Holiday shoppers are willing to cut spending in other areas.
A new survey reveals consumer attitudes toward shopping for holiday gifts.
According to “Gift or Grinch? Unwrapping This Season’s Shopper Spending Plans,” a survey of 4,000 U.S. and U.K. adult consumers from enterprise search software provider Coveo, reveals 59% of respondents say they plan to cut everyday purchases in order to prioritize gifting budgets, and more than three-quarters (76%) plan to maintain or increase gift purchases this holiday season.
Within this generally optimistic holiday shopping environment, the survey uncovered a number of specific factors that consumers say would help motivate them to make a holiday purchase.
For example, 90% of respondents said they are open to being persuaded to add items to their existing online order and 85% respondents said they are prone to impulse buys online, especially for fashion, shoes, and apparel. And more than two-thirds (68%) are planning to visit one or more retailers during Black Friday and Cyber Monday.
The survey also revealed the following holiday purchase drivers:
- Eight-in-10 respondents said they discover special offers via purely digital sources, including email, social media platforms, online search and online marketplaces.
- The most popular individual response for finding deals in general was through online or in-store store advertising and signage, with more U.K. respondents preferring this method than their U.S. counterparts (51% vs. 44%, respectively). Notably, only 13% of U.K. respondents said they learn about deals through print mailings/coupons, 14 points lower than the U.S. cohort (27%).
- More than half (55%) of respondents say they plan to grocery shop online or use delivery apps for holiday meals and parties, and, of these respondents, 20% say this is an increase to their typical online grocery shopping routine. This trend is even more pronounced among younger generations, with 69% of Gen Z and 68% of millennial respondents choosing these options.
- Six-in-10 (61%) respondents say that specific site search categories such as “gifts for dad” or “gifts under $50” would be helpful when gift shopping online.