Many shoppers are waiting till the final weeks of the holiday season.
Certain retailer offerings can motivate holiday shoppers to make purchases.
According to new quarterly data from on-demand fulfillment platform Ware2Go, a UPS company, 56% of surveyed consumers are buying most of their holiday gifts in December, with more than eight in 10 intending to buy at least some gifts at the last minute. However, respondents said retailers can entice them to make holiday purchases with the following tactics:
Provide free shipping – 66%.
Offer deal days, coupons or promotions on online products – 49%.
Reward customers with extra loyalty points – 35%.
Provide one-to-two-day shipping on all purchases – 34%
Offer special in-store only discounts – 28%
The 2022 holiday season is seeing a 43% increase in holiday shoppers buying more than half of their gifts last minute. Less than half of surveyed consumers (48%) shopped early holiday deal days like Amazon’s October Prime Day event.
Ware2Go data also indicates that economic pressures such as inflation have prompted 79% of surveyed consumers to change their buying behaviors. Six in l0 (61%) surveyed consumers report that they have cut back on online spending, specifically on electronics, clothing, and home décor/furnishing.
When it comes to holiday shopping, between one-quarter and over one-third of surveyed consumers are buying fewer (32%), cheaper (36%) and different types of gifts (24%) compared to past seasons.
Surveyed consumers plan to support small businesses during the holiday season, with 65% reporting they will online shop with a small business for last-minute holiday purchases.
Three-quarters ((76%) of consumers intend to shop Black Friday weekend holiday sales, with 60% of shopping online. According to Ware2Go analysis, shoppers will be primarily looking for deals on practical items for everyday use and recreational goods on Black Friday weekend.
A recent consumer survey of more than 1,500 respondents from Accenture also indicates holiday shoppers are focusing on shipping policies and deals, but suggests more early activity than Ware2Go’s research:
Four in 10 Accenture consumer respondents expect fast and free delivery of online orders.
One in three (34%) consumers surveyed by Accenture are looking to spread the cost of holiday shopping, and more than four in 10 (42%) are shopping as and when promotions and discounts are offered.
Close to half (45%) had already started holiday shopping in August, and a smaller group (16%) of “early bird” respondents started in early 2022 to take advantage of post-holiday sales and discounts.