LOS ANGELES, Nov. 19, 2015 /PRNewswire/ -- According to Deloitte's 30th annual holiday survey of consumer spending intentions and trends, shoppers in Los Angeles are expected to spend less than in previous years, but on par with the national average. Consumers in Los Angeles are focused on living more responsibly and that includes paying down debt instead of spending. These consumers also have concerns over the stability of their jobs, higher gas prices, and political and economic instability overseas. While holiday spend might be down, by utilizing purchasing strategies such as "webrooming," "showrooming," in-store pickup and purchasing online, Los Angeles shoppers still plan to do their homework and take full advantage of the numerous retail channels at their disposal. Deloitte polled over 4,000 people nationwide, some of the key findings within the Los Angeles market are:
Webrooming vs. showrooming vs. in-store pickup vs. online
- Sixty five percent of Los Angeles shoppers anticipate first looking at items online and then purchasing at the store, otherwise known as webrooming. This is lower than the national average of 69 percent.
- Fifty four percent of shoppers in Los Angeles anticipate first going to a store to look at an item, then purchasing online, known as showrooming. This is slightly higher than the national average of 52 percent.
- Los Angeles respondents are more likely than national respondents to buy a product online and go to a store to pick it up, rather than paying shipping and handling fees. The primary reasons for in-store pickup were: saving on shipping charges (66 percent), getting the item faster (47 percent) and seeing the product first before they accept (37 percent).
- Twenty five percent of Los Angeles shoppers plan to purchase more than 75 percent of their total holiday spending online, as compared with only 19 percent of the national average. This is up from the prior year, when 19 percent of Los Angeles respondents planned to purchase more than 75 percent of their total holiday spending online.
Confidence in the overall economy and personal finances are high
- Respondents from Los Angeles are more optimistic about the economy than overall national respondents, with 8 percent believing the overall outlook for the U.S. economy is expected to significantly improve in the next year, compared with an overall average of 6 percent from national respondents.
- Thirty eight percent of respondents say their current financial position is better than last year, which is more optimistic than the national average of 33 percent.
Brand loyalty with a local focus
- Shoppers in Los Angeles are more brand loyal than the national shoppers on average. If a store's website does not have a specific item available, more Los Angeles respondents (21 percent) than national respondents (15 percent) would go to the physical store, rather than shopping at another store or website.
- Finding one-of-a-kind gifts, supporting the local economy and convenience are three of the primary reasons as to why 67 percent of Los Angeles shoppers intend on weaving local retail stores and small businesses into their holiday shopping plans.
"When it comes to their holiday shopping, consumers not only value price, but convenience as well. Retailers who are able to successfully combine the two, whether it be in-store or online, will be the ones shoppers seek out this holiday season," said Jackie Fernandez, partner and retail sector leader for the Pacific Southwest region at Deloitte & Touche LLP. "Consumers value their time as much as dollars saved, so when it comes to their holiday shopping, they are expecting things to be handled not only quickly, but efficiently as well."
For more information about Deloitte's "2015 Annual Holiday Survey," please read the full survey report or follow us @DeloitteCB. An infographic and complete survey results are also available for download.
About the Survey
The survey was commissioned by Deloitte and conducted online by an independent research company between Sept. 11 and 22, 2015. The survey polled a sample of 4,009 consumers in the U.S. and has a margin of error for the entire sample of plus or minus one to two percentage points.
About Deloitte's Retail and Distribution Practice
Deloitte is a leading presence in the retail and distribution industry, providing audit, consulting, risk management, financial advisory, and tax services to more than 75 percent of the Fortune 500 retailers. With more than 2,400 professionals, Deloitte's retail and distribution practice provides insights, services and approaches designed to assist retailers across all major subsectors including apparel, grocery, food and drug, wholesale and distribution and online. For more information about Deloitte's retail and distribution sector, please visit www.deloitte.com/us/retail-distribution or follow @DeloitteCB on Twitter.
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