Spending survey: Expect record web sales this holiday season

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Retailers could see record web traffic this year, according to Deloitte's 31st annual holiday survey of consumer spending intentions and trends.

Among the findings from the 2016 study:

The Internet gallops ahead as the top shopping destination

Consumers upbeat about economy and cash flow, but will rein in non-gift holiday spending

Online and in-store channels becoming kindred spirits

"The way people shop online is having a profound impact on holiday spending this year," said Rod Sides, vice chairman, Deloitte LLP and U.S. retail, wholesale and distribution practice leader. "Retailers must cater to that digital mindset long before someone walks into a store. If retailers treat online and in-store shopping as mutually reinforcing rather than competitive forces, they can create more opportunities across the business. Customer expectations are being shaped as much by the digital experience as the in-store experience. As a result, retailers should map digital features that matter to the consumer to their brand."

Sides added, "Retailers may also find that while consumers uphold the spirit of gift-giving, people may not feel the need to indulge on themselves as much this year. We saw a lot of replenishment in non-gift categories over the last few years, and that may be starting to cool off a bit. As people find lower costs for expenses such as travel, they may choose to hang on to those extra savings. Several years of extended and highly competitive holiday promotions among retailers have also reinforced consumers' expectations that they don't have to pay full price."

For more information about Deloitte's 2016 Annual Holiday Survey, please read the full survey report or follow us //twitter.com/@DeloitteCB" target="_blank">@DeloitteCB. An infographic and complete survey results are also available for download.

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