Holiday shoppers get stuck in research loops and move to off-price stores
As the holiday shopping season approaches, a survey of more than 13,400 adults found that shoppers are over-researching purchases and shifting to off-price retailers. Over half of respondents said researching products feels more satisfying than deciding what to buy.
The data showed that 56 percent of shoppers keep researching even after they believe they know what they want, while 67 percent regularly look into products they ultimately do not purchase. Additionally, 62 percent consult three or more sources before buying a product they already like, and 44 percent abandon a purchase when faced with too many alternatives or conflicting options. According to AlixPartner’s holiday shopping report, the shift to value formats is retailer‑driven, with former mid‑tier department‑store shoppers moving their apparel, footwear and accessories spend to off‑price, mass‑market, club and online channels. Footwear buyers are also cutting back, with 39 percent sticking to favorite brands but buying fewer pairs to save money.
“People have become exceptionally good at finding information, but that does not necessarily mean they have become better at knowing when they have enough,” Sarah Meyer, managing director of MyIQ said.
Consumers cite rising household debt, inflation and fuel costs as reasons they are seeking lower‑priced options. Because of this, many are leaving traditional department stores for off‑price chains and thrift shops like Ross, Goodwill, Marshalls and T.J. Maxx.
What we know
survey of more than 13,400 adults across the globe conducted by MyIQ
51 percent of respondents said researching products “can feel more satisfying than actually deciding what to buy.”
56 percent of those polled said they keep researching even after believing they know what they want
67 percent said they regularly spend time researching products they ultimately “decide not to buy.”
AlixPartner’s recent consumer holiday shopping report found consumers are “switching from the retailers they traditionally shopped to value formats where they can find the same brands at lower prices.”