Dive Brief:
- It was a surprise last year when Deloitte found that holiday consumers expected to spend as much online as in stores, but this year that’s gone even further: More than half (51%) of holiday shoppers expect their budgets to go to online spending, compared to 42% who expect to spend in stores, according to Deloitte’s 32nd annual holiday survey, which was emailed to Retail Dive. More than half (55%) plan to shop online for gifts, while 44% plan a trip to mass merchants.
- No matter where they’ll spend, holiday shoppers are feeling fairly flush. Most (81%) of respondents said their household financial situation is the same or better than last year, up from 63% in 2012. The financial comfort won’t boost spending much — that’s holding steady at an average $1,226 per household. That nearly doubles among those earning $100,000 or more, for an average $2,226.
- But retailers won’t feel the full effects of consumer confidence. While $430 of that will go toward gifts (just a third of the holiday budget), $480 (roughly 40% of the budget) will go toward experiences like holiday entertaining and socializing, according to Deloitte.
