How consumers want to shop and pay this holiday season

December 06, 2021

This holiday shopping season may look different than it has in years past, thanks in part to the continued need to limit physical contact brought on by COVID-19, and supply chain issues. But that doesn’t change the importance that the season holds for merchants around the world. In fact, the National Retail Federation predicts anywhere from $843 billion to $859 billion in holiday shopping spend this season. (The figure excludes transactions made at car dealerships, gas stations and restaurants).

To capture those dollars, retailers must have a handle on when and what customers want to buy for the holidays and know how they want to shop and pay. That’s why we asked consumers in five regions—Singapore, Australia, Brazil, the United States and the United Kingdom--what they want in a holiday shopping experience as part of this year’s Worldpay from FIS Generation Pay 2021 report.

Across all age groups and geographies, the overwhelming majority of respondents said they favor retailers who offer the best deals (78%). Yet, 75% of those respondents also value whether a retailer has good stock and a hassle-free return policy. For the majority of respondents (67%), retailers who offer multiple ways to pay also influences where they’ll spend their holiday dollars.

However, geographic location and the age of the shopper influences which factors will ultimately attract holiday customers. In Singapore for example, 67% of consumers will shop at a retailer with whom they have an existing loyalty program, but 65% are also open to shopping at new retailers. In Australia, consumers place less value on whether they have a loyalty program with a retailer when spending their holiday dollars (60%), but they are also less likely to shop at a new retailer (55%). Across all surveyed nations, consumers in the United Kingdom are the least likely to value shops with the best deal when choosing where they’ll check off their holiday lists.

When it comes to whether they’ll shop online, in-store, on a mobile device or using social media, the shoppers’ geographic location and age significantly influences how consumers buy.

Do you understand the many nuances of your customer base so you can capture your greatest potential share of holiday shoppers this season? Get your Generation Pay 2021 report now to see all the important insights you need to grow your businesses and truly understand what customers from across generations and geographies want when it comes to payments.