Vertex Holiday Shopping Survey Emphasizes the Crucial Role of Tax Automation
Vertex Inc (NASDAQ:VERX) released results from its peak season consumer survey, highlighting evolving shopping behaviors and tax management challenges. The survey of 1,000 respondents revealed that 73% prioritize free shipping, while 58% are opting for more gift cards and experiences this season.
Key findings show that 77% of consumers plan to shop online or use a hybrid approach, with 64% preferring trusted marketplaces. Additionally, 72% track product shipping origins, and 73% are aware of their state's sales tax, though only 17% consider tax implications in purchasing decisions.
The survey emphasizes the need for retailers to implement efficient tax automation systems to handle complex transactions across multiple jurisdictions, especially during high-volume shopping periods like Black Friday and Cyber Monday.
Vertex Inc (NASDAQ:VERX) ha pubblicato i risultati del suo sondaggio sui consumatori durante la stagione di massimo picco, evidenziando l'evoluzione dei comportamenti d'acquisto e le sfide nella gestione delle tasse. Il sondaggio, realizzato su 1.000 intervistati, ha rivelato che il 73% dà priorità alla spedizione gratuita, mentre il 58% sta optando per più carte regalo e esperienze in questa stagione.
I risultati principali mostrano che il 77% dei consumatori prevede di fare acquisti online o di utilizzare un approccio misto, con il 64% che preferisce mercati affidabili. Inoltre, il 72% tiene traccia delle origini della spedizione dei prodotti e il 73% è a conoscenza dell'imposta sulle vendite del proprio stato, anche se solo il 17% considera le implicazioni fiscali nelle decisioni di acquisto.
Il sondaggio sottolinea la necessità per i rivenditori di implementare sistemi di automazione fiscale efficienti per gestire transazioni complesse attraverso più giurisdizioni, specialmente durante i periodi di elevato volume di acquisti come il Black Friday e il Cyber Monday.
Vertex Inc (NASDAQ:VERX) publicó los resultados de su encuesta a consumidores durante la temporada alta, destacando la evolución de los comportamientos de compra y los desafíos en la gestión fiscal. La encuesta, realizada a 1.000 encuestados, reveló que el 73% prioriza el envío gratuito, mientras que el 58% opta por más tarjetas de regalo y experiencias esta temporada.
Los hallazgos clave muestran que el 77% de los consumidores planea comprar en línea o usar un enfoque híbrido, con un 64% que prefiere mercados de confianza. Además, el 72% rastrea los orígenes de envío de los productos, y el 73% es consciente del impuesto sobre ventas de su estado, aunque solo el 17% considera las implicaciones fiscales en sus decisiones de compra.
La encuesta enfatiza la necesidad de que los minoristas implementen sistemas de automatización fiscal eficientes para gestionar transacciones complejas a través de múltiples jurisdicciones, especialmente durante períodos de alto volumen de compras como el Black Friday y el Cyber Monday.
Vertex Inc (NASDAQ:VERX)는 정점 시즌 소비자 설문조사 결과를 발표하며, 변화하는 쇼핑 행동과 세금 관리의 어려움을 강조했습니다. 1,000명의 응답자를 대상으로 한 이 조사는 73%가 무료 배송을 우선시하고 있으며, 58%는 이번 시즌에 더 많은 상품권과 경험을 선택하고 있음을 보여주었습니다.
주요 결과는 77%의 소비자가 온라인 쇼핑을 하거나 하이브리드 방식으로 구매할 계획이며, 64%는 신뢰할 수 있는 마켓플레이스를 선호한다고 나타났습니다. 또한 72%는 제품 배송 출처를 추적하고 있으며, 73%는 자신의 주의 판매세를 알고 있지만, 오직 17%만이 구매 결정에서 세금의 함의를 고려하고 있다고 합니다.
이 설문조사는 소매업체들이 고부가가치 쇼핑 시즌 동안, 블랙 프라이데이와 사이버 먼데이 같은 경우에 복잡한 거래를 처리하기 위해 효율적인 세금 자동화 시스템을 도입할 필요성을 강조합니다.
Vertex Inc (NASDAQ:VERX) a publié les résultats de son enquête saisonnière sur les consommateurs, mettant en lumière l'évolution des comportements d'achat et des défis de gestion fiscale. L'enquête auprès de 1 000 répondants a révélé que 73 % priorisent la livraison gratuite, tandis que 58 % optent pour davantage de cartes-cadeaux et d'expériences cette saison.
Les résultats clés montrent que 77 % des consommateurs prévoient d'acheter en ligne ou d'adopter une approche hybride, 64 % préférant des marchés de confiance. De plus, 72 % suivent l'origine des expéditions de produits, et 73 % sont conscients de la taxe de vente de leur État, bien que seulement 17 % prennent en compte les implications fiscales dans leurs décisions d'achat.
L'enquête souligne la nécessité pour les détaillants de mettre en place des systèmes efficaces d'automatisation fiscale pour gérer des transactions complexes à travers plusieurs juridictions, en particulier pendant les périodes de forte affluence comme le Black Friday et le Cyber Monday.
Vertex Inc (NASDAQ:VERX) hat die Ergebnisse seiner Umfrage zu Verbrauchern in der Hochsaison veröffentlicht, die sich mit den sich ändernden Einkaufsgewohnheiten und Herausforderungen im Steuermanagement beschäftigt. Die Umfrage unter 1.000 Befragten ergab, dass 73 % kostenlosen Versand priorisieren, während 58 % in dieser Saison mehr Geschenkkarten und Erlebnisse wählen.
