Social Media

Digital advancements continue to drive a new approach to shopping, with social media and mobile phones are emerging as key influencers this holiday season, according to Deloitte's 24th Annual Holiday Survey of retail spending and trends.
Social media is growing with almost 20 percent of the consumers planning to use it during their holiday shopping. Consumers in all age groups plan to embrace social media over the holidays. While 52 percent of those who expect to use social media during the shopping process are in the 18-29 year-old age group, 33 percent are in the 30-44 year-old age group and 10 percent are in the 45-60 years-old age group.

The mobile phone is another emerging digital tool for the holidays that is expected to be used by nearly 20 percent of the consumers. Those consumers plan to find store locations, research prices, find product information, get discounts and coupons and read reviews.

Consumers have become much more cautious about their purchasing decisions, and these behaviors could have a lasting effect. As retailers shift gears for a recovery during the holiday season and beyond, they should consider seizing the opportunity to reinvigorate their brand and relevancy to consumers who have embraced a new consumption mindset. That may include new marketing, pricing and promotion strategies that focus on re-engaging the consumer and differentiating a retailer's merchandise and services.