Written by: Sheryl Kingstone, Research Vice President & General Manager - VOCULThe holiday season is right around the corner and so are the notorious shopping holidays of Black Friday and Cyber Monday. According to our
Voice of the Connected User Landscape survey, 80% of respondents plan to spend the same as the previous year and the remaining 20% plan to modify their spending. Whether those modifications involve an increase or decrease in spending is difficult to determine based on trends with those respondents being almost evenly split – with 38% expected to spend more than last year and 45% expected to spend less.
With this in mind, we don’t anticipate
how much people are spending to be of great interest, but rather
where people are buying what they need this holiday season. According to our
Global Unified Commerce Forecast, there could be nearly $6 trillion in global digital commerce sales by 2022 up for grabs. That is still a ways away, but digital commerce is still anticipated to dominate holiday spending shopping behavior with 42% of respondents planning to do most of their shopping online rather than in store – a 27% increase in online spending from last year. Additionally, 47% of high-income shoppers will do the majority of their shopping through digital commerce channels.