NEW YORK-Expect shoppers to display caution and a nose for the biggest deals as they seek out gifts during the holiday season, according to the findings from Booz & Co.’s Holiday Retail Outlook 2012.
Based on a survey of some 1,600 consumers, retail store staff and retail executives, the survey found that 52 percent of consumers will closely consider affordability in making their purchase decisions. Also, 73 percent of consumers expect to find “great deals” this season, compared to 62 percent in last year’s survey. At the same time, 53 percent of consumers intend to buy at least one luxury item (up from 41 percent last year), and that item is likely to be one the whole family can enjoy.
The study also found that retailers can expect in-store competitive browsing, heavy online shopping and downloaded gifts as among the top shopper behaviors during the upcoming holidays. Nicholas Hodson, partner in Booz & Co.’s Consumer & Retail practice, said of the results, “Retailers will need to adjust their holiday sales strategies to embrace an evolving consumer mindset, favoring a more seamless shopping experience through smart phones and in-store opportunities.”