Report: Online Consumers Plan to Spend Less in Stores for Holidays
New York City Online consumers intend to shop more through the Web this holiday season but less in stores, according to The Conference Board and TNS report.
Even though online shoppers plan to spend less in stores this holiday season, planned spending online is up slightly compared to the same quarter last year, the report said.
Online households planning to spend more than $500 in stores declined to 16% from 21% last year. Those planning to spend more than $500 online rose to 5% from 4% last season.
Those planning to spend between $100 and $499 in stores declined to 57% from 61% last year, while those planning to spend that amount online edged up to 36% from 35% last year.
Online households planning to spend less than $100 in stores increased to 22% from 16% last year. Those planning to spend that amount online rose to 32% from 29%.
Online sales across retail channels are forecast to grow 9% this holiday season, compared with a total retail sales forecast of just 1.5% growth this year in the key holiday shopping retail sectors. TNS Retail Forward forecasts online sales to reach $42.5 billion in the fourth quarter, up $3.5 billion from last year.
This holiday season, books, clothes, movies and toys will be the most popular items on the consumer’s Internet shopping list, the report said.