The average shopper has increased their holiday shopping budget by more than 30 percent from 2023, according to JLL’s Holiday Shopping Report, as retailers and brands begin their Black Friday promotions and deals. Because Thanksgiving falls on a different day this year, there are five fewer shopping days until Christmas compared to last year.
Julie Hyman and Brian Sozzi welcome JLL ( JLL ) Americas Retail Leader Naveen Jaggi at Catalysts to talk about the in-person shopping experience ahead of this holiday season.
“With all the incentives we are seeing online, on our phone and on our tablets, people are now more willing to go to the store than before. And we are still a customer who prefers to go shopping in person,” Jaggi. explains, saying that the more discerning customer will be able to find these better deals at big-box stores like Walmart ( WMT ) and Target ( TGT ).
He goes on to talk about the trends seen on social media leading shoppers to brick-and-mortar locations.
“We talk a lot about dwell time… So we want the customer to not only buy, but we want them to stay for a while,” Jaggi tells Yahoo Finance. “So it has to be very, very attractive for the Instagram time or the TikTok time, and not so much about the trade, because as we have seen in the last two years, consumers more than ever today, they want the chance of an experience. as opposed to just getting the best price.”
To check out more technical information and analysis on the latest market action, check out more Catalysts here.
This article was written by Luke Carberry Morgan.