give clothing and toys/games.
- Men are 40% more likely than women to shop for gifts in late December which will come as no surprise to anyone who ever awoke to find a gas station refill mug from dad under the tree.
- Analysts are predicting 2016 holiday sales to exceed $1 trillion. That’s an impressive total as it’s comprised of billions of individual transactions as 78% of consumers plan to spend less than $1,000 on gifts this holiday season.
- Shoppers are adopting a Cold War “trust but verify” approach to shopping as 62% of consumers always or usually price check between online and in-person stores while holiday shopping.
- Black Friday excitement seems to be waning as shoppers skip the mob to click the mouse: 56% of millennials did most of their holiday shopping online last year and 62% plan to do most of their holiday shopping online this year.
- High holiday rollers like to go bigger. Big holiday spenders (over $3,000) are nearly 3x more likely than budget holiday spenders (under $1,000) to say they plan to spend more this season compared to last year.
- Are you experienced? Many holiday gift recipients are, because they’re getting an experience as a gift: 73% of holiday shopping budgets will go towards buying products while 27% of budgets will go towards buying experiences.
- What do advice and holiday gifts have in common? 88% of consumers would rather give than receive.
- Millennials might resist being tagged as “entitled,” but they still like to see holiday presents with their name on the tag. Millennials are 50% more likely than their parents to say it’s better to receive than to give.
- In a bold statement against Christmas creep, 41% of consumers say stores shouldn’t open on Thanksgiving.
Shopping trends study conducted in October 2016. More than 1,150 global respondents. The sample is matched to the population distribution of age and has a margin of error of +/- 2.9% at the 95% confidence interval.