Retailers are aiming to capitalize on the shift. In-store experiences like visiting Santa and viewing holiday decorations have been high in demand during recent holiday seasons. Retailers creating memorable experiences that go beyond shopping have benefited from the increased attention and footfall.

A festive ambiance in stores plays a pivotal role in enhancing the overall shopping experience. Shoppers value the joyful atmosphere created by twinkling lights, thematic decorations, and the presence of Santa Claus. In fact, last year's report unveiled that 36.9% of holiday shoppers derived enjoyment from the holiday ambiance in physical stores, finding pleasure in the festive decor and delightful scents. Holiday ambiance and being able to interact with products in person remain top priorities for in-store shoppers.

While the shift towards experiential shopping may seem daunting for traditional retailers, it presents a remarkable opportunity for growth and engagement.

"This growing preference for experiences underscores consumers' increasing desire to create lasting memories and engage in holiday-themed activities," says Virtue. "As individuals eagerly anticipate enjoying the festive season, the role of physical stores, online platforms, and entertainment offerings will play a crucial part in meeting their evolving needs."