Die wichtigsten Erkenntnisse zeigen, dass 77 % der Verbraucher planen, online einzukaufen oder einen hybriden Ansatz zu verwenden, wobei 64 % vertrauenswürdige Marktplätze bevorzugen. Zusätzlich verfolgen 72 % die Herkunft der Produktlieferungen, und 73 % sind sich der Umsatzsteuer in ihrem Bundesland bewusst, obwohl nur 17 % die steuerlichen Auswirkungen bei Kaufentscheidungen berücksichtigen.
Die Umfrage hebt die Notwendigkeit für Einzelhändler hervor, effiziente Systeme zur Steuerautomatisierung zu implementieren, um komplexe Transaktionen über mehrere Rechtsordnungen hinweg zu verwalten, insbesondere während der Hochzeiten des Einkaufens wie Black Friday und Cyber Monday.
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Tax technology helps retailers reduce complexities to remain competitive as consumers strive for seamless shopping experiences
KING OF PRUSSIA, Pa., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Vertex Inc. (NASDAQ:VERX) (“Vertex” or the “Company”), a global provider of tax technology solutions, announced the results of its peak season consumer survey, revealing how modern consumer behavior continues to challenge businesses for managing shifting expectations and shopping habits in a competitive retail landscape.
Today’s consumers expect to purchase any item from any retailer, anywhere, without additional costs—challenging businesses to streamline tax processes and manage indirect expenses seamlessly. These shopper preferences add further complexity during high-volume shopping periods. Out of 1,000 respondents,
“During major shopping events like Black Friday and Cyber Monday, retailers want the confidence of knowing their tax configuration and setup is already in place, and able to scale, so they do not need to touch their system in these critical peak periods,” said Sal Visca, Chief Technology Officer, Vertex. “This is a top priority for Vertex when supporting our customers on their biggest days – especially in the e-commerce era where they have buyers from all over the world shopping at any time during the day or night. Resiliency, elasticity and redundancy are foundational in our platform so there is no friction in the user journey or loss of commerce flow which could ultimately impact the bottom line.”
As businesses continue to meet these demands, omnichannel commerce adds significant tax complexity. Customers may purchase from one channel and return in another, often spanning across different taxing jurisdictions – among 13,000 in the U.S. Additionally, retailers introducing new products and bundles must classify them for accurate taxability and calculation. This demands comprehensive tax content that is up to date with the ever-changing monthly updates, configurable rules and automation tools to streamline the process, ensuring seamless handling of any product in any location. Vertex’s automated tax solutions can simplify this process, helping tax departments manage the complexity and helping to ensure compliance with every transaction.
Other findings from the survey include:
- Online retail traffic to surge:
77% of combined consumers plan to shop more online or a mix of online and in-store. With only23% planning to purchase more items in-store, retailers will process a high volume of transactions across both channels – relying on their technology solutions to maintain consistency, system efficiency, reliability and stability during these peak moments. - Consumers favor marketplaces:
64% opt to shop through a trusted marketplace, which likely offers free shipping, multi-vendor product and service bundling and convenience perks and simpler returns versus a retailer’s online shopping experience. - Consumer behavior and sales tax knowledge:
72% of consumers closely track where a product ships from and73% are aware of their home state’s sales tax. However, only17% factor sales tax into their purchasing decisions or consider the complexities retailers face when selling in one state and shipping to another.
Retailers must capitalize on major shopping holidays, such as Black Friday and Cyber Monday, when consumer participation is at an all-time high. Accurate, fast and automated tax calculation is essential for providing a seamless customer experience, and a trusted tax engine is crucial for efficiently maintaining compliance. With Vertex’s end-to-end platform, retailers can capitalize on peak moments while ensuring continuous compliance.
To learn more about Vertex and its indirect tax and compliance solutions for e-commerce and more, visit www.vertexinc.com/solutions.
About the Survey
This survey was conducted via Dynata and polled 1,000 general U.S.-based consumers over 18 years of age in November 2024. Respondents were segmented and analyzed across age groups, gender, marital status, having children and household income. For complete survey methodology, please email vertex@pancomm.com.
About Vertex
Vertex, Inc. is a leading global provider of indirect tax solutions. The Company’s mission is to deliver the most trusted tax technology enabling global businesses to transact, comply and grow with confidence. Vertex provides solutions that can be tailored to specific industries for major lines of indirect tax, including sales and consumer use, value added and payroll. Headquartered in North America, and with offices in South America and Europe, Vertex employs over 1,500 professionals and serves companies across the globe.
For more information, visit www.vertexinc.com or follow us on Twitter and LinkedIn.
Copyright © 2024 Vertex, Inc. All rights reserved. The information contained herein is intended for information purposes only, may change at any time in the future, and is not legal or tax advice. The product direction and potential roadmap information is not a guarantee, may not be incorporated into any contract, and is not a commitment to deliver any material, code, or functionality. This information should not be relied upon in making purchasing, legal, or tax decisions. The development, release, and timing of any features or functionality described for Vertex's products remains at the sole discretion of Vertex, Inc. Any statements in this release that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties described in Vertex's filings with the U.S. Securities and Exchange Commission (“SEC”) that could cause actual results to differ materially from expectations. Vertex cautions readers not to place undue reliance on these forward-looking statements which Vertex has no obligation to update.
Vertex Company Contact:
Rachel Litcofsky
Manager, Public Relations
mediainquiries@vertexinc.com
FAQ
What percentage of consumers prioritize free shipping according to Vertex's 2024 holiday shopping survey?
How many consumers plan to shop online or use hybrid shopping methods in 2024?
What percentage of consumers prefer marketplace shopping according to VERX's holiday survey?
How many consumers consider sales tax when making purchasing decisions?
