A new independent survey revealed a cultural evolution is underway for the 2024 holiday shopping season and beyond, likely driven by the lingering effects of a global recession and the pandemic.
Today, the majority of global consumers are spending less than $1,000 total on gifts, shifting from traditional in-person holiday shopping to a fast, mobile-centric experience, completing holiday shopping in just under six hours.
The “2024 Holiday Shopping Trends Report,” commissioned by Celigo, ae leading integration platform as a service for business and IT users, surveyed 4,000 global consumers across North America and the U.K. about their 2024 holiday shopping plans, including priorities, destinations, price and delivery preferences, gift budgets, preferred shopping channels, optimal shopping times, gift return experiences and more.
Key survey findings highlight a new era in holiday shopping:
- Holiday Shopping Starts Later: Over half of the respondents will start their holiday shopping later this season, with 53% beginning in October—a noticeable shift from last year when nearly 50% started in September.
- Economic Factors Influence Spending: Despite reports of cooling inflation, shoppers are more price-conscious than ever, with 85% of respondents describing themselves as either “very price conscious” or “fairly price conscious” when holiday shopping this year. This tough economic climate has 62% of global shoppers planning to spend less than $1,000 this holiday season, up from 49% last year.
- The Rise of Mobile and Social Commerce: Younger consumers, particularly generation Z, are driving a continued shift to mobile and social media shopping.
- In fact, 67% of 18-to-24-year-olds and 65% of 25-to-35-year-olds will use their cell phones for holiday shopping, while nearly half of all consumers will shop for gifts on social media platforms like TikTok, Instagram and Facebook.
[Read more: Survey: It’s beginning to look like an omnichannel holiday shopping season]
- Opportunities for Independent Retailers: This year, the majority of shoppers will do more gift buying online, citing convenience, product availability and speedy delivery as the top reasons they will rely more on online channels as opposed to physical stores. Despite 73% of respondents stating they plan to choose Amazon and other online marketplaces for their holiday purchases, this shift in consumer preference presents an opportunity for independent retailers to thrive by offering what shoppers want most: dependable inventory, superior product quality and free guaranteed shipping.
“With economic pressures and inflation concerns still top of mind, consumers are dedicating far less time, money and resources to holiday shopping,” said Mark Simon, vice president of strategy at Celigo. “There is a significant shift toward last-minute online purchases and a growing emphasis on securing the best deals at the right time, which means that retailers must adapt to these evolving behaviors to meet the demands of today’s digitally savvy shoppers.”
The report also provides strategic recommendations to help retailers prepare for and capitalize on these emerging trends:
- Ensure on-time gift delivery with order management systems that can handle spikes in order volumes
- Connect all shopping channels with back-office systems for real-time inventory visibility and flexible shipping options
- Prioritize personalized product recommendations, targeted offers and superior customer support
- Invest in AI-driven solutions to optimize the customer experience
- Provide a seamless shopping experience on mobile platforms
- Optimize operations to reduce costs and gain more flexibility to offer key drivers of consumer decisions such as free shipping and returns
[Read more: Will holiday sales be ho, ho, ho or ho hum?]
Visit the Celigo website to download the full 2024 Holiday Shopping Trends Report and to access the new holiday assessment tool, an interactive tool designed to help retailers evaluate their preparedness for the upcoming shopping season.