This holiday season brings unique challenges for shoppers and retailers. Despite inflation and economic uncertainties, the National Retail Federation (NRF) and Deloitte predict holiday spending increases of 3 percent and 8 percent, compared to last year. LSU marketing professor Dan Rice emphasized trends shaping 2024’s holiday shopping, including online purchasing growth, early-season sales, and the gift of visiting loved ones.
“Maybe spending a little bit more on a trip to see friends and family instead of sending them a gift from remote. Maybe spending a little bit more on a vacation to go out and experience something instead of a consumer good.”
Online shopping continues to rise, with 57 percent of shoppers planning online purchases. Rice said early-season promotions, like October’s Amazon Prime Days, are also gaining traction, with 78 percent of consumers planning to shop earlier
“You see trends from Amazon for example, having Prime Days that they just basically make up special buying days throughout the year to try and take some of that pressure off the holiday rush and get sales at other points in the year.”
The balance between online and in-store shopping continues to blur, with convenience and accessibility determining consumer choices. Retailers are focusing on seamless shopping experiences using technology like AI and data analytics to attract and retain customers.
“Some of the things that you’ll see is maybe more constant email reminders or more tiered releases of sales.”
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