Retailers should ensure that their supply chain and online checkout processes are running smoothly this holiday season.
According to the new annual global holiday survey from location intelligence platform Loqate, retailers can have a successful holiday shopping season if they can meet consumer expectations for a seamless omnichannel experience, quick and easy checkout and on-time delivery.
Supply chain is critical to holiday success
Supply chain issues and low inventory are motivating surveyed consumers to get an early jump on holiday shopping. Globally, 87% plan to start seasonal shopping before December. It's worth noting that 52% of U.S. respondents say that a retailer's availability of products impacts their loyalty.
One supply chain area respondents are expressing concerns about is delivery. Eighty-four percent of surveyed shoppers are concerned about packages arriving on time, and many aren't willing to give second chances after late deliveries. Baby boomers are the most unforgiving, with 46% of respondents in this age group unlikely to purchase from a retailer after a late delivery, followed by 38% of Gen X, 29% of Gen Z and 28% of millennials.
In other supply chain insights, 18% of respondents consider free shipping the most important purchasing factor, while promotions and discounts take the top spot for 17% of surveyed shoppers.
Other notable findings
- One-quarter (24%) of respondents say they will abandon their carts if checkout is too complicated.
- Although 25% of respondents expect to do the majority of their shopping online, 55% will be hybrid shoppers and 85% expect consistency during every interaction, no matter where it takes place.
- Despite inflation concerns, a plurality of shoppers (49%) plan to spend the same on gifts as in 2021. Only 16% of baby boomers are spending more this year, compared to 21% of Gen X, 31% of millennials and 38% of Gen Z.
- Among all respondents, mobile has surpassed computers as the most popular online shopping device. 57% of surveyed baby boomers prefer to shop on a computer, and 17% prefer purchasing from a tablet.
Survey: Price, delivery motivate holiday shoppers
A recent survey of global consumers from Oracle Retail indicates that cost and delivery issues are top of mind for holiday shoppers. One-third (34%) of respondents are worried they won't have the money they would like to spend on holiday shopping due to rising commodity prices and 36% are concerned that the gifts they want to buy will be more expensive this year.
In addition, home delivery (56%) is the most popular method for respondents to the Oracle survey to collect items bought online, compared to curbside (21%) or in-store pick up (16%). In addition:
- 47% of respondents said fast delivery often determines who they will order from.
- 62% are willing to pay more for expedited/guaranteed delivery.
- 61% would consider booking a third-party delivery/collection service to ensure they get their gifts on time.
To have access to the full 2022 Loqate Holiday Shopper Insights report, visit: https://hubs.ly/Q01nNJVZ0.