Keisha Virtue: Embracing the Holiday Shopping Experience
As we approach the holiday season, shoppers are not deterred by economic concerns and are seeking out experiences over material goods. This is according to JLL’s recent Holiday Shopping Survey Report for 2023, which surveyed over 1,000 consumers.
The survey found that on average, shoppers plan to spend $958 per person this year with a significant portion dedicated to holiday entertainment such as dining out and attending live performances. In fact, more than 90% of respondents indicated they prioritize experiences when it comes to their holiday shopping.
According to Keisha Virtue, Senior Analyst of Research at JLL , this emphasis on experience is a notable trend compared to previous years. Dining out and going to movies were among the top planned activities for shoppers while traveling and visiting “eatertainment” venues were also popular choices.
In addition, while online shopping continues its upward trend with three-fourths of respondents planning on ordering items for home delivery; physical retail still holds strong appeal with approximately half of Gen Z (ages 18-29) planning on shopping in malls this year.
Virtue also noted an increase in self-gifting as a growing trend among consumers this year. More than three-quarters of those surveyed said they plan on buying something for themselves during their holiday shopping trips.
For retailers looking ahead at how best prepare for the upcoming season based off these findings:
– Apparel remains one of top categories targeted by shoppers along with electronics.
– Movie-themed toys will be popular gifts especially Super Mario Bros., which was cited by over one-thirdof respondents.
– Mass merchandisers like dollar stores continue draw consumer interest along clothing stores making them prime locationsfor store openings.
– Social media platforms like Facebook or Instagram can serve as effective channels reach potential customerswith TikTok gaining popularity among younger demographics specifically .
Overall it appears that despite any economic uncertainty or inflationary pressures,the holiday shopping season is shaping up to be a fun and experiential one for consumers.
