The National Retail Federation has released its 2015 shopping trends report and consumers are poised to spend more this year than any other in the survey’s 14 year history. Online shopping is still on an upward trajectory and retailers are offering more flexible buying options that consumers are increasingly taking advantage of. Learn more about these trends in today’s blog, below.
Will you be participating in any of these 2015 retail shopping trends?
2015 Retail Shopping Trends
Average spending is up
The average amount that Americans will spend this holiday season is $805.65, nearly $3 more than last year’s total. This includes purchases of gifts as well as holiday décor, food items, and other associated expenses. This is the highest amount the survey has recorded in its 14 year history! The amount spent on family members has inched up slightly as well–from $458.75 last year to $462.95 this year–and is also a record high for the survey.
Holiday shopping goes high-tech
It’s no secret that more and more consumers are turning to the online marketplace to complete their holiday shopping and this year’s report reflects that: Nearly half of all holiday shopping will be completed online. Consumers surveyed indicated that they will be doing 46% of their shopping (both browsing and buying) online, an increase of 2% over last year. Mobile shopping is also on the rise with more than 21% of respondents indicating that they will be using their phone to purchase holiday gifts this year.
Consumers want flexibility
For consumers who plan on doing their shopping online, nearly half plan on using services such as ship-to-store or free online pickup. Shipping costs remain a top concern, with 93% of online shoppers indicating that they plan on using a promotion for free shipping when they do their shopping.
For some retailers, the holiday season can represent as much as 30 percent of annual sales. Overall last year’s holiday sales represented 20 percent of total retail industry sales.
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