New GPShopper “Holiday Shopping Experience: Immediacy as Currency” report unveils the importance of convenience and efficiency for shoppers this holiday season

The findings are based on the “Holiday Shopping Experience: Immediacy as Currency” report by GPShopper, a Synchrony solution. The report looked at how consumers plan to shop this holiday season to help retailers better meet shoppers’ unique needs. Key findings include:

How Holiday Stress Impacts the Shopping Experience

A majority (53 percent) identified crowds and waiting in line among the most stressful factors of holiday shopping; 47 percent said not being able to find the product they want and 25 percent said gifts arriving late causes them the most stress. To avoid the last-minute rush and escape the stress of holiday shopping:

• 43 percent of holiday shoppers said they’ll purchase gifts at least a month in advance, compared to a slim 3 percent who said they’ll pay up to $50 more for rush shipping
• 40 percent of holiday shoppers will give a gift card instead of purchasing gifts
• 17 percent of holiday shoppers will make a gift, such as a baked good, instead of purchasing gifts
• 13 percent of holiday shoppers will buy online at a more expensive price because a gift was not available in-store

Synchrony’s GiftNow, a digital gifting platform that helps ease the process of last-minute gifting, also recently unveiled the top 2018 gifting trends.

Expediting In-Store Efficiency

As consumers map out their holiday shopping plans, they will blend in-store and online shopping this year, with more than 39 percent of holiday shoppers planning to do their shopping equally in-store and online, while only 17 percent said they would do all of their shopping online.

Americans are interested in using technology during the in-store holiday shopping experience. Our research identified exactly what those services and perks are that consumers want to ease, and enhance their time:

• 36 percent want to use a retailer’s mobile app
• 35 percent want to use scan-and-go (for a speedier check-out)
• 27 percent want to use visual search
• 26 percent want to use a mobile wish list

The top special perks that encourage consumers to shop at one store over another are:

• In-store sale offers would encourage them to shop at one store over another (68 percent)
• Free food or drink would entice them to shop at a certain physical store (50 percent)
• Gimmicks, like photos with Santa and decorative window displays/ in-store exhibits only appealed to 12 percent and 18 percent, respectively

Malls Still Provide Convenience for Holiday Shopping

Malls provide the convenience and immediacy that consumers crave during the holidays, as the research found:

• More than half (61 percent) value the ability to leave the same day with their gift
• Nearly 40 percent value that they can complete all holiday shopping in one place
• Nearly 40 percent value that they’re able to find inspiration for gift ideas readily available
• 35 percent of shoppers most value the exciting holiday atmosphere and activities

“Retailers looking to stay competitive and cash in this holiday season must take a holistic look at shopping behavior – with convenience at center stage,” said Maya Mikhailov, co-founder and CMO of GPShopper, a Synchrony solution. “What’s unique this year, according to our research, is that consumers will no longer tolerate crowds or bear long lines. In fact, they are desperate to avoid the craze and are seeking in-store shopping environments that deliver efficiency, above all else. The sharpest retailers will take note, listen to these consumer needs and respond swiftly with a variety of services that deliver a more rewarding shopping experience.”

Research Methodology

GPShopper commissioned YouGov PLC — a professional research and consulting organization — to poll the views of 1,357 adults (1,223 of which are holiday shoppers). Fieldwork was undertaken between October 10-11, 2018. The survey was carried out online. The figures have been weighted and are representative of all US adults (aged 18+).

About Synchrony

Synchrony (NYSE: SYF) is a premier consumer financial services company delivering customized financing programs across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products. With more than $130 billion in sales financed and 74.5 million active accounts, Synchrony brings deep industry expertise, actionable data insights, innovative solutions and differentiated digital experiences to improve the success of every business we serve and the quality of each life we touch. More information can be found at synchrony.com and through Twitter:@Synchrony.

About GPShopper

GPShopper, a Synchrony solution, is the leading mobile commerce and engagement platform for retailers and brands that want to create custom app experiences for their customers. GPShopper’s native mobile app solutions and proprietary SDK empower retailers to drive customer engagement and loyalty through multiple touch points, both digitally and in-store, using technology to transform the total retail experience. This is all done with an unmatched degree of scalability and security. Some of the world’s biggest retailers are part of the GPShopper family, including Boohoo, Crate & Barrel, Foot Locker, Lands’ End, Lane Bryant, Stance, Steve Madden, Tillys and more. For more information about GPShopper, please visit gpshopper.com.

Contact: