2 out of 3 holiday shoppers are doing most of their gift buying on line

A new CreditCards.com survey shows more than two out of three (71%) holiday shoppers plan to do most of their seasonal shopping online this year, up from just over half (51%) last year.
Consumers cite a variety of reasons for doing their holiday buying online, from convenience to avoiding human contact in the midst of a pandemic to finding better deals.

“Holiday shopping is going to look very different this year,” says CreditCards.com industry analyst Ted Rossman. “COVID-19 is accelerating the existing trends toward e-commerce and digital payments.”

Shoppers of all ages plan to buy gifts and other holiday essentials online rather than crowding into big box stores, malls and local shops this year.
•Millennials (ages 24-39) are the generation most likely to avoid stores this holiday season. In fact, 74% of millennials plan to shop online compared with 70% of Gen Zers (ages 18-23), 70% of Gen Xers (ages 40-55) and 70% of baby boomers (ages 56 to 74).
•Though they face the highest risk from coronavirus, consumers from the Silent Generation (75 and older) are the ones most likely (40%) to say they plan to do their shopping in person.
•Convenience is the top reason for shopping online, cited by 69% of shoppers. The older the shoppers, the more likely they are to choose convenience as their reason for shopping virtually. Only 60% of Gen Zers say they plan to avoid stores out of convenience, compared with 61% of millennials, 72% of Gen Xers, 76% of boomers and 83% of Silent Generation shoppers.
•Since COVID-19 is riskier for older Americans, it’s surprising that the youngest holiday shoppers (59% of Gen Zers) were most likely to give “avoiding human contact” as their main reason for steering clear of stores. In contrast, only 48% of boomers and 47% of Silent Generation shoppers chose that reason.
•Other popular reasons for shopping online this year are a bigger selection (44%) and finding better deals (46%).