Physical stores will be a crucial part of a strong holiday spending season.
According to the new Holiday Shopping Intentions Survey from the International Council of Shopping Centers (ICSC), holiday spending in 2019 will increase 4.9% from the previous year for a total of $832.3 billion. The average adult will spend $683 on holiday-related items.
The study also found that 90% of U.S. adults plan to shop in-store for gifts and other related goods, and 97% of holiday shoppers plan to shop with a retailer that has a physical presence. Promotions will drive in-store visits, with over 60% of respondents saying that searching for deals encourages them to make more trips to physical stores.
In addition, 82% of customers who pick up an online purchase in-store are likely to make an additional purchase while there. The survey also found that 87% of respondents plan to research online before going to stores, and 82% of respondents who have a mobile device will use it in-store to compare prices, get digital coupons and check inventory.
The majority of holiday shopping will take place between Thanksgiving and Christmas Day, with 86% of respondents planning to complete their shopping during that time period. Additionally, almost 60% of respondents plan to shop over Thanksgiving weekend, with that number jumping to 73% for millennial shoppers.