Online shopping has become more popular in recent years, but with the coronavirus pandemic, a recent poll finds a majority of shoppers are planning on buying most, if not all, of their holiday gifts online.
A new CreditCards.com survey shows more than two out of three of holiday shoppers — 71% — plan to do most of their seasonal shopping online this year. That’s up from just over half last year.
Though the holiday season may still feel far off, 46 million people, or 25% of holiday shoppers, have already started or plan to start their holiday shopping by the end of September, the survey said.
“Holiday shopping is going to look very different this year,” said CreditCards.com industry analyst Ted Rossman in a statement. “COVID-19 is accelerating the existing trends toward e-commerce and digital payments.”
And the trend is among all ages. Millennials are the most likely to say they’ll do their holiday shopping online, according to the survey. About 74% of people ages 24 to 39 said they plan to do most of their holiday shopping online. That’s compared to 70% of Gen X shoppers, who are ages 40 to 55, and 70% of baby boomers, ages 56 to 74.
Last year 50% of millennials, 55% of Gen Xers, and 54% of baby boomers did most of their holiday shopping online, the survey says.
Those who make more money are more likely to shop online, according to the poll. In the highest-income households (those who make $80,000 or more annually), 78% planned to shop online versus 70% of middle-income households that make between $40,000 to $80,000 annually. Of the lowest income households that make under $40,000 annually, 66% plan to shop mostly online, the survey reports.
Last year, 58% of the highest-income households, 48% of middle-income households, and 47% of the lowest-income households did most of their holiday shopping online, according to CreditCards.com.
Why are people planning to mostly shop online this year in greater numbers?
The top reasons were convenience at 69%. Abut 52% of people cited the desire to avoid human interaction; 45% pointed to better deals/prices at 46%; and 44% said wider product selection/inventory.