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The holiday season is a time of joy, reflection, and tradition, but it also comes with challenges and shifting trends for consumers and businesses. Holiday surveys reveal significant factors during this period, such as consumer spending, which reflects the economic challenges and retail trends faced by CMOs in 2024, including the evolving preferences for shopping online during the holiday season.
Below are highlights from recent B2C and B2B surveys with key statistics to provide deeper insights. Whether you’re a brand manager, business owner, or curious consumer, there’s valuable information here.
Shopping Habits: Theatro Holiday Shopping Report
This 2024 survey highlights consumer shopping behaviors, from holiday shopping early to last-minute purchases. The report provides critical insights into how retailers can adapt to changing habits.
Key Stats:
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68% of holiday shoppers start their shopping before Thanksgiving.
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52% say they prefer omnichannel experiences, blending shopping online and in-store shopping, with a rise in alternative delivery methods like in-store pickups.
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41% actively look for deals via personalized offers and retailer apps.
Retail Trends: Theatro Retail Customer Experience Survey
Understanding evolving customer expectations and customer satisfaction is crucial for retailers. Post-pandemic shopping trends have significantly impacted holiday retail, with a notable growth in e-commerce and changes in consumer behaviors, such as the rise of shopping online and the importance of an omnichannel shopping experience. This survey focuses on what drives loyalty and satisfaction in the retail sector.
Key Stats:
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73% of consumers prioritize stores with seamless online-to-offline integration.
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65% say loyalty programs influence their choice of retailer.
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56% are more likely to shop where they receive personalized recommendations.
Content Campaigns: Aprimo Holiday Content Planning Report
This report dives into how brands develop and execute their marketing strategies for holiday content campaigns to capture consumer attention through shopping online and other online channels.
Key Stats:
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87% of brands focus on short-form videos for holiday marketing.
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42% of businesses start planning holiday content six months in advance.
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68% report increased engagement through interactive content, such as polls and quizzes.
Subscriptions as Gifts: Recurly Holiday Subscription Trends Report
Shopping online for subscription boxes has become a growing favorite for holiday gifting. Many consumers include subscription gifts in their spending plans, budgeting for these services during major holidays. This report explores which services are most popular and how consumers engage with them.
Key Stats:
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29% of holiday shoppers purchased at least one subscription gift in 2023.
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61% of recipients continue subscriptions beyond the initial gift period.
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46% prefer subscriptions with flexible cancellation policies.
Food and Festivities: DuraPlas Holiday Foods Survey
Food is central to holiday celebrations, and this survey explores preferences and sustainable packaging trends.
Key Stats:
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81% of respondents say food is the centerpiece of their holiday gatherings.
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62% are willing to pay more for eco-friendly packaging options.
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34% prefer regional holiday foods that reflect local traditions.
Business Payments: TrustMi Business Payments Holiday Report
SMBs face unique challenges during the holidays, particularly with payments and cash flow. This report offers valuable insights into payment trends.
Key Stats:
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47% of SMBs adopted faster digital payment methods in 2023.
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38% experienced cash flow challenges during the holiday season.
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55% said holiday payment delays impacted their ability to restock inventory.
Gift Returns: Phelps United Holiday Gift Returns Survey
Shopping online has become integral to holiday traditions, especially when processing gift returns through online portals. This survey examines why and how consumers manage returns.
Key Stats:
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72% of consumers prefer stores with hassle-free return policies.
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54% use online return portals instead of visiting physical stores.
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31% return gifts due to incorrect sizing or functionality issues.
Financial Pressures: Beyond Finance Holiday Financial Stress Survey
The holidays often come with financial stress, and this survey uncovers how families manage the pressure.
Key Stats:
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67% of respondents reported feeling stressed about holiday spending.
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43% rely on credit cards or buy-now-pay-later services to fund holiday purchases.
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28% use budgeting apps to manage their holiday finances.
