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US consumers embrace early start to holiday shopping: NRF
20 Nov '20
2 min read
Pic: Shutterstock
Over 40 per cent of US holiday shoppers have started earlier than they normally do, according to the annual survey released recently by the National Retail Federation (NRF) and Prosper Insights & Analytics. “Retailers have demonstrated their commitment and ability to ensure safe shopping environments for their customers and their associates,” said NRF president and chief executive officer (CEO) Matthew Shay.
As of early November, 59 per cent of holiday shoppers said they had started making purchases, a 21 per cent increase from a decade ago. Even so, there is still plenty of shopping left to do. On average, holiday shoppers said they have completed only 26 per cent of their shopping so far, NRF said in a press release.
Retailers’ top priority is the health and safety of their employees and customers, and these investments are paying off. A large majority (70 per cent) of holiday shoppers say that given the precautions retailers have taken for COVID-19, they have felt safe shopping in stores this holiday season.
NRF launched a consumer education campaign called ‘New Holiday Traditions’ to encourage consumers to shop safe and shop early this holiday season.
Retailers began stocking their shelves with holiday inventory and offering holiday promotions as early as October. As a result, 69 per cent of holiday shoppers say they are able to find the items they are looking for all or most of the time, and 84 per cent are confident they will receive items they order online in time for the holidays.
Clothing and accessories are the most popular gift category, according to 54 per cent of those surveyed, followed by gift cards/gift certificates (49 per cent), toys (37 per cent), books and other media (34 per cent) and food/candy (28 per cent).
Credit cards (42 per cent) remain the top form of payment consumers plan to use this holiday season, followed closely by debit cards (41 per cent). Just 15 per cent of consumers listed cash as a top form of payment during the holidays, the lowest in the survey’s history and likely related to the coronavirus.
Half (49 per cent) of shoppers plan to use an alternative form of payment such as PayPal, Apple Pay, Samsung Pay or Venmo. The survey of 8,362 adult consumers was conducted from November 2 to 9.
As of early November, 59 per cent of holiday shoppers said they had started making purchases, a 21 per cent increase from a decade ago. Even so, there is still plenty of shopping left to do. On average, holiday shoppers said they have completed only 26 per cent of their shopping so far, NRF said in a press release.
Retailers’ top priority is the health and safety of their employees and customers, and these investments are paying off. A large majority (70 per cent) of holiday shoppers say that given the precautions retailers have taken for COVID-19, they have felt safe shopping in stores this holiday season.
NRF launched a consumer education campaign called ‘New Holiday Traditions’ to encourage consumers to shop safe and shop early this holiday season.
Retailers began stocking their shelves with holiday inventory and offering holiday promotions as early as October. As a result, 69 per cent of holiday shoppers say they are able to find the items they are looking for all or most of the time, and 84 per cent are confident they will receive items they order online in time for the holidays.
Clothing and accessories are the most popular gift category, according to 54 per cent of those surveyed, followed by gift cards/gift certificates (49 per cent), toys (37 per cent), books and other media (34 per cent) and food/candy (28 per cent).
Credit cards (42 per cent) remain the top form of payment consumers plan to use this holiday season, followed closely by debit cards (41 per cent). Just 15 per cent of consumers listed cash as a top form of payment during the holidays, the lowest in the survey’s history and likely related to the coronavirus.
Half (49 per cent) of shoppers plan to use an alternative form of payment such as PayPal, Apple Pay, Samsung Pay or Venmo. The survey of 8,362 adult consumers was conducted from November 2 to 9.
Fibre2Fashion News Desk (DS)
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