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Business Trends & Research Roundup: 2016 holiday shopping trends

November 17, 2016

What are the experts, surveys and latest research reports saying about small business and consumer trends? Welcome to our monthly roundup of research small businesses can use to do business better.

Consumer spending trends

  • Shoppers will spend approximately $590 on gifts this season on average, including 78% for family, 13% for friends and 4% for coworkers. 2016 Holiday sales are expected to increase 3.6% versus 2015. National Retail Foundation 2016 Consumer Survey

How consumers will buy

  • 38% of shoppers will spend at local, independent stores according to the 2016 Deloitte Holiday Survey. Nearly 3 in 4 shoppers say they will try “new/different stores or online retailers,” and most of them, 66%, said that new experience would be with a local store or business.

Related post: Like the big guys: Using mobile to maximize holiday shopping opportunities

  • 49% of Americans plan to use cash to pay for gifts this holiday season, which is 6% less than 2015 and 4% less than 2014. Millenials are more likely than the average American to use cash to purchase gifts (60%). Nerdwallet 2016 Consumer Holiday Shopping Report
  • Nearly 3 in 4 shoppers is concerned about security breaches during the holidays, but the vast majority are willing to shop with the retailer again if they take steps to regain consumer trust. 2016 Deloitte Holiday Survey 

Related post: How to protect your small business from cyber attacks

Related post: 5 surprising ways your payments processing can win you new customers

Where consumers will buy

Related post: The more holiday revenue, the merrier—it starts with gift cards

Related post: Let’s make a deal: Holiday promotions that won’t break the bank

 

[Image: “Last Day” by Antonio Roberts on flickr]

Clover is sold by leading U.S. banks including Bank of America, BBVA, Citi, PNC, SunTrust and Wells Fargo. You’ll also find Clover at our trusted partners including CardConnect, Restaurant Depot, and Sam’s Club. For more information, visit us at clover.com.