With economic uncertainty tainting everyone’s holiday spirit, consumers are bracing to stay within their budgets — especially when it comes to holiday shopping. This year, experts say, gift-givers will find some of the best deals online.
“Online shopping will be second only to discount shopping for customers in terms of finding value for their money,” said Steve Lemelin, regional leader of consumer business for Deloitte. “For that very reason, it’s the multi channel retailers who are going to fare better this season.”
That means retailers with both brick-and-mortar locations and a Web presence will benefit the most, especially if their online incentives include steep price cuts, cash rebates and free extras, such as shipping.
For people who abhor the holiday crowds, online shopping has always been a refuge for its speed and convenience. These veteran online shoppers should expect more competition this time around from a new crowd seeking better prices, faster comparison shopping and online-only offers — and then some. In this season’s tough economy, experts expect online consumers to be increasingly reluctant to pay for shipping and more proactive about asking for discounts, incentives and coupons. In some cases, consumers will hold off buying until they’re sure prices have hit rock bottom and won’t succumb to impulse buys.
“People are smarter about doing their research before heading out,” said Pam Goodfellow, senior analyst for BigResearch, a consumer market intelligence company that works with the National Retail Federation.
Still, Scott Silverman, executive director of Shop.org, said online retailers have their work cut out for them in the weeks ahead.
“Online retailers are resilient, but not immune, to the challenges of this holiday season,” Silverman said.
Despite forecasts of flat to declining retail store sales this holiday season, the predictions are more optimistic for online shopping, which is expected to grow by as much as…