Shoppers are expected to spend more this holiday season, but deal-seeking behavior shows no sign of abating as the vast majority will go to Amazon first, according to a new survey from Accenture.
The 10th annual Holiday Shopping Survey found that 42 percent of consumers rarely or never expect to pay full price for an item during the holiday season.
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That trend is prompting less loyalty. Two-thirds (67 percent) said they will spread out purchases over stores or websites to get the lowest price, and nearly three-quarters (72 percent) said they would be enticed by promotions or coupons to shop at a store they have not used in the last year.
The lure of coupons is also getting shoppers to more readily relinquish personal information.
“The good news is that U.S. consumers plan to spend more and are increasingly willing to share personal information to receive offers – but they remain focused on frugal bargain hunting,” said Jill Standish, senior managing director of Retail at Accenture. “The clear opportunity for retailers is to learn all they can about their customers and use these insights to provide the personalized and timely deals consumers are seeking. By optimizing inventory and marketing, they can increase the profitability of each customer visit to their store or website and maximize each click.”
More than half plan to shop online, but shipping remains a problem as shoppers cite shipping costs as their top source of frustration.
Good news for retailers with strong omnichannel capabilities: In-store delivery or pickup was the top feature that shoppers plan to take advantage, cited by 48 percent of respondents, up from 36 percent in 2015.
But Amazon is tightening its grip on shoppers and will be the top destination for research and price comparisons. The vast majority (84 percent) plan to check Amazon before looking or buying elsewhere.