One-third of consumers still have up to half of their holiday shopping left to do, study finds
Despite Christmas only being five days away, a new study by KPMG LLP found that nearly one-third of consumers still have up to half of their holiday shopping left to do, presenting a prime sales opportunity for both online and brick-and-mortar stores that can accommodate last-minute buys.
The audit, tax and advisory firm conducted the survey of over 1,000 consumers on December 11 through 12. The results found that 32 percent of shoppers reported to have 25 to 49 percent of their shopping left to do this year, while 37 percent of holiday shoppers reported having only 24 percent of their shopping left to finish.
According to the poll, a majority 59 percent of this last minute gift buying will be a combined effort of online and in-store shopping, while 15 percent of consumers will exclusively finish up their lists online.
Of course, this poses an excellent opportunity for retailers and brands with well-stocked last-minute gift options and lightning-fast shipping to excel at the season's finish line.
"As we get down to the last few holiday shopping days, consumers focus on convenience, including last minute delivery, and personalized products and services," said Mark Larson, national leader of KPMG's Consumer & Retail practice.
The poll found that the number one gifts left until the last minute were gift cards, with 59 percent of holiday shoppers saying they would leave these purchases for last, followed by clothing and accessories at 44 percent and toys and games at 38 percent.
In addition, the survey found that this holiday shopping season saw a Cyber Monday boost, with 69 percent of consumers participating in the e-commerce shopping holiday compared to last year's 58 percent. Spending on the day also shot up, with 59 percent of shoppers spending up to $250, and 24 percent spending between $250 and $500.
As for the season's star consumer event, 57 percent of 2018 Black Friday shoppers said that they spent money both online and in store, while 30 percent shopped only online. However, when it comes to total holiday shopping, 51 percent of consumers expect to do up to 50 percent of their shopping entirely online.
KPMG plans to conduct another survey in early 2019 in order to examine customer insights and experiences for the entire 2018 holiday shopping season, and to determine trends in the future.
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