2020 Holiday Gift Giving Outlook
Given the uncertainty surrounding retail spending this holiday season, FTI Consulting conducted a consumer survey to understand the mindset of holiday shoppers.
The results offer insight into changing preferences, burgeoning trends, and the likely winners and losers from the fallout of COVID-19 and economic uncertainty. Three key customer insights will drive the holiday season:
- Consumers will spend less, as price and convenience are of utmost importance. One-third of individuals indicated that they would reduce spending by 10% or more.
- Consumers will shop online more than ever before. Nearly 80% of respondents answered “Yes” when asked if they were more likely to shop online relative to last year.
- Consumer preferences will impact product categories and retailers differently. Social distancing, work-from-home orders and an uncertain economy have caused us to change our priorities.
Most Popular Insights
- 10 Global Cybersecurity Predictions for 2024
- Global CFO Survey 2024
- Bridging the Gap Between Artificial Intelligence Implementation, Governance, and Democracy: An Operational and Regulatory Perspective
- The Power of Positive Paranoia: A Key Trait for Every CEO and General Counsel in 2024
- A Targeted Approach is Key to Implementing AI