2015 Holiday Spending by Consumers expected to change drastically for retailers - Black Friday is Out, Store Pick up is in

Deloitte’s 30^th annual holiday consumer spending survey of over 4,000 US consumers identify major changes to some shopping traditions. Key findings include:

• Shoppers are expected to spend $1,440 this holiday season, across gift purchases, socializing, non-gift clothing, and home/holiday furnishings.
• Nearly 70% of consumers plan to “webroom” by looking at items online first and then going to a store to see the item before purchasing – up from 58% in 2014.
• 52% plan to “showroom”, going first to a store to look at an item and then searching online for the best price and then purchasing online.

In addition, 43% of shoppers expect to buy a product online and then pick up in store to save shipping costs and get the item faster. The good news for retailers is that those shoppers will probably purchase more items in the stores when they go to pick up what they ordered.

Black Friday and Cyber Monday? More than half of the consumers surveyed said they do not rely on Black Friday as much as they have before and 41% say the same for Cyber Monday, up 5% from last year.

"Many of the moments that matter this holiday season will occur before shoppers ever set foot in a store. Getting the early promotions and engagement right in the digital channels are core to winning the in-store purchase and the shoppers who tend to spend more,” says Deloitte Vice Chairman, Rod Sides.

Source: Chain Store Age