In a recent survey, consumers said they still had, on average, 44% of their holiday shopping left to do, according to the International Council of Shopping Centers, generating in-store and online sales potential over the upcoming weekend, known as Super Saturday Weekend.
ICSC maintained that 92% of the consumers surveyed said they would be heading out to stores over the coming weekend to shop, dine, see a movie and/or attend a holiday related event. ICSC asserted that 112 million consumers will visit a shopping center this weekend, one of the busiest of the holiday season in the run-up to Christmas.
Although brick-and-mortar stores remain the dominant shopping destination, how consumers shop is changing significantly. In the days leading up to Christmas, ICSC predicted, 37 million consumers will buy something online and pick it up at a store. Of the group shopping online and picking up at retail locations, 76% will purchase additional items in the store where they retrieved their purchase. Beyond that, 48% of respondents will purchase an item at an adjacent store. In addition, 62% of shoppers will do research online before heading out to the stores this coming weekend.
“Shopping centers and malls are clearly the hub of both shopping and social interaction this holiday season,” said Tom McGee, president and CEO, ICSC. “This latest consumer data mirrors the impressive strength we currently see in the shopping center industry from an operating metrics standpoint. This is great news for the American economy as shopping centers are a major contributor to the overall fiscal health of our economy, with sales equaling approximately 15% of total U.S. GDP. With occupancy rates of 94%, the industry is thriving.”
He added, “What we are seeing is a story of convergence. It’s not a bricks versus clicks story. It’s really a bricks and clicks story. The store has become the central point of the physical and digital shopping experience. We know that over 90% of all sales occur in a physical location, but digital channels are really starting to drive people to the physical and influence how they shop once they get there.”