A new survey by RetailMeNot shows that 62% of consumers used credit cards to pay for their holiday gifts. That means they’re rolling into 2014 in debt. But fear not retailers, this doesn’t mean they’re done shopping. 68% of consumers said they expect to make more money this year and many of them will be spending that extra cash online.
Best news: Almost 4 in 10 people described themselves as spenders, not savers.
The overwhelming majority (87%) said they plan to shop the same or more in 2014 than they did in 2013. 26% plan to shop more but to afford everything they want, they’re looking for even more discounts.
Consumers are particularly interested in holiday-themed sales. Black Friday and Cyber Monday top the list, but there are other holidays that impact their buying habits including:
- Mother’s Day: 17%
- Valentine’s Day: 16%
- Labor Day: 14%
- July 4th: 14%
- Memorial Day: 14%
- Father’s Day: 13%
- Easter: 11%
- Presidents Day: 10%
Online vs In-Store
Turning to the subject of online shopping, we come across several interesting notes:
- Nearly 1 in 4 (24%) of consumers said that in 2014 they hoped retailers would offer wider product selections online than what they carry in-store.
- Consumers like the convenience of ship-to-store. In fact, 44% of shoppers, including 49% of women, said that they wanted retailers to give consumers the ability to avoid shipping costs by ordering online and picking up in-store.
- Nearly 1 in 4 (23%) consumers said they want a more seamless experience between their in-store and online shopping activities. Retailers should ensure shoppers’ desktop, app, tablet and in-store experiences are all interconnected.
Most consumers are still using their desktops to order online but almost half were using tables and smartphones to shop. Of those, a small percent said they expect to do more shopping on a mobile device this year.
What are People Buying?
RetailMeNot asked folks what they intend to buy during each month of the year then matched that to coupon clicks on their own site. The result? January is a lousy time for sales of anything other than books. February is even worse. Once the snow starts to melt and the flowers bloom, shoppers get busy looking for deals on home and garden items with travel purchases kicking in around May and running through the summer. Though people buy clothing and health and beauty products on a monthly basis, coupon clicks are highest in the fall.
How goes it where you are?