Over the River and Through the Woods: Travel and Experiences Set to Take Biggest Share of Holiday Spending
NEW YORK, Nov. 5, 2019 /PRNewswire/ --
Why this matters
Deloitte commissioned a national survey of 4,410 consumers to better understand spending for the upcoming holiday season. Conducted online, Sept. 6-13, by an independent research company, the survey provides key insights into consumer behavior and what retailers can expect from shoppers as they tackle their holiday shopping.
Heading home for the holidays
Travel and experiences are drawing the largest share of holiday spending this year. Whether entertaining at home, enjoying a meal at restaurant, or traveling, the bulk of consumer spending will relate to experiences.
“This holiday season, consumers are looking to make memories. Whether that means sharing a meal with friends, hosting a festive holiday celebration, or traveling to visit family members, most shoppers plan on socializing this holiday season. Not only that, consumers are also turning to food and beverages as holiday gifts; 43% of those surveyed noted that they plan to purchase food or liquor for someone else. It’s also the No. 1 item people plan to buy for themselves.”
- Rod Sides, vice chairman, Deloitte LLP,
and U.S. leader, retail, wholesale and distribution
Sharing data in exchange for deals
Consumers are willing to share their data with retailers in exchange for benefits, but still feel like they have little control over what is done with those details.
Emerging tech has yet to gain favor among consumers
Despite smartphones becoming a point-of-sale anywhere at any time, consumers are unlikely to see the value in emerging technology when shopping.
Signed, sealed, delivered
Consumers have more delivery options than ever. However, they are slower to adopt newer delivery models.
For additional information, visit: https://www2.deloitte.com/us/en/insights/industry/retail-distribution/holiday-retail-sales-consumer-survey.html.
About the Center
Deloitte Insights Consumer Industry Center (the “Center”) provides a forum for innovation, thought leadership, groundbreaking research, and industry collaboration to help companies solve the most complex industry challenges.
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