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Over half of customers will spend holiday shopping online

Nov 02, 2020

The survey was conducted in October as part of the Consumer Confidence Survey

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Over half of customers will spend holiday shopping online. Source: shutterstock.com

The Conference Board has found that consumers are entering this holiday season intending to spend about $673. That is on par with last year’s spending estimate of $675.

In addition, the continued inclination to stay at home will bode well for e-commerce. For instance, 52% of consumers say they plan to make at least half of their purchases online, compared with 42% in 2019.

Consumers are entering the holidays with intentions to spend about the same as last year. That is relatively good news at a time when consumer confidence remains below pre-pandemic levels, unemployment is elevated, and the economy appears to be losing momentum heading into the final stretch of 2020. With COVID-19 cases continuing to rise, retailers should prepare for a surge in online traffic and purchases
Lynn Franco, Senior Director of Economic Indicators at The Conference Board

The report has found that consumers are expecting to purchase fewer gifts at a discount this year. In fact, just 30% say they expect, at a minimum, to purchase half their gifts at a discount, down from 35% last year.

We’ve reported that 80% of female respondents have no idea what they intend to buy or want to receive themselves just 8 weeks before the holiday shopping season begins.

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