Holiday Shopping Early: Trends and Insights
The holiday season is no longer confined to November and December. With the rise of online shopping, consumers are starting to shop earlier, and retailers are responding by offering sales events in October. According to Adobe Analytics, online shopping during the holiday season is expected to hit new highs, with a forecasted spend of $241 billion, up 8.4% from 2023. This trend is driven by consumers’ desire to avoid last-minute shopping and take advantage of early deals.
Economic Headwinds: Challenges Facing Holiday Shoppers
Despite the expected sales growth, holiday shoppers are facing economic challenges, including inflation, layoffs, and declining savings rates. According to a survey by Deloitte, 57% of consumers describe their financial situation as strained, and 85% are considering cutbacks over the next six months. As a result, retailers must be prepared to offer value, discounts, and flexible payment options to attract price-conscious consumers.
Home Delivery and Alternatives: Evolving Consumer Preferences
Home delivery remains the top delivery method for online holiday shopping, but alternative delivery methods are gaining ground. According to Adobe Analytics, 49% of Gen Z and 48% of millennials are opting for in-store pickup, blending digital convenience with physical retail experiences. Additionally, 64% of Gen Z and millennials are likely to buy gifts that support a cause, indicating a shift towards more sustainable and socially responsible shopping practices.
Holiday Celebrations: Traditions and Modern Practices
The holiday season is a time for celebration and holiday traditions, but modern practices are evolving. According to Numerator’s 2024 Holiday Preview survey, food and alcohol are the top two products that consumers plan to purchase across holidays, while candy and gifts are also popular items for select holidays. Grocery stores and big box stores are the top two locations for shopping for all major holidays, but online retailers are gaining traction, especially for gift-focused holidays.
Gift-Giving Trends: What’s Changing in 2023
Gift-giving trends are shifting, with consumers prioritizing experiences over physical goods. According to Deloitte, spending on experiences is expected to increase 16% this year, while gifts spending is expected to be relatively flat. Additionally, consumers are seeking more sustainable and socially responsible gift options, with 64% of Gen Z and millennials likely to buy gifts that support a cause.
Total Season Spend Forecast: Predictions for 2024
Adobe Analytics forecasts that the season spend forecast for online retail will hit new highs this holiday season, with a record $241 billion in online sales, up 8.4% from 2023. Mobile spending is expected to play a significant role, with a forecasted spend of $128 billion, while buy now, pay later (BNPL) spending is expected to peak on Cyber Monday with a new single-day-record of $993 million.
Mobile Shopping and Payment Trends
As we look ahead to the 2024 holiday season, shopping online via mobile devices and payment trends are set to play a pivotal role. According to Adobe Analytics, mobile spending momentarily surpassed desktop spending during the 2023 holidays, and this trend is expected to grow even more prominent in 2024. Mobile revenue share is projected to hit a record 53.2% of online shopping, accounting for a staggering $128 billion this holiday season.
The “buy now, pay later” (BNPL) option continues to gain traction among holiday shoppers. Adobe forecasts that BNPL spending will peak on Cyber Monday, setting a new single-day record of $993 million. In 2023, 18.5% of online shoppers utilized BNPL services, and this number is expected to rise as more consumers seek flexible payment options.
Mobile payment methods, such as Apple Pay and Google Pay, are also on the rise. A survey by Numerator reveals that 62% of consumers plan to use mobile payment options during the holiday season, up from 55% in 2023. This shift underscores the growing importance of mobile-friendly shopping experiences and payment flexibility for holiday shoppers.
Holiday Shopping Outlook: Trends in Holiday Shopping
The outlook for the 2024 holiday shopping season is promising, with online retail spending expected to reach unprecedented levels as more consumers continue shopping online. Adobe forecasts that consumers will spend a record $241 billion online during the 2024 holidays, marking an 8.4% increase from 2023. Of this total, mobile spending will account for $128 billion, while BNPL spending is projected to reach $18.5 billion.
