Andrew Vernon, November 29th, 2017
Holiday shopping is increasingly migrating online, according to the 2017 C-CUBES™ Benchmark Retail Study. This is the first consumer holiday report conducted by Mays Business School at Texas A&M University.
In 2016, about half of the participants (52 percent) did more than 40 percent of their holiday shopping online. This year, 62 percent plan to do more than 40 percent of their holiday shopping online. The vast majority of all consumers intended on shopping both store aisles and via digitally engaged devices, with fewer than 10 percent of respondents planning to only patronize physical stores.
This shift in consumer buying behavior is most affecting fashion products such as clothes and shoes, which top many wish list items at Christmas. About one in three respondents (34 percent) shop for these goods online.
The study is based on a nationally representative online survey of 5,881 adults conducted during October through November 2017. The margin of error is +/- 1 percent at the 95 percent level of confidence.
“Shoppers are the most clear about their shopping preferences during the holidays because of the planning it requires. These changes are here to stay,” said Shrihari Sridhar, Center for Executive Development Professor of Marketing at Mays Business School. Particularly retailers dealing in trend-influenced goods – like apparel, shoes, and jewelry – need to develop stronger digital options, because customers find online shopping to be a time saver and value generator.”
The 2017 C-CUBES™ Benchmark Retail Study was conducted by the Collaborative for Customer Based Execution and Strategy. Mays’ Center for Retailing Studies and the R.C. Barclay Endowed Library Fund sponsored the research, which analyzed shopping preferences across several consumer categories including fashion merchandise, grocery, health/beauty, office supplies, and pharmaceuticals. The goal of the study is to provide an evidence-based approach to incorporate the customer’s perspective in strategic planning and execution for retailers. “The report confirms that consumers are rapidly transitioning their holiday shopping from brick-and-mortar stores to online purchasing. The findings should guide retailers to invest in omnichannel capabilities, such as in-store apps, social media platforms, and efficient product search,” added Sridhar.
This is the first of five planned trend reports based on the survey. On April 11, 2018, the Center for Retailing Studies will host a half-day seminar in Houston for business executives to explore the findings in-depth.
For more information, contact:
Kelli Hollinger, Director, Center for Retailing Studies