Here is another report on holiday shopping to add to the plethora of studies now coming out. In a study titled What Retailers Can Expect From Customers In The 2020 Holiday Season, InMoment has found that 79% of consumers will shop online this season.
In contrast, 67% will shop in department stores, while 34% will shop in specialty clothing stores and 34% will shop in specialty technology stores.
InMoment concludes from this that people are eager to shop both online and in stores.
The high degree of online shopping points to a need for strong transactional email systems to handle the digital surge. The study notes that this is a year like no other.
Of the consumers polled, 31% plan to shop more on Black Friday than they did last year, and 38% say the same about Cyber Monday.
But 27% will buy less on Black Friday and 29% will buy less on Cyber Monday than they did in 2019. In addition, 22% will purchase more and 24% will purchase less in December than they did in the same period last year.
The remainder in each period will shop at the same levels as last year.
Meanwhile, the study shows that 55% of women will shop this year, and 45% of men. But men are more likely to shop on Black Friday. Overall, Gen Z males will be the top buyers.
Millennials and boomers are the leaders among age cohorts, and people earning $50,000-$100,000 are more likely than those at other income levels to shop.
As to what they plan to buy, 29% are eyeing clothes, shoes and sportswear.
Another 23% expect to buy and pick up gaming consoles. And 18% have toys and building sets on their list, the study notes.
One piece of good news is that 55% are optimistic and 45% are pessimistic. If the general situation does not improve, 65% are more likely to shop online and 35% are likely to shop in-store.
InMoment’s Strategic Insights team surveyed over 5,000 consumers.