Fifteen percent of consumers plan to spend more money this holiday season versus last year, with one-third of them doing so online. In fact, more consumers, almost one-third (31%), are expected to shop on Cyber Monday in 2018, according to a KPMG 2018 holiday shopping season survey of over 1,000 consumers. A slight decrease in this year’s Thanksgiving Day shoppers is expected compared to last year.
Higher income households, as well as Millennials, also indicated that they are adopting online shopping faster than lower income households as they rapidly turn to online and mobile technologies to take advantage of holiday deals.
"As more consumers turn to online shopping this holiday season, retailers are expected to escalate their efforts to deliver seamless and personalized customer experiences, both online and in-store," said Mark Larson, national leader of KPMG's Consumer & Retail practice. "Consumers expect a convenient and consistent transaction experience, which is customized to their needs, while also protecting the privacy of their information.
“Expect to see an increasing use of technology and consumer data to provide personalized, on-demand experiences to customers, who are becoming less predictable,” Larson added.
Overall shopping patterns for the 2018 holiday shopping season favor Cyber Monday:
Black Friday 2018 shopping trends show an increase in cross-channel shopping:
Expenditure levels point to an increase in spending during the 2018 holiday shopping season, with most of the increase coming from online:
Millennials do not differentiate from other age groups in terms of overall spend but they plan to spend more online:
This survey was conducted Nov. 11-12, 2018, and it polled 1,031 consumers nationwide. KPMG plans to conduct similar surveys in mid-December, 2018, and following the 2018 holiday shopping season, examining customer insights and experiences around 2018 holiday shopping delivery, promotions and last-minute purchases.