Buying gifts for friends and loved ones is a way for consumers to shift focus from the uncertainty and stress of the pandemic to celebrating the holidays and the promise of our return to a better tomorrow. In total consumers plan to spend $997.79 on gifts, holiday items such as decorations and food, and additional “non-gift” purchases for themselves and their families, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.
“Consumers have demonstrated their resilience and adaptability throughout these extraordinary times,” said NRF president and CEO Matthew Shay. “Looking ahead to the holiday season, retailers will ensure that their stores are safe for both customers and employees as we all prepare to celebrate family and friends during this special time of the year.”
While overall spending in these categories is down by about $50 from last year, nearly all ($45) of the decrease comes from consumers’ hesitation to use seasonal sales and promotions to buy other, non-gift purchases for themselves and their families. Even still, consumer spending on gifts is on par with last year, decreasing by only about $8, while per person spending on other holiday items like decorations is actually up slightly. Expected spending remains significantly higher than the 5-year average for both those categories. The holiday season is top of mind, with 42% saying they plan to start their holiday shopping by the end of October and another 41% in November.
One in five (19%) holiday shoppers say that they typically travel for the holidays but will stay home instead this year. Over half (53%) of those who changed their holiday travel plans said they are likely to spend more on holiday items this year, specifically because they will not be traveling.
With holiday inventory and promotions starting even earlier than usual, consumers remain flexible with their holiday shopping plans. The vast majority admit they could be convinced to start shopping earlier than they typically do through incentives like holiday deals or to avoid crowds or the stress of last minute shopping.
“Consumers are taking advantage of a variety of offerings from retailers this holiday season including earlier sales promotions and shipping options,” said Phil Rist, Prosper executive vice president of strategy. “Consumers are focusing on making the holidays special for others but are playing it by ear when it comes to those ‘extra’ items they might get for themselves.”
As online sales have skyrocketed during the pandemic, it comes as no surprise that the majority (60%) of consumers say they plan to purchase holiday items online this year. Nearly all (91%) online shoppers plan to take advantage of free shipping, while another 44% plan to use buy online, pick up in store and 16% plan to use same-day delivery.
Other top holiday shopping destinations for consumers include department stores, mentioned by 45%, discount stores (43%), and grocery stores or supermarkets (42%).
The survey asked 7,660 consumers about winter holiday shopping plans. It was conducted October 1-9 and has a margin of error of plus or minus 1.1 percentage points.
Words by Farimah Moeini, Snapchat Head of Industry – Retail and Travel TheJuly 5, 2021 | By RetailME Bureau
Snapchat has been betting big on Augmented Reality’s (AR) retail future consideringJune 22, 2021 | By Jibran Chouguley
Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and
UAE-based Al Maya Group announced that it will be boosting import of
UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
E-commerce giant Amazon’s founder Jeff Bezos has stepped down as CEO, handing
American clothing retailer, PVH has increased the number of active job advertisements
Extravagant, conceptual, great food and views are some of the ways that
As the UK begins to return to normality, Father’s Day shoppers are
Abu Dhabi’s state investment company ADQ is in talks to invest about $500 million
Netflix has announced the launch of its e-commerce platform where show merchandise
Global e-commerce giant Amazon has announced that it has struck a deal
French luxury conglomerate LVHM’s chairman, Bernard Arnault on Monday replaced Jeff Bezos
Amazon.com Inc. will supplant Walmart Inc. as the biggest U.S. retailer by 2025, according to
The once powerful department stores that anchored malls and streets around the
Who isn’t a sucker for discounts? Customers today are spoiled for choice
The various e-commerce and virtual retail stores that cater to different product