Report: Holiday spend will boost retail sales with omnichannel retailers benefitting the most
Omnichannel retailers will be the big winners this holiday season as a new report claims 96 percent of shoppers will be buying from the retail segment.
An International Council of Shopping Centers report expects a 3.8 percent year-over-year growth in retail sales, and consumers are predicted to spend an average of $728.40 each on gifts and holiday related items.
The spend will be distributed through a variety of shopping channels, with 91 percent of shoppers buying at physical locations.
"Our annual Holiday Shopping Intentions findings demonstrate that consumers are very optimistic this holiday season and that physical retail remains a cornerstone of the holiday season," said Tom McGee, president and CEO of the International Council of Shopping Centers, in a release. "The more agile retailers are in meeting consumers' demands for the seamless convergence of physical and digital shopping, the more success they will see."