Online is the most popular holiday shopping destination this year for the first time in the history of the annual survey conducted by Prosper Insights & Analytics for the National Retail Federation.
Consumers say they will spend an average $967.13 this year, up 3.4 percent from the $935.58 they said they would spend last year.
More than half, 59 percent, plan to shop online. Most online shoppers will take advantage of free shipping (94 percent) and conveniences like buy online, pick up in store (49 percent). In addition, 19 percent will take advantage of expedited shipping and 12 percent will use same-day delivery.
“With employment and incomes increasing, consumers are more confident this year and that is reflected in their buying plans for the holidays,” NRF President and CEO Matthew Shay said. “Retailers have been stocking up in expectation of this, and all signs are that this will be a busy holiday season. Retailers are preparing for a rush of consumers leading into Thanksgiving and all through December, and are offering a wide array of merchandise and promotions so shoppers can find great gifts and great deals at the same time.”
The consumer survey comes on top of NRF’s annual holiday spending forecast, which takes into account a variety of economic factors and projects that holiday retail sales in November and December this year will be up between 3.6 percent and 4 percent for a total between $678.8 billion and $682 billion.
(49 percent). In addition, 19 percent will take advantage of expedited shipping and 12 percent will use same-day delivery.
