Online Shoppers Have Deeper Pockets; Plan to Spend More

November 24, 2009

This article is included in these additional categories:

Analytics, Automated & MarTech | Financial Services | Retail & E-Commerce

Active online buyers in the US – those who expect to spend more than 30% of their holiday budget online – have bigger budgets than other shoppers and are more likely to spend those dollars on Black Friday, according to results from a new study on consumer holiday shopping behavior by Compete, a TNS Media company.

The study also found that these active online buyers plan to spend twice as much throughout this holiday season ($912 on average) as other consumers who will do more offline shopping and who expect to spend less than 30% of their holiday budgets online.

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Nearly four in 10 (37%)? of the online buyers also say they’ll shop the day after Thanksgiving, compared with 33% of other consumers, the study found.

Additional survey findings:

  • 86% of shoppers have completed less than half of their total holiday shopping; 41% have not yet begun.
  • 90% of consumers will spend at least some portion of their holiday budget online this year, up from 84% in 2008.
  • 42% of consumers reported that they are likely or extremely likely to select an “in store pick up” option if available for holiday purchases.
  • 44% of consumers plan to spend less this holiday season compared with last year, while only 12% of shoppers anticipate spending more.

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“Many retailers are bracing for lower online sales, but our research shows that not all shoppers are created equal,” said Debra Miller, associate, retail and consumer products at Compete. “While most consumers say they’ll spend less this year, online shoppers seem to have deeper pockets and they’ll be looking for deals starting on Black Friday.”

An October/November analysis of online searches by Hitwise found that online shoppers are already out in force in search of Black Friday deals.

About the research: The Compete holiday shopping report provides survey-based insights into how consumers plan to shop and spend during the 2009 holiday season. The report was compiled from a comprehensive retail-focused survey of more than 2,900 consumers? and was fielded in November 2009.

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