Walmart, Target most popular for in-store holiday shopping: report
- Indicating a resurgence in in-store shopping, Jungle Scout’s survey of 1,000 U.S. consumers found that 56% of respondents are shopping at Walmart for their in-store purchases, followed by Target (29%) and Amazon Go or Amazon Go Grocery (17%). Over two-thirds of shoppers (67%) are shopping at Amazon for their online holiday purchases, followed by Walmart.com (36%) and Target.com (18%).
- More than half (57%) of respondents said they shopped on Black Friday this year, and 43% shopped on Cyber Monday. Over a third (34%) of consumers made their holiday purchases during Amazon Prime’s Early Access sale in October, followed by 32% who shopped during Walmart’s Rollback Sale and 22% who shopped during the Target Deal Days event, the report found.
- Out of the 33% of shoppers who are cutting their holiday expenses, 59% said they were reducing their holiday gift budget and 20% are buying fewer holiday decorations, per the report. The majority of consumers (67%) expect to spend under $500 on holiday-related expenses this year.
Like other recent reports, Jungle Scout’s report suggests that while consumers are shopping in-stores for the holidays again, inflation woes are curtailing seasonal celebrations.
Other research pointed to consumers returning to physical stores for this year’s holiday shopping. A JLL survey found that nearly two-thirds of shoppers planned to buy some of their holiday goods in brick-and-mortar stores, an increase from 58% in 2021. In preparation, retailers have been investing in their in-store merchandising in hopes of boosting sales.
But as consumers divided their time between in-store and online shopping, they also were more mindful of their budget this year. A Deloitte survey noted that 37% of U.S. households felt their financial outlook was worse than in 2021. Another survey from ICSC found that 48% of the respondents wanted to shop early this year to find discounts and promotions.
Jungle Scout’s research also shed light on where shoppers have looked for gift inspiration. While a quarter of millennials and 23% of Gen Z consumers searched social media for gift ideas, only 8% of Gen X respondents and 7% of baby boomers said the same. Among the top platforms where shoppers plan to look for gift inspiration are Facebook (70%), Instagram (69%), TikTok (67%), YouTube (57%) and Twitter (43%), according to the report.
“Consumer expectations and priorities will shift in 2023, as inflation continues to impact spending,” Michael Scheschuk, president of small and medium business at Jungle Scout, said in a statement. “As e-commerce advances, consumers will seek personalization at every stage of the customer journey. Brands should diversify sales channels and consider expanding into social commerce through popular platforms like TikTok, allowing them to engage with new audiences in more authentic and memorable ways.”