Here’s how retailers can drive holiday purchases
A new survey reveals consumer attitudes toward shopping for holiday gifts.
According to "Gift or Grinch? Unwrapping This Season’s Shopper Spending Plans," a survey of 4,000 U.S. and U.K. adult consumers from enterprise search software provider Coveo, reveals 59% of respondents say they plan to cut everyday purchases in order to prioritize gifting budgets, and more than three-quarters (76%) plan to maintain or increase gift purchases this holiday season.
Within this generally optimistic holiday shopping environment, the survey uncovered a number of specific factors that consumers say would help motivate them to make a holiday purchase.
For example, 90% of respondents said they are open to being persuaded to add items to their existing online order and 85% respondents said they are prone to impulse buys online, especially for fashion, shoes, and apparel. And more than two-thirds (68%) are planning to visit one or more retailers during Black Friday and Cyber Monday.
The survey also revealed the following holiday purchase drivers:
- Eight-in-10 respondents said they discover special offers via purely digital sources, including email, social media platforms, online search and online marketplaces.
- The most popular individual response for finding deals in general was through online or in-store store advertising and signage, with more U.K. respondents preferring this method than their U.S. counterparts (51% vs. 44%, respectively). Notably, only 13% of U.K. respondents said they learn about deals through print mailings/coupons, 14 points lower than the U.S. cohort (27%).
- More than half (55%) of respondents say they plan to grocery shop online or use delivery apps for holiday meals and parties, and, of these respondents, 20% say this is an increase to their typical online grocery shopping routine. This trend is even more pronounced among younger generations, with 69% of Gen Z and 68% of millennial respondents choosing these options.
- Six-in-10 (61%) respondents say that specific site search categories such as "gifts for dad" or "gifts under $50" would be helpful when gift shopping online.
- While 45% of U.S. respondents and 39% U.K. respondents said they enjoy finding the perfect gift, 19% said they dislike the process due to the time and expense required, and 20% said they are indifferent, viewing it as just another task to complete.
- Three-in-10 (31%) respondents say they would find a generative AI advisory experience useful for online gift shopping, including 44% of millennials respondents..
"We're pleasantly surprised at how upbeat consumers are about the upcoming holiday season, which could be indicative of the improved economy and slightly lower inflation," said Sheerine Reid, senior director of commerce product marketing at Coveo, in exclusive commentary for Chain Store Age. "One key takeaway from our report is the positive implications for fashion, clothing and footwear retailers. Most shoppers, 85% overall, are prone to impulse buys from these categories when shopping online.
"Brands should also take note of the 61% of respondents who said they appreciate specific search categories, such as 'best gifts for teens' or 'gifts for dad,'” said Reid. "This finding suggests that adding gift categories could increase the potential for conversions, engagement and higher average order value."
[READ MORE: Survey: Consumers to start holiday shopping early, focus on promotional events]
Coveo conducted the survey in July 2024 in partnership with Arlington Research.
