Omnichannel Retail, Consumer Holiday Spending, Customer Holiday Spending, Omnichannel Retail

Holiday Consumer Spending & The Omnichannel Customer Experience

rreed Customer Engagement

During the frenzied holiday shopping and increased consumer spending of Q4, delivering a positive customer experience is vital as potential customers peruse and shop online among thousands of competing products and services.

Deloitte’s annual holiday survey revealed that 83% of consumers plan to use a desktop or laptop for holiday shopping this year. And retailers have a 75% probability of converting a desktop or laptop shopper to a purchaser and a 52% probability of converting a smartphone shopper to a customer. The survey also found that holiday shoppers will spend $228 more per household this year than last year.

Nerdwallet found that 7 in 10 consumers plan their holiday shopping about two months in advance, and 47% plan to complete gift purchases between Nov. 28 and Dec. 23.

As retailers gear up for holiday spending, experts suggest focusing on the customer experience to create a lasting impression post purchase. Despite its fast pace, the holidays are an optimal time to lock in a customer experience strategy to drive repeat purchases, retention, and customer loyalty.

The National Retail Federation’s holiday survey found that customers still rely on brick and mortar locations for holiday shopping whether it’s for purchasing merchandise, interacting with the product, finding inspiration for gifts, or avoiding shipping costs. Which is why it’s important to incorporate an omnichannel strategy to optimize both in-store and digital touchpoints for a consistent customer experience. One tactic to drive impulse purchases is offering limited time offers through strategic digital promotions.  

Cyber Monday, the biggest online shopping day of the year, which falls on the Monday after Thanksgiving each year, is being transformed into Cyber Week this year, given the extra day between Thanksgiving and Christmas.

A report from Criteo found that an omnichannel strategy is best suited for this year’s spending habits, as shoppers access products from multiple channels throughout the buying process.

  • 66% of shoppers browse online then shop in store
  • 61% order online and pick up in-store
  • 38% buy online (smartphone) while in a retail store from another retailer (usually price-driven)
  • 74% buy online after seeing a product in stores
  • 39% buy online (smartphone) while in stores from the same retailer

In order to rise above the holiday clutter, experts suggest providing customers with offers unique to the retailer, personalized recommendations, or helpful information that will nurture existing customer relationships and encourage purchases.