Many consumers are adjusting holiday shopping, travel and
vacation plans due to heightened concerns about the COVID-19
pandemic globally
ARMONK, N.Y., Nov. 17, 2020 /CNW/ -- While the holiday
shopping season will be different in many ways due to the COVID-19
pandemic, sustainability is still top of mind for many global
consumers, according to the latest findings of a global IBM (NYSE:
IBM) Institute for Business Value study.
54% of global consumers surveyed reported they are willing to
change their holiday purchasing habits to help reduce environmental
impact. This perspective was even more prevalent in some countries
around the world, notably India
(74%), Mexico (74%) and
Brazil (66%). That is only
slightly fewer than the 57% who reported similarly in a
January 2020 IBM/NRF study of
almost 19,000 consumers.
Despite the disruption to many consumers' budgets and employment
caused by COVID-19, shoppers are looking for more than just a good
deal. 44% of consumers surveyed reported they will be considering
sustainability to a great extent when shopping or choosing a brand
this year.
The study "Home for the Holidays" includes insights from more
than 12,500 consumers in October across Brazil, Canada, Germany, India, Mexico, Spain, the United
Kingdom and the United
States. It revealed how consumer outlook and shopping,
travel and vacation plans are shifting globally amid COVID-19.
"The research shows more consumers have started their holiday
shopping earlier than in prior years, and many plan to shop online
instead of in-store given rising cases of COVID-19. While last year
60% of shopping was done in-store and almost 30% online, this year
those numbers may be nearly reversed," said Jesus Mantas,
senior managing partner, IBM Services. "Businesses should be
prepared to provide a personalized digital-first platform to
engage customers, and use technologies such as Cloud and
Artificial Intelligence to help them handle fluctuations in demand,
manage their supply chains in near real time, and create a better
experience to serve holiday shoppers' needs."
Online shopping will continue to reign supreme
IBM's latest holiday forecast is projecting a 1.8% increase in
November-December retail sales compared to 2019. And IBV
survey research suggests 2020 will be a digital-first shopping
holiday season.
More than 60% of global consumers surveyed indicated that they
plan to buy online, ship to home or other destinations, or buy
online and pick-up in-store or curbside, with the highest growth in
usage for buy online, ship to home or other destinations among Baby
Boomers (ages 55-70+) -- +116% compared to last year. According to
the report, while 62% of consumers surveyed shopped in-store last
year for the holidays, only 28% plan to do so this year.
When choosing gifts, consumers surveyed reported they are
leaning towards products over experiences. Many survey respondents
said they will spend more on digital/streaming entertainment (+39%
over last year), furniture (+33% over last year), electronic goods
(+13% over last year) and toys and games (+9% over last year).
Consumer concerns about the COVID-19 pandemic will impact
travel and vacation plans
Concerns about the COVID-19 pandemic remain high, according to
the study. In the US, 72% of consumers surveyed are concerned about
a second wave of COVID-19 in 2020 (65% in September), and 74% say
the COVID-19 pandemic has made them more concerned about the health
and safety of their family (67% in September).
With these concerns top of mind, many consumers report changes
to their typical travel and time off plans this holiday season.
- Over half of consumers surveyed who usually travel during the
holidays say they plan to travel less this season, and 22% surveyed
are still undecided about their plans
- 67% of consumers surveyed who will travel indicate they will
use a personal car or rental car as their primary method of
transportation.
- Surveyed employees report they have taken slightly more days
off this year than they did by this time last year, and indicated
COVID-19 was a major reason for taking time off this year,
including caring for family and self.
- Globally, a third of employees surveyed reported they face work
constraints that limit their ability to take their remaining paid
time off this year – either too much work or schedule restrictions
at work – indicating employers could play a role in easing employee
burnout.
The IBV has conducted ongoing research surveying more than
80,000 global consumers since April about how COVID-19 has
impacted their outlook and preferences.
About IBM Institute for Business Value
The IBM Institute for Business Value (IBV) delivers trusted
business insights from our position at the intersection of
technology and business, combining expertise from industry
thinkers, leading academics, and subject matter experts with global
research and performance data. The IBV thought
leadership portfolio includes research deep dives,
benchmarking and performance comparisons, and data visualizations
that support business decision making across regions, industries
and technologies. Follow @IBMIBV on Twitter, and to receive the
latest insights by email, visit: www.ibm.com/ibv.
Media Contact:
Michelle
Mattelson
IBM External Relations
morrison@us.ibm.com
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SOURCE IBM