Interactive
19 October 2021
19 October 2021

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Holiday shopping—establishing the next normal

Holiday shopping—establishing the next normal

Consumers and retail executives have adapted to the next normal. Four key insights emerged from our survey. Spending is up YoY, buoyed by high-income households. Digital remains strong, and as health- and safety-related anxiety lowers, consumers are returning to experiences. However, supply chain concerns and inflation expectations are casting a shadow on holiday cheer.

Consumers and retail executives have adapted to the next normal. Four key insights emerged from our survey. Spending is up YoY, buoyed by high-income households. Digital remains strong, and as health- and safety-related anxiety lowers, consumers are returning to experiences. However, supply chain concerns and inflation expectations are casting a shadow on holiday cheer.

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INSIGHT 1 OF 4

Sentiment: All is bright … for high income

Sentiment
All is bright … for high income

Consumers in stable financial situations and retail executives plan for a comeback

Average holiday spend increased to $1,463, up 5% YoY, aided by a return to experiences. High-income households are driving the uptick in holiday spend while lower-income households continue to struggle. Of those planning to skip shopping, 65% are from low-income households.

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DI_Holiday-retail_charts_Chart DI_Holiday-retail_charts_Chart
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INSIGHT 2 OF 4

Consumer behavior: Dashing through the stores

Consumer behavior
Dashing through the stores

Consumers in stable financial situations and retail executives plan for a comeback

In-store shopping regains some lost ground, but digital adoption is now a holiday habit. Consumers continue to seek out conveniences, with 73% choosing standard delivery, and BOPIS and curbside pickup exceeding prepandemic levels.

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DI_Holiday-retail_charts_Chart DI_Holiday-retail_charts_Chart
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INSIGHT 3 OF 4

Supply chain: Delivery time is frightful

Supply chain
Delivery time is frightful

Consumers in stable financial situations and retail executives plan for a comeback

Shipping delays and stockout concerns are prevalent, with 64% of retail executives worried about not receiving inventory on time and 75% of shoppers concerned about stockouts.

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DI_Holiday-retail_charts_Chart DI_Holiday-retail_charts_Chart
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INSIGHT 4 OF 4

Inflation: It’s beginning to look a lot like markups

Inflation
It’s beginning to look a lot like markups

Consumers in stable financial situations and retail executives plan for a comeback

Getting a great deal is a top driver for 60% of consumers but bargains may be hard to find with 5 in 10 retail executives expecting prices to increase this holiday season. Almost 7 in 10 consumers hold the same expectation.

DI_Holiday-retail_charts_Chart DI_Holiday-retail_charts_Chart
DI_Holiday-retail_charts_Chart DI_Holiday-retail_charts_Chart
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Sentiment

All is bright… for high income

Consumers: Although 78% reporting stable financial situations, high income groups responsible for nearly all gains in average spend (+5% yoy); low- income groups spend decreases for 2nd year

Retail executives: Upbeat outlook with 7 in 10 expecting consumers to spend more YoY

Consumer

Evolving into the next normal

Consumers: Pre-pandemic behavior is on the rise including socializing away from home (up 28% YoY), but digital trends here to stay



Retail executives:
Betting on consumer returning; holiday inventory orders up single digits for 4 in 10, up double digits for 3 in 10

Supply chain

Delivery time is frightful

Consumers: Concern for stockouts (75%) and shipping delays will likely motivate shoppers to start earlier YoY



Retail executives:
6 in 10 worried about receiving holiday orders on time; majority expect holiday shopping to start 1-2 weeks earlier

Inflation

It’s beginning to look a
lot like markups

Consumers: 68% expect higher prices this season, hitting lower income groups especially hard



Retail executives:
Consumers should expect higher prices as depth of promotions won’t negate higher prices (5 in 10)

R e a d

Shopping preferences are shifting as consumers and retailers navigate the second holiday season of the pandemic. Average holiday budget has increased, but lower-income shoppers are dropping out. What does this mean for retailers?

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L i s t e n

High-income shoppers are ready to spend, but will the products they want be there for them? Deloitte’s Rod Sides and Stephen Douglas share what to expect from this year’s holiday shopping season.

On the pulse

2021 Deloitte Pre-Thanksgiving pulse survey findings

2021 Deloitte
Pre-Thanksgiving pulse
survey findings

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Prepare for
take-off

2021 Deloitte travel survey findings

2021 Deloitte travel
survey findings

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Get connected

Contact industry leaders

Contact our industry leaders

contactUS

Rodney R. Sides

Vice chairman & US leader

Retail & Distribution

Deloitte LLP

rsides@deloitte.com
contactUS

Stephen Rogers

Executive director

Consumer Industry Center

Deloitte Services LP

stephenrogers@deloitte.com
contactUS

Lupine Skelly

Retail, wholesale & distribution
research leader

Consumer Industry Center

Deloitte Services LP

lskelly@deloitte.com