Holiday Spending Surges In Brentwood: Study

BRENTWOOD, CA – Now that the holiday season is officially underway, so is holiday shopping. According to Deloitte's 32nd annual holiday survey, Los Angeles shoppers are expected to spend more on average than last year, however more money is going towards socializing and entertainment than on gifts and gift cards. But what about other holiday shopping habits?

Los Angeles consumers are expected to spend 24% more than they did last year on holiday shopping, with an average of $1,358 – that's $132 more than the national average of $1,226. Out of that total budget, non-gifts and experiences account for 69%, whereas gifts and gift cards account for 31% of the total. The most popular gifts purchased are clothing, gift cards, and electronics.

Compared to national averages, Los Angeles residents are more likely to make mobile payments, and shopping on smartphones has increased by 20% compared to last year. But where are the gifts bought? Internet sites and mass merchants are the top shopping destinations, according to Deloitte.

The holiday shopping season accounts for more than $1 trillion nationally, and more than a quarter of annual U.S. retail sales. These spending expectations continue to rise due to improved household finances – the majority of Los Angeles consumers (85%) said their household financial situation has remained stable or improved since last year.

Here are some more stats about holiday shopping habits in Los Angeles:

Digital Influence/Use of Online and Mixed Channels

• Online spending (51% of budget) is expected to exceed in-store spending (42%) for the first time.
• Top reasons to avoid in-store purchases are convenience (68%), time savings (67%) and free shipping (70%).
• 70% percent of LA consumers plan to use a desktop/laptop to browse online.
• Los Angeles has higher mobile payment usage in stores with a mobile wallet than the national average – LA 33%, national average 22%

Retailer Policies: Shipping & Returns

• Two-thirds of LA shoppers plan to take advantage of free shipping, and 85% consider free more important than fast.
• 49% in LA expected to use in-store pick-up to save on shipping and get items faster.
• In LA, 82% expect to be influenced by promotions/coupons.

Methodology:

This survey was developed by Deloitte and conducted online by an independent research company between September 6-18, 2017. A national sample of 5,085 consumers aligned with the US Census for age and income was polled which has a margin of error for the entire sample of plus or minus one to two percentage points.

To read more about the study, visit Deloitte.

Photo via Patch staffer Renee Schiavone