As the holiday season quickly approaches shoppers are already making purchases for gifts while some retailers are putting their last minute touches to their Black Friday and holiday shopping experiences. There’s no doubt that mobile will drive retail sales even more this year.
Online sales will jump 5.7% year over year, reaching $885.70 billion, according to an eMarketer report. “Retail sales in November and December 2015 are expected to show a healthy increase over what was experienced during the same period in 2014,” said eMarketer analyst Monica Peart.
And according to a PWC survey, 66% of retailers plan to increase digital technology investment based on the enormous growth in digital shopping last year. Retailers are looking to invest in mobile technology, advanced logistics for faster real time delivery, and strengthen purchase methods such as buy online, pick up in-store options, within the next year. With that said, 77% of retailers expect a digital revenue increase of 16% over last year.
PWC also surveyed consumers and found that 15% of consumers say they plan to shop exclusively online during Thanksgiving Day, while 20% will shop in-store.
Savvy shoppers are also taking advantage of better value and promotional offers this holiday season. While 64% of retailers surveyed are providing standard free shipping, 83% of shoppers say it would make them “extremely likely to make a purchase.” Price is the primary driver of holiday spending choices for 87% of shoppers and 68% want deals and promotions this holiday season.
US consumers are becoming more and more comfortable with their mobile devices so they end up making a purchase instead of abandoning their cart.
Black Friday is no longer a single day sale event; it begins before and lasts for about a week after as brands compete with each other on promotions and prices. Consumers are optimistic as they’re heading into holiday season shopping.