The impact of COVID-19 on the retail sector will force innovation at a faster rate than at any other time in history. With the holidays around the corner, it is imperative that retailers understand how the pandemic will shape consumer behavior in the near term. goTRG surveyed more than 1,000 consumers across various age groups in the United States to assess changing consumer shopping behavior in relation to both general and holiday returns during this pandemic. Key findings include:
- Consumers once preferred in-store returns but are now taking precautions: 77% of respondents made their returns in-store pre-pandemic. That number decreased by nearly 20% when respondents were asked if in-store would be their preferred method of return when the pandemic is over.
- Consumers are tuned in to the challenges associated with holiday shopping: 84% of respondents expect delivery delays and out-of-stock issues to be worse this holiday season. Additionally,52% of consumers are shopping earlier than usual and nearly a quarter are opting to purchase e-gift cards.
- Younger generations perceive refurbished products as viable gift options: 68% of respondents have already purchased a refurbished product.
- Retailers should expect to deal with unwanted holiday gifts this season via online channels: Nearly a third of respondents expect to return the holiday gifts they receive this season, with over half of respondents expecting to return up to 50% of the gifts they receive.
Download the full report for more insights on unique consumer behaviors to expect this holiday season.