In-store shopping is also anticipated to see growth, with 60% of consumers planning to shop in-store during the holiday season. According to a survey by Deloitte, 80% of retail executives expect sales growth this holiday season, with 78% noting that earlier promotions are pulling sales forward.
Small Business Saturday is set to see increased participation, with 71% of consumers planning to shop at small businesses during the holiday season. Emerging trends such as social commerce and augmented reality are also expected to influence the 2024 holiday shopping season, offering new ways for consumers to engage with brands.
Overall, the 2024 holiday shopping outlook is robust, with both online and in-store shopping experiencing growth. Consumers are likely to take advantage of flexible payment options, such as BNPL, and mobile payment methods, such as Apple Pay and Google Pay, making this holiday season one to watch for evolving consumer behavior and spending patterns.
Spending Habits: Understanding Consumer Expenditure Patterns
The holiday season is synonymous with increased consumer spending, as individuals and families allocate significant portions of their budgets to gifts, travel, and entertainment. According to Adobe Analytics, online retail spending is set to reach unprecedented levels, with a forecasted $241 billion in online sales during the 2024 holidays, marking an 8.4% increase from 2023.
Consumers are increasingly favoring experiences over physical goods, with spending on experiences expected to rise by 16% this year. This shift reflects a broader trend towards valuing memorable moments and activities over material possessions. Additionally, the hunt for value is more pronounced than ever, with 70% of respondents anticipating higher prices this season. Consequently, retailers are ramping up promotions and discounts to attract budget-conscious shoppers and drive sales growth.
Mobile spending is also poised to play a pivotal role, with mobile revenue share projected to hit a record 53.2% of online shopping, accounting for $128 billion this holiday season. The popularity of buy now, pay later (BNPL) options continues to surge, with Adobe forecasting BNPL spending to peak on Cyber Monday, setting a new single-day record of $993 million. These trends underscore the evolving landscape of consumer spending habits during the holiday season.
In-Store Shopping: The Resurgence of Brick-and-Mortar Retail
Despite the meteoric rise of online shopping, in-store shopping remains a cornerstone of the holiday shopping experience. According to Numerator’s 2024 Holiday Preview survey, grocery stores and big box stores are the top destinations for holiday shopping. While food-focused holidays see a preference for grocery stores, gift-focused holidays often lead consumers to big box stores or online retailers.
In-store shopping offers a tactile and immersive experience that online shopping cannot replicate. Shoppers can touch and feel products, interact with knowledgeable sales associates, and soak in the festive atmosphere. Moreover, in-store shopping eliminates shipping costs and wait times, making it an attractive option for last-minute purchases.
Retailers are capitalizing on this resurgence by creating engaging and immersive in-store experiences. From elaborate holiday displays to special events and promotions, these efforts aim to enhance the shopping experience, drive sales growth, and foster customer loyalty. By blending the best of both worlds—online convenience and in-store engagement—retailers can cater to the diverse preferences of holiday shoppers.
Key Days and Peak Shopping Periods: Timing the Holiday Rush
The holiday season is a critical period for retailers, with key days and peak shopping periods driving significant sales growth. According to Adobe Analytics, the top holiday shopping days are expected to be:
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Cyber Monday: Anticipated to be the biggest online shopping day of the year, with BNPL spending peaking at $993 million.
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Black Friday: Expected to be the second-biggest online shopping day, with sales growth of 15% compared to 2023.
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Small Business Saturday: Set to drive sales growth for small businesses, as consumers seek out unique and personalized gifts.
The holiday shopping season is also starting earlier than ever, with consumers beginning their shopping in October and November. According to Deloitte’s 2024 holiday retail survey, 80% of retail executives expect sales growth this holiday season, with 78% noting that earlier promotions are pulling sales forward.
By understanding consumer spending habits, in-store shopping trends, and key days and peak shopping periods, retailers can develop effective strategies to drive sales growth and increase customer loyalty during the holiday season.
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