Online consumers intend to spend less in stores during this holiday season than last, but slightly more online – where they expect free shipping and deals not available in stores, according to The Consumer Internet Barometer from The Conference Board and TNS, reports Retailer Daily.
Online sales across retail channels are forecast to grow 9% this holiday season, compared with a total retail sales forecast of just 1.5% growth this year in the key holiday shopping retail sectors, according to TNS Retail Forward. It expects online sales to reach $42.5 billion in the fourth quarter, up $3.5 billion from last year.
Online households planning to spend more than $500 in stores declined to 16% from 21% last year.
Those planning to spend more than $500 online rose to 5% from 4% last season.
Those planning to spend between $100 and $499 in stores declined to 57% from 61% last year, while those planning to spend that amount online edged up to 36% from 35% last year.
Online households planning to spend less than $100 in stores increased to 22% from 16% last year. Those planning to spend that amount online rose to 32% from 29%.