New York – Emerging consumer buying trends will have significant implications for retailers this holiday season, according to a new survey from Booz & Co.
In its 1,600-person survey — which polled consumers, retail store staff and retail executives to determine buying habits and potential trends for this holiday season — Booz & Co. found that in-store competitive browsing, heavy online shopping and downloaded gifts top the new shopper behaviors expected this holiday season. The company specifically called attention to multichannel shopping, which it said will be a core part of how consumers shop: 40% of surveyed consumers describe "showcasing" as their new shopping strategy: browsing in-store before buying online, which creates a major challenge for brick-and-mortar retailers.
Additional key findings include:
"The biggest challenge this season for brick-and-mortar retailers is determining how to drive more than their fair share of 'showcasing volume' to their websites rather than Amazon.com or another competitor," said Thom Blischok, chief retail strategist for Booz & Co. "While technology enhancements and economic uncertainty will both impact this holiday season, there is a dose of optimism compared to 2011, as people shop with a value-seeking mindset."