Enterprise software giant Oracle has released the results of a new consumer research study into holiday shopping trends.
The survey polled 5,728 global consumers, including 512 in the United States, in September 2021, asking consumers about their pandemic shopping habits and holiday shopping plans.
Fears about supply chain and delivery delays are leading 52% of Americans to have either already started or planned to holiday shop earlier than usual, with 44% of millennials intending to order more gifts in case some are delayed or cancelled. At the same time, 34% of people are saying they will buy more gift cards.
"As we see in the news, the supply chain challenges are a global reality. Regardless, consumers will still measure retailers on their ability to deliver on their wish lists this holiday season," said Mike Webster, senior vice president, and general manager, Oracle Retail.
Among the key findings of the survey were that:
- 28% of respondents are anxious that the products they want will be more expensive due to the scarcity
- 72% of respondents will have gifts delivered to their home (up from 64% in 2020)
- 36% of respondents say fast delivery determines whom they order from
"Accountability will be the name of the game. Retailers must have clear visibility into their inventory, a realistic timeline for the fulfillment, and a plan to communicate clearly throughout the order and delivery processes. Through transparency and execution, retailers can earn trust with their customers and build the potential for future loyalty," said Mike Webster.