News

Actions

Social media to play big role in holiday shopping trends

Posted: 9:33 AM, Oct 26, 2016
Updated: 2016-10-26 11:40:33-04
Social media to play big role in holiday shopping trends

What's hot and what's not this holiday season? 

The answer to that question may rest more on social media than traditional advertising, according to a leading economic website.

In its annual holiday sales forecast, Deloitte.com estimated a 3.6 to 4 percent increase in dollars spent during the 2016 holiday season compared to the 2015 season. In dollars, this translates to more than $1 trillion in sales.

Within that forecast, the website focused on how digital interactions could affect that growth. Deliotte believes digital interactions will influence 67 percent — or $661 billion — of retail stores this season.

But, what does that mean?

"Large e-commerce players and digital platforms such as Facebook and Pinterest are shaping what people think is a great shopping experience is — a fast, highly-curated assortment with access to visuals, information, and buying sources," said Rod Sides, vice chairman, Deloitte LLP and retail and distribution sector leader. 

Social media users are likely to see a larger presence of retailers (both traditional and online) in their feeds because it a way for them to stay connected with the consumer, Sides concluded.