CHICAGO 鈥� The number of consumers planning to do at least some of their holiday shopping online rose to 82% this year, according to a recent holiday purchase intentions consumer survey from , formerly IRI and The NPD Group. While this is still below the 85% who planned on making holiday purchases online in 2021, it is an increase from last year鈥檚 dip to 80%. Overall, consumers plan to do more of their holiday shopping online this year, up to 47% from last year鈥檚 dip below in-store plans to 45% and just slightly above this year鈥檚 in-store plans.
鈥淭he role that online shopping growth will play in this holiday shopping season is bigger than just where consumers are making purchases,鈥� said . 鈥淓-commerce doesn鈥檛 promote social shopping and impulse spending the same way in-store shopping does 鈥� both critical components to sales growth during the holiday season, particularly as consumers continue to be faced with elevated prices, forcing more tradeoff decisions in their purchases.鈥�
Online-only sites are still the top choice among consumers for , and grew the most of all planned shopping destinations compared to last year. Enduring inflation has sent discretionary spending on a steady trajectory of year-over-year declines, but it has yet to have a significant impact on where U.S. consumers are shopping. The e-commerce channel has gained some share within discretionary general merchandise spending this year, now accounting for 44% of sales revenue, but performance in all other channels remains relatively steady, according to Circana鈥檚 consumer receipt-based data.
鈥淐onsumers have shifted behavior within the stores they currently shop, reflected by share gains in private brands, but the anticipated downshift toward more value-centric shopping has not yet materialized at a retail channel level,鈥� added Cohen. 鈥淭he continued sales declines in many industries and slowing growth in others may signal that retail is at a crossroads. Holiday spending, and consumer response to fourth-quarter promotions, will be important indicators of what to expect in 2024.鈥�
