Online shopping is increasingly popular heading into the 2024 holiday season, but fewer consumers plan to shop exclusively online this season, according to market research and analytics company Circana.
Circana’s Holiday Purchase Intentions report reveals that 83% of holiday shoppers plan to shop online this year. Meanwhile, 74% of holiday shoppers plan to shop online and in-store, while 16% plan to shop exclusively in-store, both increasing slightly from last year’s shopping plans, according to the Circana survey. This shift indicates consumers are seeking a balance between the convenience of online shopping and the experience of shopping in physical stores, Circana reported
“Convenience and value are paramount for consumers, creating an interesting dance between e-commerce and physical retail this holiday shopping season,” said Marshal Cohen, chief retail advisor for Circana. “More than ever, holiday shoppers will be utilizing all shopping channels and resources to maximize their spending ability and overall shopping experience.”
The Circana report also highlights the growing importance of online research and price comparison before making a purchase. Nearly one-third of holiday shoppers surveyed indicated they prefer to buy as many gifts as possible online, and just as many said they compare prices online before heading to a store.
The majority of holiday shopping will be done online, as online-only retailers are the top planned holiday shopping destination this year, cited by 77% of consumers, according to Circana. Moreover, 42% of holiday shoppers plan to do more online shopping to ship directly to family and friends, a significant increase from last year, Circana noted.
Traditionally, in-store promotional events, such as Black Friday, are now a bigger part of the online trend. Black Friday ranked the past two years as the top shopping day in November for in-store and online purchases, according to Checkout receipt-based sales tracking from Circana.
“As the peak holiday shopping period approaches, retailers must adapt to the evolving preferences and growing proficiency of consumers,” Cohen said. “A seamless cross-channel experience will be critical for retailers that play in both spaces and those that don’t need to find ways to counteract the top benefits of their competition or risk losing out on this holiday’s growth opportunities.”
