The leaves have barely started to change, and we already know a lot about this year’s holiday season. With household incomes and employment steady, many consumers have shared that they are ready to start their holiday preparations and get shopping, spending the same or slightly more than they did during last year’s record holiday season.
While spending will only show a moderate increase this year, shoppers’ preferences are evolving with a new year. Today’s headlines reveal the many social and economic forces at play that will continue to shape the retail landscape and influence consumer behavior. So while consumers will be spending about the same as last year, how and what they buy may change.
Here is a breakdown of this year’s holiday shopping trends:
Young consumers will demand green.
Young people in the U.S. and around the world have shown they are willing to act against climate change. Nearly half of college students have said they want to consume responsibly. Clearly the demand for green products and sustainable shopping experiences will be high this season.
Younger consumers will show their loyalty to retailers with the same values, whether that’s selling vegan products or reducing plastics. Considering 92% of young millennials (age 24-27) will spend more this holiday season than they did last year, retailers should highlight their environmentally friendly offerings and display sustainability efforts in plain sight of their customers both online and in stores.
Read more about how sustainability, values and community are what consumers want from retailers this holiday season from Forbes contributor Steven Barr online HERE