U.S. consumers are showing a dramatic increase in their spending expectations this holiday season, with 40 percent planning to spend more on holiday shopping this year, versus just 25 percent saying the same last year according to Accenture’s (NYSE:ACN) annual holiday shopping survey.

The Accenture Holiday Shopping Survey found that while consumers are willing to spend more this year, they are still enticed by a good deal. Eighty-seven percent of shoppers are typically persuaded by discounts of 20 percent or more to purchase an item, with 23 percent being persuaded by discounts of 20-29 percent.

While some retailers are closing their doors on Thanksgiving, consumers remain enthusiastic about shopping that day with 50 percent likely to do so, up from 45 percent in 2014. On par with 2014, 63 percent of consumers plan to shop on Black Friday. Consumers are split between planning to shop via their laptop/desktop on Thanksgiving (43 percent) and Black Friday (42 percent), while 40 percent and 42 percent plan to shop in-store on Thanksgiving and Black Friday respectively. Younger shoppers especially males are the most likely to shop on Thanksgiving day/night. Under a third (between 28-32 percent) of this group will purchase between 50-100 percent of their items in-store or on laptop/desktop.

“With consumers willing to spend more on holiday purchases again this year, this holiday season represents a strong opportunity for retailers,” said Patricia Walker, Senior Managing Director, Products, and North America Retail Practice Lead at Accenture. “However, in order to capitalize on the opportunity, retailers need to focus on offering a seamless experience for shoppers who will be shopping both online and in-store. As consumers make digital technology a natural part of their lives, their shopping habits have evolved rapidly. If they experience personalization on one channel, they start to expect it across all channels. This represents a great opportunity for retailers who take advantage of new and emerging digital technologies to enhance the shopping experience.”

U.S. Holiday Shopper Profile Highlights:

  • Forty percent plan to spend more on their holiday shopping this year, up from 25 percent in 2014.
  • Online is the preferred shopping option as compared to in-store though one in 10 think they will use a particular channel depending on what they are purchasing.
  • Sixty-five percent prefer to purchase products from the website of a brick-and-mortar retailer (versus other online stores), due to convenience, trust and security.
  • Half of consumers are likely to shop on Thanksgiving, while 28 percent believe Thanksgiving should be spent with family.
  • Fifty-one percent are willing to share personal information with retailers in order to receive personalized offers from retailers, up from 33 percent in 2014.
  • Webrooming and showrooming will be prevalent among U.S. shoppers, with 69 percent and 65 percent likely to participate in each respectively.
  • Sixty-one percent of shoppers are influenced by social media when making purchasing decisions.

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