WNS (Holdings) Limited (NYSE: WNS), a leading provider of global Business Process Management services, has published the results of a 2017 U.S. Retail Holiday spending report through WNS DecisionPoint, the company’s thought leadership platform designed to provide companies with strategic business insights. The report analyzes spending comparisons and shopper purchase curves based on a survey of over 3,000 consumers across the U.S.
“The purchase journeys of shoppers in the retail industry are becoming more complex even as they continue to look for a higher level of personalization and digitization. WNS DecisionPointTM has developed two proprietary analytical models — Consumer Decision Trees and Shopping Inhibitor Index. These models provide insights into customer journeys across various formats, and track major irritants that customers have while shopping in stores. These insights will enable companies to target customers effectively, drive personalization and increase revenue,” said Akhilesh Ayer, Head – Research & Analytics, WNS.
The holiday report analyzes shoppers’ cadence across product categories and compares trends from the previous year. Some key highlights from the 2017 report include:
- The average customer is expected to spend 21% more than last year
- 85% of customers are unlikely to shop after Christmas
- Gen X will spend 47% more than last year compared to other demographic groups
- E-commerce continues to edge out brick-and-mortar stores and is increasingly becoming the first choice for shoppers in various product categories, especially consumer electronics
- While shoppers browse at physical stores, they immediately check online sites for a wider assortment. “Endless aisles”, where customers can view products online that are not available in stores, can be an effective solution
The report also tracks the impact of digital retail on the extended ecosystem and provides themes for retailers to enhance the in-store shopper experience.
WNS DecisionPoint™ is part of WNS’ Research and Analytics unit. The platform offers C-suite executives industry insights, and market research and strategic analysis on current and emerging business trends. WNS’ analytics practice consists of 2500+ employees with core analytics experience and a client base that spans a wide range of industries such as travel, insurance, banking, retail and consumer packaged goods.