FAST FIVE: 11.5% Of US Households Do Not Plan To Buy Holiday Gifts, More Than Twice The Normal
Higher-income households are planning to spend five times that of lower-income households, the study found.
However, six in 10 retail executives are worried about receiving their holiday orders in time.
Retailers are placing orders with confidence that consumers will be spending, as 33% of retail executives stated that holiday order volumes grew by double digits year-over-year.
The share of in-store spending is expected to rise to 33% in 2021 (up from 28% in 2020), although this is still below the 36% increase seen in 2019. Despite some recovery to in-store spending, digital continues to see healthy gains, with online spending expected to rise to $924, up from $892 in 2020.
In addition, 52% of consumers leverage influencer-generated content for inspiration while looking for gifts to buy.