Holiday shoppers will spend 25% more this holiday — an average of $870 — compared to last, as consumers will be "revenge shopping," according to a JLL annual holiday survey.

"For many consumers, there is a pent-up demand for in-person shopping and experiences after the hiatus brought forth by the pandemic," stated a release on the survey findings.

JLL forecasts 58% of shoppers plan to shop in stores or some form of shopping involving a physical store, 34% will buy online, pick up in-store and 22.6% will take advantage of curbside pickup.

"Consumers are eager to return to in-person shopping this holiday season — immersing themselves in the holiday spirit to dining after a long day of shopping. It's a full holiday experience that many shoppers look forward to," Greg Maloney, president, JLL Retail, said in the release. "And, it's refreshing to see that in-person dining and enclosed malls are at the top of consumers' destination lists.".

"Revenge shopping from the pandemic feels personal this year, too, with consumers ready to treat themselves this holiday season," Naveen Jaggi, president of retail advisory services, JLL, Americas, said in the release. "JLL's holiday survey results show more than 70% of shoppers plan to self-gift this year, with clothing and shoes taking the top categories as consumer wardrobes continue to evolve as workplaces reopen and vacations are booked."

More than half of shoppers will shop deals on Black Friday and Cyber Monday, but for most shoppers, Black Friday and Cyber Monday won't be the start of their holiday shopping. More than 50% will start shopping before Thanksgiving, compared to 43.2% last year, while another 36.3% will start two to four weeks before Christmas. Then, a small number of shoppers — roughly 4% — will wait until the week before Christmas.

Reference: https://www.retailcustomerexperience.com/news/bigger-holiday-spend-this-year-claims-survey/