More than three-fourths (76% to be precise) of millennials plan to shop online this holiday season.
These consumers, ages 18-34, also say they plan to spend $1,427 on gifts during the holidays, a 33% increase from the $1,072 they said they intended to spend during the same period of 2015, according to a study from advertising firm Rubicon Project. The study surveyed 1,003 U.S. consumers about their holiday shopping plans.
More than a quarter (28%) of millennials say they did not plan to shop in a physical store at all during the months of November and December, according to the study. Among survey respondents of all ages, 22% say they don’t plan to shop in stores during the holiday season.
As for the 76% of millennials who plan to shop online this holiday season, , and most will likely do so at web-giant Amazon.com Inc., No. 1 in the Internet Retailer 2016 Top 500 Guide. The study found that 67% of millennials say they will shop on Amazon for holiday gifts.
This online-only shopping trend correlates with data from financial services provider Citi Retail Services, a division of Citigroup, which estimates that only 68% of millennials will visit a store during the holiday season, based on a survey of 1,000 U.S. adults conducted in October. This study also finds that 52% of holiday gifts will be purchased in stores and 48% will be purchased online..
Surveys of millennials show that their online shopping is increasingly conducted on smartphones. The Rubicon study reveals that 58% of millennials will shop on mobile devices for holiday gifts, and 21% say they will make at least half of their holiday purchases on a mobile device.
Payments processor Visa Inc. also predicts millennials will turn to their smartphones for holiday shopping. Members of the younger generation will spend 22% of their holiday gift budgets using a mobile device, according to Visa’s “2016 Holiday Shopping Forecast.” Overall, Visa predicts that mobile devices will grab more than 15% of all holiday shopping sales this year.
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