Deloitte: Most of holiday shopping to be done in store
New York--Despite potential seasonal barriers to store trips such as long lines, traffic and limited merchandise selection, consumers anticipate spending the majority of their holiday budget in physical stores this year, according to Deloitte's 29th annual holiday survey.
In addition, a strong digital presence may lead shoppers from the virtual storefront to the physical storefront and convert browsers into buyers. Deloitte forecasts that digital interactions will influence 50%, or $345 billion, of retail store sales this holiday season.
The study finds that more than half of respondents (55% ) are shopping at malls this holiday season, but nearly three in 10 (28% ) will visit malls less this year.
Among those shopping less at malls, the top three reasons are crowds (49%), better prices elsewhere (42%) and avoiding traffic (36%).
In other findings:
• The top three detriments cited to shopping in a physical store were long lines (40%), too much traffic (26%), and it doesn't carry the merchandise they want (25%).
• Consumers shopping in the store tend to be more loyal than those shopping online: 51% of consumers indicate that if a product is not available in-store, they will still try to buy from the same retailer, either from another location or its website.
• Whether shopping online or in the store, consumers plan to take advantage of several retailer offerings this year, including free shipping (68% ), free returns (52%), price matching (45%), extended holiday hours (35%), order online for pick up in-store (34%), and free layaway (16%).
•When asked which store-return policies they found most desirable, respondents favored flexible options such as the ability to return items to any store, regardless of purchase location (25%), refund options other than store credit (23%), and no receipt required (18%).
•Also at 18%, and perhaps the boldest indication of their desire for convenience this holiday season, respondents indicated wanting the ability to return items in January that were purchased in October through December.
•While shopping in-store, nearly six in 10 (58%) respondents believe they are better connected with consumer information than store associates, but informed associates still top consumers' wish list when in the store.
• Sixty-one percent of consumers expect store associates will, "Help me check out quickly" and "Be knowledgeable about products." Shoppers also expect associates to let them know about discounts/offers (54%), greet them promptly with a welcoming attitude (42%), be able to match other retailers' prices (35%), and help them find gifts (26%).
• More shoppers (63%) plan to use in-store, self-help technology, up five percentage points from 2013.
• Among the 72% who will use smartphones for holiday shopping, 58% will use the device for finding store locations and 52% will use it to check prices.
• Seventy-two percent of all respondents use social media sites such as blogs, discussion groups or social networks.
• Nearly half of respondents (45%) are using social media to assist in holiday shopping. Among those using social media, reasons cited included: to get gift ideas (47%); find discounts, coupons and sale information (45%); read reviews, "likes," or recommendations for products/stores (41%); browse products (40%); check with family/friends on gifts they want (32% ); and post comments or share links about stores, sales or products (21%).
“For retailers, gaining a competitive edge depends on pulling multiple levers to encourage consumers to shop at one store over another,” said Alison Paul, vice chairman and retail sector leader, Deloitte LLP. "A satisfying in-store experience, an intuitive website, the right in-store innovations, informed store associates, the ability to influence purchases through mobile—all of these elements and more help distinguish successful retailers from the others."