Professional consulting firm Deloitte predicts holiday sales in the range of $920 to $ 925 billion, indicating a 3.5 to 4 % increase compared to last year. Whatâ€™s special is that Deloitte forecasts that mcommerce or mobile use will influence revenues this holiday season.
Some highlights of Deloitte’s survey:
- Online sales through smartphones will rise to 5.1% or $36 billion the coming season.
- Up to 45 percent of shoppers surveyed said they planned to do their gift shopping online
- Shoppers with smartphones are 14 percent more likely to make a purchase in a store than those who do use smartphones for in-store shopping.
- Retailers can expect a 17% increase in non-store channels such as online, catalog and TV based on smartphone use for product research, price comparison or use of apps.
According to the Deloitte survey, for 47% of online customers, low prices are significant when shopping with a specific retailer. Also, 71% of the shoppers said they would shop with a retailer that offered free shipping, while 56% said they would be looking for free returns. The survey also points out that social media plays a vital role in online shopping. Among 48% of the customers surveyed half of them use social media sites to look for discounts, research gift ideas and to read product reviews.
Deloitte’s survey into the influence of smartphones on in-store sales indicates that the conversion rate of shoppers is up to 21% for those who use a retailerâ€™s dedicated mobile application. So this holiday season, retailers that are set to score will be those that provide Wi-Fi connectivity, branded applications and location-based promotions that would allow smartphone-toting shoppers to make an instant in-store purchasing decisions.