Shoppers prefer their gifts shipped for free rather than fast. Most will pay more for an item that doesn’t harm the environment. And if a retailer wants their personal details, shoppers want a discount or perk in return.
Those are a few of the findings from consultancy Deloitte’s annual holiday survey, which looked at the preferences of shoppers as they head into a holiday season it and other industry watchers expect to be particularly strong with unemployment low and consumer confidence high.
Among the report’s highlights:
FREE MATTERS MOST
Despite the race among some retailers to offer same-day delivery, shoppers are willing to wait a little while to avoid paying shipping fees. The survey found that 88 percent of respondents said that free shipping mattered more than getting their packages quickly. And 66 percent said they were willing to wait 3 to 7 days so long as the delivery was free.
WILL PAY TO PRESERVE THE PLANET
Nearly 7 out of 10 shoppers will pay more for items that leave a lighter footprint on the environment, but that desire is highest among the young. Among the teens and young 20-somethings that make up Generation Z, 87 percent say they’re willing to pay a higher price for sustainable merchandise as compared to 59 percent of Baby Boomers.
PRIVACY VS. PRICE
Among those surveyed, 42 percent said their personal information had been breached at some point, and 77 percent said they were concerned about retailers that have suffered data breaches.
Yet, among those worried customers, 46 percent said they would shop with the affected company again if it took steps to address their fears. And 61 percent of respondents said they would like a promotion or deal in exchange for sharing their personal data.
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“I think the consumer is getting more comfortable with retailers maintaining some of that data,” says Deloitte retail practice leader Rod Sides. And, “I think they’re more wiling to share if there’s an incentive for them….You’ve got a couple generations that have grown up that way. So much of their lives is exposed online, they don’t see the incremental risk.”
But there’s a limit to the kind of information shoppers want retailers to have, with 56 percent more comfortable with providing their gender and 44 percent willing to note their race, versus only 16 percent wanting a store chain to know their financial history.
The importance of promotions is borne out by another of the survey’s findings, with 82 percent of gift buyers saying they are likely to be swayed by the offering of a price cut or complimentary gift.
Deloitte has forecast that retail holiday sales will rise between 5 percent to 5.6 percent this year as compared to 2017, surpassing $1.1 trillion not counting cars and gas.
And online sales in particular are expected to make a significant leap of between 17 percent to 22 percent, up from 16.6 percent last holiday season. Those sales, made by clicking or tapping a button on a tablet, laptop or smartphone, would amount to between $128 billion to $134 billion.
