A new day dawns and we get a whole new set of figures about the Holiday shopping season, as well as another insight into just how strong m-commerce is becoming – especially for the young.
This time it’s Discover’s Annual Holiday Survey. And its headline story? Well, three stories actually: Firstly, US consumers expect to spend more this year after a wobble in 2014 when they cut back; secondly, it’s the young who are increasing their spend the most; and finally, those young shoppers prefer to spend via their smartphones.
So, now for the numbers.
- Consumers plan to spend 3% more this year at $927 and while that’s still less than just two years ago, it easily beats the $730 they planned to spend for Holiday 2010 when the global downturn was still in full swing and confidence was rock bottom.
- As many as 43% of millennials (aged 18 to 34) expect to spend more this year than last compared to only 22% of shoppers aged 35-plus.
- All age groups plan to spend similar amounts but the way they’ll spend differs a lot. Millennials are expected to outpace non-millennials more than two-to-one when it comes to shopping on mobile devices.
- As many as 73% of millennials surveyed say they will use a smartphone or tablet for Holiday shopping, compared to 32% of non-millennials. Similarly, 52% of millennials say they’ll do most of their holiday shopping online, compared to 42% of non-millennials.
- When it comes to mobile wallets, 36% of millennials surveyed currently use that technology, compared to 15% of non-millennials.
- Consumers are split when asked what type of shopping they plan to do most this year, with 45% planning to shop in-store and 46% shopping online.
- Whether they go to physical stores or digital ones, they’ll be lured by discounts (57%), convenience (19%) and customer service (13%) as the most important factors.