Nielsen‘s 2016 holiday trend report which indicates that 19 percent of U.S. shoppers are planning to spend more time online shopping for this holiday season, an increase from 17 percent last year. [Read more...]
The Conference Board Consumer Research Center is expecting U.S. consumers to be more frugal this holiday season. According to a survey that was conducted for The Conference Board by Nielsen, U.S. households are expected to spend an average of $497 on gifts this holiday season. Only 7 percent of consumers said they plan to spend more on holiday gifts this year, while approximately 40 percent plan to spend less than last year.
Bargains will also be on consumers’ minds for the holidays. Four out of 10 holiday shoppers expect more than half of their purchases to be on sale or discounted. An additional three out of 10 expect a quarter to half of their purchases to be discounted. Additionally, almost two-thirds of consumers expect to buy some of their holiday gifts online, with 15 percent expecting to purchase more than half of their gifts online. The survey was conducted in October.
According to a new Nielsen survey, reported by Reuters, more than 40 percent of retailers reduced the number of different SKUs on their shelves last year, and nearly the same number expect to make additional cuts.
According to Nielsen, these cuts can help retailers lower costs, but shoppers may leave stores without making a purchase if they cannot find a specific item. In the Nielsen survey, it was reported that 7 percent of shoppers who did not find their desired personal-care item said they would leave the store without buying an item in the category, with some shoppers saying they would leave the store without buying anything. Nielsen reports that if just 0.5 percent of grocery shoppers were to leave a store without making a purchase, retailers could lose sales up to $1.5 billion.
Walmart recently reported that its program to overhaul stores hurt sales. Last year the retailer removed slower-selling items from shelves, and replaced them with more popular items. However, the company found that not offering some items drove shoppers to other stores. In March, the company said it returned approximately 300 items to U.S. store shelves.