COVID-19 & 2020 Holiday Shopping Season – Study
With holiday season upon us, COVID-19 has already changed the way we shop and will undoubtedly continue to do so during this year’s holiday shopping season.
This study focuses on discovering how consumer shopping behavior has changed due to COVID-19 and the impeding ramifications on the 2020 holiday shopping season in the United States. Through our data, DealAid tried to gage consumer sentiment and uncover where, when and how American consumers are planning to spend their budgets during this year’s holiday shopping season.
Below you will find the key findings of this survey study. A further breakdown of the data can be found after the key findings section along with the methodology and demographics. You can skip to each section by clicking on one of the buttons below.
KEY FINDINGS
90.3% of consumers shop more online due to COVID-19 since the start of the pandemic.
2019
87.4% of consumers shopped in-store during the 2019 holiday shopping season.
On average, consumers spent $360 in-store during the 2019 holiday shopping season.
2020
60.2% of consumers plan to shop in-store during the 2020 holiday shopping season.
On average, consumers expect to spend $276 in-store during the 2020 holiday shopping season.
2020 vs. 2019 In-Store Holiday Season Shopping
31.1% less consumers expect to shop in-store during the 2020 holiday shopping season compared to 2019.
2020 vs. 2019 In-Store Holiday Season Spending
Consumers expect to spend 23.3% less in-store during the 2020 holiday shopping season compared to 2019.
2019
96.1% of consumers shopped online during the 2019 holiday shopping season.
On average, consumers spent $558 online during the 2019 holiday shopping season.
2020
97.1% of consumers plan to shop online during the 2020 holiday shopping season.
On average, consumers expect to spend $654 online during the 2020 holiday shopping season.
2020 vs. 2019 Online Holiday Season Shopping
Only 1% more consumers are expected to shop online during 2020 holiday shopping season compared to 2019.
2020 vs. 2019 Online Holiday Season Spending
Consumers expect to spend 17.2% more online during the 2020 holiday shopping season compared to 2019.
In-Store
38.8% of consumers who plan to shop in-store expect to spend most of their 2020 holiday shopping budgets at Target.
4.9% of consumers who plan to shop in-store expect to do the majority of their 2020 holiday season shopping on ‘Black Friday and Black Friday Weekend’.
On average, consumers who plan to shop in-store on ‘Black Friday and Black Friday Weekend’ expect to spend $238.
Online
86.4% of consumers who plan to shop online expect to spend most of their 2020 holiday shopping budgets at Amazon.
25.2% of consumers who plan to shop online expect to do the majority of their 2020 holiday season shopping on ‘Black Friday and Cyber Monday’.
On average, consumers who plan to shop online on ‘Black Friday and Cyber Monday’ expect to spend $483.
ONLINE SHOPPING SHIFT DUE TO COVID-19
According to our data, the overwhelming majority of consumers (90.3%) reported that their online shopping frequency has increased due to COVID-19 while only 9.7% reported that it didn’t.
Among those who reported an increase in online shopping, Household Items and Food & Groceries were cited as the items that saw the biggest increase. Other items that were more frequently purchased included Clothing & Accessories at 17.6%, Consumer Electronics at 13.1% and Beauty & Cosmetics at 12.5%. Other responses also included Furniture, DIY, Entertainment and Recreational Products.
Price (79.7%) and quality (65.5%) are the two most important factors that Gen Z consumers consider when making a purchase in-store. Availability of sales was as also cited by 41.6% of Gen Z consumers as an important factor that is considered.
No Commuting and Time Saved were cited as the biggest benefits of having to do more shopping online at 31.1% and 30.1% respectively. Online Discounts, Large Product Selection and No Social Interactions were also cited by consumers as beneficial aspects of increased online shopping due to COVID-19.
39.8% of consumers indicated that Not Being Able To Touch & See Products In Person is the worst aspect of having to do more online shopping while another 20.4% and 24.3% indicated that Long & Unreliable Delivery and Lack Of In Stock Items, respectively, are the worst aspects of increased online shopping.
COVID-19 & IN-STORE SHOPPING DURING HOLIDAY SEASON
Only 60.2% of consumers plan to shop In-Store during 2020 holiday shopping season. This number represents a 31% drop compared to 2019 during which 87% of consumers shopped In-Store.
83.2% of consumers who are not planning to shop in-store during 2020 holiday shopping season cited COVID-19 as the main reason why.
The average spent in-store during 2020 holiday shopping season is also expected to decline by 23.3% from $360 in 2019 to $276 in 2020.
Consumers who are planning to shop in-store expect to do the majority of their shopping either prior to Thanksgiving (28.6%) or Throughout December (50.6%). Only 6.5% of consumers who plan to shop in-store will spend the majority of their holiday budgets on Black Friday.
Target, Walmart and Costco were most frequently cited as the top retailers where consumers plan to spend the majority of their in-store holiday shopping budgets at 38.8%, 25.9% and 17.9% respectively.
70.6% of Millennials plan to shop In-Store during 2020 holiday shopping season.
Millennials are 17% more likely to shop In-Store during 2020 holiday shopping season than the average consumer.
COVID-19 & ONLINE SHOPPING DURING HOLIDAY SEASON
97% of consumers plan to shop Online during 2020 holiday shopping season. This is relatively unchanged compared to 2019 during which 96% of consumers shopped Online.
However, the average amount spent online during 2020 holiday shopping season is expected to increase by ~17% from $558 in 2019 to $654 in 2020 (average).
Consumers who are planning to shop online expect to do the majority of their shopping either prior to Thanksgiving (30.1%) or Throughout December (33%). Black Friday and Cyber Monday were cited equally at 12.6% each.
86.4% of consumers indicated that they plan to spend the majority of their online budgets at Amazon during 2020 holiday shopping season. Other retailers cited were Walmart and Target at 2.9% each.
99.8% of Millennials plan to shop online during 2020 holiday shopping season.
91.2% of Millennials plan to spend the majority of their online holiday budgets at Amazon.
SURVEY METHODOLOGY & DEMOGRAPHICS
For the purpose of this study, we surveyed 1040 US consumers to find out the overall consumer sentiment towards the 2020 holiday shopping season and gage the impact that COVID-19’s might have on consumer behavior in America. The survey was conducted through SurveyMonkey services.
The demographic composition of the 1040 individuals surveyed is as follows.
WRAP UP
Based on the data we collected, 2020 holiday shopping season will see less people in-store and larger average orders online. While many consumers have increased the frequency of their online shopping, the lasting impact of COVID-19 on consumers’ shopping behavior remains to be seen.
Here are some other useful resources with respect to COVID-19’s impact on consumer shopping behavior:
The increase in online sales due to COVID-19 is a given but it’s good to have specific % change and numbers for the holidays. Keep it up!