In the wake of its insightful Holiday Outlook 2016 report, NetElixir has just published a new study examining consumer trends and preferences for this holiday shopping season.
All told, the 2016 Holiday Consumer Insights Report reveals gift giving trends, brand and shopping preferences for millennials and other demographics.
One of the study’s key findings is that the majority of consumers are planning to buy gifts through online marketplaces like Amazon and eBay (42%) and in-store (43%), while just 15% plan to purchase through retailers’ websites directly.
Of these consumers, the report authors note, 88.9% of the top earners with household incomes over $ 150,000 plan to shop through online marketplaces, while none in in that same income group expressed intent to buy through retailer sites directly.
When asked about reasons for choosing an online marketplace over a retailer’s website, ‘price’ was cited as the top reason with ‘trust’ and ‘variety of options’ coming in as the other top reasons, the study explains.
“Marketplaces have become dominant over the past couple of years, which is a trend that poses many challenges to retailers,” said Udayan Bose, CEO of NetElixir. “While marketplaces offer benefits like access to a huge customer base, retailers need to weigh these benefits against risks like commoditization and steep price cuts on their products when selling through such platforms.”
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