According to Wikigains, one of the oldest voucher websites in the United Kingdom, the 2017 Christmas spending will be the biggest in retail history.
Food stores have another reason to celebrate because digital sales are projected to rise by 25 per cent. Modern customers are increasing their use of smaller devices (iPhones and iPads) when shopping. Gen Xs, the generation immediately following the Millennials, now representative of the largest demographic in the UK, are avid mobile users. Because of that, the use of mobiles when buying food or other things for the kitchen has grown nearly 25%. The majority of online shopping is now conducted through smartphones.
According to Alex Papaconstantinou, founder of Wikigains.com, these are the 9 trends expected to affect this holiday shopping:
- In brick-and-mortar stores, customers will prefer to have the fast, pain-free shopping experience they get when shopping online. They will also want WiFi in stores so they can compare prices of the same products with online retailers.
- Food retailers are investing more in digital channels in anticipation of an increase of nearly 25% in annual digital sales. Consumers are doing everything from paying for products and tracking their shipments through their mobile devices.
- Millennials with a college education are likely to spend £400 more this holiday season in comparison to other shoppers; and they will spend more money on themselves.
- Gen Z will have a huge influence on the penetration of interactive digital media, particularly mobile video since they number 86 million in North America alone. This group of shoppers prefers products to experiences, unlike the millennials. They also tend to respond more to actual product reviews than to ads.
- An average of £150 will be sent to a favourite charitable cause by each shopper. Additionally, 75 per cent of retailers will also make donations to charity. And shoppers said they have a preference for retailers that demonstrate a commitment to corporate social responsibility. The consumers will contribute to causes such as health and social services, animal welfare, disaster relief, and community development.
- With international borders disappearing and people becoming more mobile, people can shop throughout the year. The trend is encouraged by numerous deals and discount offers from sellers on voucher sites.
- Around 80 per cent for shoppers care about brands. The brands could be independent retailers, established companies, new companies, and even local businesses. About 75% of people will shop locally, while 56% will try and find an independent retailer.
- About half of all households have pets and expectations are that they will buy a gift for them. While the average pet household will spend £50, millennials will end up spending a little more on their pets (£63)!
- Free shipping and free returns have become a norm and about 60% of retailers say they will offer these features to their customers over this shopping season. Ordering and delivery options have increased by retailers in a bid to create a better blend of speed, price, convenience, and variety for shoppers.
All in all, Wikigains predicts that consumers will spend 10% more this season for anything that goes in their kitchen, whether it is food or kitchen utensils. Additionally, consumers from households that have annual incomes below £38,000 will increase their spending more than everybody else. Millennial parents are twice as likely compared to last year to pay for such gifts using their mobile devices!