As Hanukkah draws to a close and Christmas approaches, online retailers naturally wonder how the happy—and profitable—holiday season might add to their bottom line. Bizrate Insights has some clues, based on a survey of 6,300 verified online buyers. Here's what that study found.
Most online shoppers will spend at least $500
Just over half of all online shoppers expect to spend more than $500 on gifts this year—a figure that rises to 61% among 40-somethings. A quarter of men, meanwhile, plan to drop more than $1,000 on trinkets, gadgets, and toys.
Most will spend as much as they did last year—or more
A full 61% will spend as much as they did last year, and 18% plan to spend even more, nearly compensating for the 21% of respondents who expect to cut their holiday spending.
Who will spend more than $1,000?
If you're looking to target big spenders, focus on two key demographics: Men age 40-64 and women age 45-49.
Online shoppers like to shop online
Nearly all survey participants plan to make at least one holiday purchase online. Roughly half of those age 25 to 60 will buy more than half of their gifts online; that proportion drops to 43% at the younger (18-25) and older (65+) age extremes.