The average U.S. shopper spends more on each shopping trip, according to new data from The NPD Group.
Between March and July, the average shopping trip was $ 34 or more per consumer in stores and online. Each month since March 2020, the average consumer has spent between 13% and 29% more on each shopping trip compared to each month in the previous year. However, these numbers reflect an overall drop in the number of shopping opportunities per week.
Part of the increase in spending per trip, according to NPD, is due to the prevalence of online shopping, where people tend to spend more at a time on items with higher average selling prices. Running fewer groceries on average has also encouraged consumers to buy more on each trip, especially as delays in the supply chain lead to shortages on some items.
Freight rates have reached record highs amid pandemic-related shipping slowdowns, factory and store closures, clogged ports and labor shortages. As a result, retailers have been forced to look for alternative solutions to move products, which has resulted in the prices of some items rising.
“Fewer errands to limit in-person contact in retail stores, combined with supply chain challenges of making fewer products available, means consumers are more willing to spend more now to get the products they need. “said the chief retail advisor for NPD Marshal. Cohen. “This dynamic changes the traditional pace of product seasonality and creates less price sensitivity. “
According to the data, grocery and drug stores, warehouse clubs, hardware and farm gate stores, and mass merchants benefited the most from the spending increase. Cohen said he expects consumers to spend more on fewer and better products, especially as the holiday season approaches.
According to Deloitte’s annual retail forecast, holiday retail sales will likely increase between 7% and 9% in 2021 compared to 2020. Sales will likely total between $ 1.28 and $ 1.3 trillion between November and January, with online sales projected to be between $ 210 billion and $ 1.3 billion. $ 218 billion this season.
“We expect strong consumer spending for the next holiday season,” said Daniel Bachman, US economic forecaster at Deloitte. “As immunization rates increase and consumers become more comfortable being away from home, we will likely see increased spending on services, including restaurants and travel, while spending on goods will continue to hold up. “