Holiday Shopping Outlook

Will the coming holiday season be a gift for retailers and brands? The vast majority of US consumers plan to spend at least as much this year on holiday gifts as they did last year and will be turning to stores for holiday gift inspiration, according to results of the 13th Annual Holiday Shopping Survey from Accenture. 
 
The online survey of 1500 U.S. consumers found that Americans expect to spend $637 on holiday shopping this year, on average, with approximately six in seven respondents planning to spend either the same (57%) or more (28%) than they did last year. On average, men expect to spend approximately 15% more than women — $685 versus $588. 
 
Gift cards and clothing/footwear topped the list of planned purchases, according to Accenture.
 
Accenture said that does appear to be a level of caution among consumers this year, however, as the percentage of those who anticipate spending less rose slightly year on year, from 11% to 15%. The two leading factors that respondents cited as affecting their holiday shopping spend are rising food bills (cited by 32% of respondents) and the desire to limit their credit card debt (31%).
 
The study also found a growing trend of “responsible retail,” with shoppers more concerned about the environmental and social impact of their purchases.
 
According to Accenture’s study, consumers want clear labelling that products are made in sustainable or ethical ways, to be shown the origin of materials and ingredients and offered the option of packaging-free products and deliveries. Further, half  of the respondents said that, due to the negative environmental impact of fast-shipping options — which includes the use of planes rather than ground transportation, as well as the shipping of multiple items separately rather than together to expedite delivery — they would opt for delivery options with a lower environment impact, such as slower shipping or in-store pick-up. Consumers are now looking at the carbon footprint of the different delivery options retailers offer.
 
And it’s not just environmental issues that ‘responsible’ shoppers believe retailers should consider. Retailers have a responsibility to address wider social issues through their business practices and working conditions, and nearly half of the respondents (45%) said they are more likely to do their holiday shopping with retailers that do just that.
 
“We have entered the era of ‘responsible retail,’ where consumers are becoming more environmentally and socially conscious and will increasingly turn to brands that not only talk about responsibility but demonstrate it through their business practices,” Standish said. “Retailers need to design their products and their business around responsible initiatives; those already on this path could have the edge over their competitors this holiday season and beyond.”