With the 2018 holiday season just over the horizon, OpenX and The Harris Poll released the results on a nationwide survey examining consumer shopping trends. They found an overall increase in spending, with 80% of consumers planning to spend the same amount or even more on holiday gifts than they did in 2017. However, this money will not be spent in physical stores, but, as increasingly seen, through digital storefronts.
55% of consumers use their smartphones at least three hours a day, with a third of millennials and 25% of parents spending six or more. Millennials overall spent five times more time on a mobile device than watching TV, and are expected to make 25% of their purchases on mobile devices. It’s more important than ever for retailers to build omni-channel engagement programs on platforms that consumers actually view content on.
These consumer shifts aren’t just toward alternative platforms, but reflect changes in consumer perceptions. Less than half of surveyed consumers believe Black Friday is the best day for deals. 60% find the day overwhelming, holding strong negative associations with it, while a majority plan to skip it altogether in 2018.
OpenX Chief Brand Officer, Dallas Lawrence, talked about the shift towards online retailers in a press release, saying that, “Whether it’s the 1 out of 4 consumers who now make mobile purchases weekly from bed at night or the 10 percent who are now using smart speakers to help research holiday purchases, consumers are shopping in new and unique ways, relying on mobile in particular, and advertisers that have developed smart omni-channel strategies to reach the always on shopper will have the happiest holiday returns.”
