Most women believe retail will not return to normal until 2022 at the earliest, says a national study.
The results of the new national “Future of Shopping Women’s Study” has shown that women intend to participate in more online and mobile shopping this holiday season.
Online purchases are already up substantially over the data from May 2020, said the study.
The research was conducted by DaVinci Payments. It determined that mobile shopping this holiday season won’t reflect the end of the online-turning commerce trends. The majority of the survey participants stated that they did not expect post-COVID everyday life to return to some semblance of normalcy until 2022 or later.
The study found that female shoppers prefer retailers that provide them with a spectrum of different payment option. Mobile, online and contactless payment options were by far the favorite transaction methods among the women who participated in this study.
This research into mobile shopping this holiday season and the surrounding trends occurred in October.
The survey itself was conducted on October 2, 2020. It showed that 62 percent of the female shoppers who took part in the survey stated that their income remained the same or had improved when compared to where it was in 2019. That said, 52 percent of the participants expect to spend less throughout the holidays. Another 31 percent expect to spend about the same amount that they did in 2019. Only 17 percent expect to spend more money than they did in 2019.
Additional key findings of the research include the following:
- 76 percent of survey participant plan to do over half of their purchases through online or mobile shopping this holiday season. In May 2020, 71 percent thought that would be the case in a Future of Payments Study.
- 74 percent of survey participants plan to use mobile commerce specifically on their phones for over half their purchases. In May, 57 percent said that this was the case. Twenty-three percent reported that they were already doing all their online shopping via smartphone.
- Driving purchases, price was the most important factor, followed by quality, availability, safety, brand name, and the store selling the product. This suggests that rebates, discounts and other price-driven rewards are the most appealing to shoppers this year.