Survey Says Experiences Will Lead Holiday Spending

The upcoming holiday season is shaping up to be a good one for retailers, with shoppers expecting to spend $1,496 per household, according to Deloitte’s 34th annual holiday survey of consumer spending intentions and trends. Online shopping will dominate once again, with people surveyed expecting to spend 59 percent of their holiday budget online. Shoppers also report to no longer separate online from in-store shopping experiences. Rather consumers now conduct research and purchasing in two correlated transactions. “What is most fascinating is that we are also seeing an increase in the number of people who are using their phones not just to research products and discounts, but to ultimately make purchases,” said Rod Sides, vice chairman, Deloitte LLP, and U.S. leader, retail, wholesale and distribution. “In fact, 70 percent of smartphone users said they will use their phone to make a purchase this holiday season.” Up from 66 percent in 2018, 69 percent of respondents say they will research online and make the purchase in-store. And 57 percent of respondents say they will research in-store to then make a purchase online. Within retail, clothing and accessories are set to see the largest holiday spend. Meanwhile, contrary to years prior, respondents report the bulk of

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