GlobeNewswire Inc | Nov 10, 2021 08:00AM EST

November 10, 2021

CHICAGO, Nov. 10, 2021 (GLOBE NEWSWIRE) -- TransUnions (NYSE: TRU) newly released2021Consumer Holiday Shopping Reportfound that72% of consumers are considering changes to their online holiday shoppingbehavioras a result of possible low inventories. The anticipation of supply chain issues has 33% shopping earlier this year, while 25% are considering alternate gifts and 14% maymake fewer holiday purchases.

Retailers,though,should be encouraged that this years survey showed a 22% increase in the number of respondents who plan to spend more on holiday shoppingafter two consecutive years of decline.This trendwas led byGen Z consumers, 36% of which plan to spend more.There was also a 15% increase from 2020 in the number of respondents who plan to use credit for their purchases.

TransUnion, a global information andinsightscompany, conducted anonline survey of 2,631adults in late Octoberfor its annual Consumer Holiday Shopping Report. This is thefourthiteration of the report,which has observed consumer shopping preferences during the holiday season between 2018 and 2021, across four generations (Gen Z, Millennials, Gen X and Baby Boomers) and in aggregate.

This year poses a real opportunity for retailers and creditors looking to win over new business, saidMark Rose, senior director of marketing solutions in TransUnions diversified markets business.Those who can successfully targetnewaudiences and assure them of a strong inventory and on-time, secure delivery will find a receptive audience, as consumers are worried about scarcity and considering alternatives.

Consumers Ready to AdaptThe vast majority (83%) of respondents said they plan on doing at least half of their holiday shopping online this year. However, among that group, 53% said their biggest concern is the possibility that a merchant may not fulfill their order on time.

This could be a reasonwhynearly half of respondents (47%) said they began their holiday shopping in October or earlier this year. This trend was driven more by older generations, with51% ofBaby Boomerssaying they would start in October or earlier,while only 36% of Gen Z consumers did so.

With so much uncertainty about low inventories and on-time delivery, consumers are also looking for trustworthy alternatives to their preferred online retailers. According to the survey, 44% of respondents said they will consider new retailers they are familiar with and 23% are open to new retailers even if theyve never heard of them before. This finding was consistent across generations.

What seems to be new this year is that consumers arereallyfeeling the pressure to secure theirgiftpurchases, said Rose. This opens the door for marketers who can successfully target those shoppersand signalthat they can fill in where someof their go-toretailers are falling short.

Seamless and SecureNowTable Stakes for Online RetailersWhat has not changed this year is that consumers have come to expect that online shopping is as safe as it is easy, saidShannon Wu-Lebron, senior director of retail in TransUnions diversified markets business.Retailers would do well to give consumers a good experience while not being afraid to demonstrate the measures taken to ensure security.

When asked how their concern with being victimized by online fraud this holiday season compares to last year, 70% said they have the same level of concern, while 25% said they have more concern this year. Moreover, 50% have a positive view of additional identity validation requirements at check-out, while 45% are neutral, saying the requirements dont affect shopping habits. However, 15% say not having enough security on a site is their top reason for abandoning their cart.

More than half of consumers (55%) said both account information and credit card information security are equally important. Yet, respondents said they are still looking for a seamless experience.

Furthermore, when using a mobile device to shop online, 70% said auto-fillof personal information and credit informationis at least moderately important. Nearly two-thirds of respondents (64%) said device payment technology is at least moderately important, and 79% said use of device security capabilities (e.g.fingerprint readers or facial recognition) are at least moderately important.

A New Bar for Social ResponsibilityWhen asked to rate how influential certain factors are in deciding where to shop, 50% of respondents said a stores reputation for social responsibility was at least moderately influential, and 52% said a stores reputation for environmental responsibility was at least moderately influential.This trend of consumers wanting to see retailers commitment to Environmental, Social and Governance (ESG) issues wasmost pronounced amongGen Z andMillennialrespondents.

This is the first year we decided to measure sentiment abouthowa retailers ESG reputation influencesshopping, said Wu-Lebron. What our analysis shows is that, if consumers are deciding between two brands with similar product quality and price,the companythat betterpositionsitscommitment to corporate responsibility couldcome out ahead.

Pleaseclick hereto download a full version of the TransUnion 2021 Consumer Holiday Shopping Report.

About TransUnion (NYSE: TRU)TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing an actionablepicture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good.

A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people.

http://www.transunion.com/business

Contact Dave Blumberg TransUnion E-mail david.blumberg@transunion.com Telephone 312-972-6646