Survey finds 83 percent of shoppers think “fast” shipping means delivery within two days.
Consumers are getting more impatient for their orders, according to the results of Deloitte’s 31st annual holiday consumer spending survey. While last year, 63 percent of shoppers said that “fast” shipping mean delivery within three-to –four days, that figure dropped to 42 percent this year. Now, 83 percent of respondents said that “fast” shipping means delivery within just two days. And fast is not enough: 71 percent of shoppers also reported that they plan to take advantage of free shipping opportunities to complete their holiday shopping.
This year, Deloitte says, retailers should anticipate record-breaking web traffic. Half of those surveyed said that they plan to shop online for gifts, up from 45 percent in 2015, and online shopping channels now have a 7-percentage-point lead over discount department stores, which are the most popular in-store destinations. Nearly one-third of consumers plan to shop at traditional department stores this season, while 26 percent say they will shop off-price stores and 23 percent will hit the outlets.
This year also marks a significant turning point in customer buying habits: for the first year, consumers say they will spend 47 percent of their holiday budgets online, matching their spending at physical stores. While PCs are still the instrument of choice for most online purchases, mobile commerce continues to gain ground, as shoppers anticipate that mobile devices will comprise some 10 percent of holiday purchases, and 43 percent of smartphone owners plan to make purchases on their devices this season.
Shoppers are also increasingly looking for deals, whether they come in the form of sales, coupons or bundled packages, or free shipping. In fact, Deloitte found, thirty-three percent of purchases will be tied to a sale or promotion this year.
As the study states, “Enticing promotions and sales are not the only strategies retailers can use to boost sales this holiday season. They can also sway purchase decisions through well-thought-out retail policies such as flexible payment options, free shipping, hybrid shipping options, and hassle-free returns.”
Free shipping is the number one consideration for this year’s respondents, and shipping policies can be the key differentiator between online retailers. Amazon Prime has definitely had a lasting impact on ecommerce, creating an expectation on the part of consumers that now all online retailers are challenged to meet. Not only do shoppers want their products faster, they also expect to pay less for same-day, next-day, and two-day shipping this holiday season than last year.
And free and/or easy returns (48 percent) and price matching also topped the list for respondents.
