Executive Briefings

Increase in Holiday Shopping Spending Predicted, Especially Among Millennials

With a quarter of holiday shoppers planning to spend more this year than last, retailers can start to celebrate. In its second year of research into holiday shopping plans, analytics company SAS polled 3,458 consumers in the U.S., Canada, the U.K., Australia and New Zealand. The U.S. led spending growth with 29 percent of consumers saying they'll spend more. Canadian shoppers, on the other hand, are tightening their budgets this year. Millennial shoppers (ages 18 to 29) are most likely to up their spending this year, while older consumers are tending to stick with last year's budget.

Increase in Holiday Shopping Spending Predicted, Especially Among Millennials

"Consumers are highly motivated by price in 2015, according to our survey," said Alan Lipson, SAS global retail marketing manager. "So for consumers, my guidance is pay attention to your preferred retailers. Sign up for their loyalty programs, download their apps, follow them on social media, and visit their web sites for deals. Retailers want to reach you in the way you want, so make that work to your advantage. Opt in with your smartphone while shopping in the store – the retailer can send you promotions that other shoppers might not receive."

Lipson also said retailers know a consumer's time is valuable. If an item runs out in the store or online, consumers will look for what they want from a competitor. "Consumers are in the driver's seat during the holidays, more than any other time of the year," he said.

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"Consumers are highly motivated by price in 2015, according to our survey," said Alan Lipson, SAS global retail marketing manager. "So for consumers, my guidance is pay attention to your preferred retailers. Sign up for their loyalty programs, download their apps, follow them on social media, and visit their web sites for deals. Retailers want to reach you in the way you want, so make that work to your advantage. Opt in with your smartphone while shopping in the store – the retailer can send you promotions that other shoppers might not receive."

Lipson also said retailers know a consumer's time is valuable. If an item runs out in the store or online, consumers will look for what they want from a competitor. "Consumers are in the driver's seat during the holidays, more than any other time of the year," he said.

Read Full Article

Increase in Holiday Shopping Spending Predicted, Especially Among Millennials