Ready or not, the holiday shopping season is now upon us, and we have the insights to make sure you’re prepared for what’s to come. Shoppers are gearing up to spend their money on holiday gifting and retailers are ready to give them the best deals.
Below are the insights we discovered from our recent consumer survey of 15,000 Americans on their holiday shopping purchases.
1. Offer Free Shipping
Consumers claimed that they will always be looking for deals online, regardless of the time of year. In fact, over 80% of consumers use coupons when shopping online. Of all the different types of coupons, Percentage Off and Free Shipping were the most preferred year-round.
While many consumers still value discounts and free shipping, we have seen a wider variety of discount codes being used in more unique ways than ever before.
2. Will Inflation Break the Holiday Spirit?
While inflation is unavoidable, our survey results show that 36% of people have made no changes to their budget or to the items they plan to buy. This could mean that those individuals either haven’t set a budget for their holiday shopping, or they are giving gifts that won’t cost them money. There is good news though, consumers are still planning to spend between $250 and $1,000 this year.
Here are some additional facts we learned on consumer shopping with inflation:
- Consumers who claim to be less impacted by inflation say they will spend the same amount or more this year
- Brands who sell non-luxury items may see shoppers buy the same item from a less expensive brand or just purchase fewer items.
3. What and When are Consumers Shopping?
Consumers have stayed generally consistent in the gifts they’re looking to purchase, and this year is no different. These are the top categories they plan to shop this year:
- Gift Cards
Other notable categories include Gaming or Electronics, Beauty Products, and Alcohol or Wine.
Black Friday still reigns supreme for when consumers feel they get the best deals, but for people who shop all or mostly online, Thanksgiving and Cyber Monday were their second choice.
While there are some overachievers who start their holiday shopping in July, the vast majority of shoppers start in November and finish up by mid-December. Most do their shopping during Cyber Week, finishing up by Cyber Monday, with a few shoppers using post-Christmas sales to finish their shopping. This is a key audience to target with post-Holiday clearance sale promotions in their inbox.
For more Holiday 2022 insights, keep an eye on our blog and resource center.