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Social media to play big role in holiday shopping trends

Posted: 9:33 AM, Oct 26, 2016
Updated: 2016-10-26 15:40:32Z

What's hot and what's not this holiday season? 

The answer to that question may rest more on social media than traditional advertising, according to a leading economic website.

In its annual holiday sales forecast, Deloitte.com estimated a 3.6 to 4 percent increase in dollars spent during the 2016 holiday season compared to the 2015 season. In dollars, this translates to more than $1 trillion in sales.

Within that forecast, the website focused on how digital interactions could affect that growth. Deliotte believes digital interactions will influence 67 percent — or $661 billion — of retail stores this season.

But, what does that mean?

"Large e-commerce players and digital platforms such as Facebook and Pinterest are shaping what people think is a great shopping experience is — a fast, highly-curated assortment with access to visuals, information, and buying sources," said Rod Sides, vice chairman, Deloitte LLP and retail and distribution sector leader. 

Social media users are likely to see a larger presence of retailers (both traditional and online) in their feeds because it a way for them to stay connected with the consumer, Sides concluded.