A majority of shoppers, 81%, don't plan to boost holiday spend this year and that trend is not in sync with marketer perception, according to a survey released by Rakuten, a shopping platform.
The survey, conducted in partnership with Harris Poll, revealed 79% of retail marketers are confident in achieving holiday sales target, according to a press release on the findings.
"There's a clear disconnect between marketer perception and consumer realities, but this presents a unique opportunity for retailers to capitalize on the shortcomings of their competition," Julie Van Ullen, chief revenue officer at Rakuten Rewards, said in the release. "As shoppers plan to spend less overall, there become fewer opportunities for retailers. This makes it evermore important for retailers to invest in strategies that set them apart throughout the entire holiday season. By investing early and capturing market share among early holiday shoppers, retailers can set themselves up for success in Q4. This approach also allows retailers to establish new relationships, or reinforce existing ones, with shoppers whose loyalty can't be assumed."