Compared with previous years, more than half of consumers (52%) said they are less likely to shop on Black Friday this year, half are less likely to shop on Thanksgiving and 42% are less likely to shop on Cyber Monday. But why? According to Accenture's 11th annual holiday shopping survey, there are at least four standout reasons for skipping the frenzy this holiday 2017.
- Two-thirds of respondents say they now shop for holidays year-round, so they have no need to pack in the deal shopping into one or two days. In fact, 4 out of 10 shoppers noted they can get discounts on other days of the year, such as Amazon Prime Day.
- About 64% of consumers said that crowds were keeping them from shopping on Black Friday.
- Consumers plan to spend less on gifts this year. Although total holiday spending is expected to increase, the number of shoppers who said they plan to spend more than last year dropped 11%.
- Finally, 54% of respondents plan to stay at home and do their holiday shopping online. Online is a preference for so many due to its convenience and easy checkout experience on mobile apps.
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Whether shopping on the big weekend or not, most consumers plan to do research before purchasing. Three out of four respondents said they will most likely research online before purchasing an item in a retail store.
Security will be a big concern for more than half of shoppers this holiday season. As many as 30% of shoppers said they will avoid brands that have recently had a security breach.
Survey data also found that for 64% of respondents, their shopping experience would be easier if they could get gift ideas for the holidays, and 54% said online wish lists improve the gift-buying experience.
Jill Standish, senior managing director of global retail at Accenture, said that winning over consumers will require retailers to be active, rather than passive, in providing shopping inspiration.
"For instance, by proactively offering gift recommendations for that special person, a retailer can influence purchasing before consumers check out Amazon or other e-tailers. And while technology has altered the retail experience for consumers and retailers alike, retailers must not lose the human touch. Those that succeed will balance human understanding and sensibility alongside digital prowess."