Study: Shopper average holiday spending beats 2015
Deena M. Amato-McCoy
The final shopping days of the holiday season are in full swing, and it is driving harried shoppers to open their wallets even wider.
The average spend per gift is up 37% over last year, and men are spending roughly 20% more than women on average, according to new data from Loop Commerce, which evaluated purchases made through its network of top retailers including Macy’s, Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, and Coach, among others..
From Dec. 3 to Dec. 9, men spent an average of $134 on gifts, while women averaged $112. For men, this represents an increase of 15% versus the same period last year. Women spent an impressive 40% more this year than last, data revealed.
Apparel continues to outperform other gifts this year. The category represented seven of the top 10 gifts purchased online the first week of December, with fleece sweatshirts being the top gift of the season, so far. While the top three categories for gifts were consistent year-over-year, within these categories there has been a shift toward more personalized, thoughtful gifts, especially in apparel. In 2015, the top gifts were dominated by makeup, gift baskets, and consumer electronics, Loop said.
High-fashion accessories, like handbags, represented 12% of transactions, and home items, such as kitchen mixers and seasonal gift sets, were 10% of gifts. Other notable products include consumer electronics and footwear.
“As we enter the final weeks of the holiday gifting season, our data shows the trend toward purchasing more personalized gifts online is continuing,” said Roy Erez, CEO and co-founder of Loop Commerce.
Another trend is the increase in mobile usage this holiday season. The growing number of retailers that have optimized their mobile sites and applications have drawn more consumers who are comfortable browsing on their phones. There has been a significant 36% growth in mobile and tablet browsing, at the expense of desktop browsing, which decreased 57% over the same period last year, Loop reported.
Conversely, the majority of online gifting transactions continue to take place on desktop, representing 70% of sales in 2016 versus 72% in 2015. While transactions on desktop decreased 3% year-over-year, transactions on mobile devices grew 7% (handsets and tablets combined), data showed.
“New, innovative technologies in retail are bridging the gap between a gift buyer and receiver, and are changing how consumer gift, and it is driving increases in spending,” he said. “As we head into the final days of the season, we believe this trend will continue, particularly as consumers consider last-minute gifting options.”