Fall is here and that means grocers are gearing up for Halloween, Thanksgiving, and Christmas parties, but a new poll from 84.51° shows that many shoppers are holding off on spending until after the presidential election on Nov. 5.
Nearly one out of every five respondents (18%) to the Kroger-owned data analytics firm’s survey said they are holding off on big-ticket item purchases until after the election, and 15% are waiting on making any investment decisions.
Over half of Kroger customers who participated in the survey (53%) said they have no plans to curtail their spending until after the election.
Younger shoppers are the most likely to take a wait-and-see approach to spending until after the election. Sixty-two percent of those between the ages of 18 and 34 said they’re holding off on purchases until after the election. That drops to 44% for those aged 35 to 54 and to 42% for those aged 55 to 74.
Meanwhile, shoppers are ready for the holidays with 96% reporting that they plan to celebrate one or more of the following holidays: Halloween (65%), Thanksgiving (89%), Christmas (91%), and New Year’s Eve/Day (69%).
Shoppers are looking to save money this year with 71% prioritizing sales, deals, and coupons. More than two out of five respondents (44%) said they are concerned about their holiday spending this year, and 43% said they are looking to do their shopping at stores with the biggest discounts.
More than nine out of every 10 survey respondents (91%) plan to spend the same or less this year than in 2023.
They plan to find holiday deals through digital coupons (75%), weekly ads and circulars (65%), retailer’s website (60%), retailer app (52%), cashback apps and websites (36%), personalized paper coupons (34%), word of mouth (27%), and manufacturers’ websites (25%).
Twenty-two percent of survey respondents are hoping to skip the store completely and plan to do their holiday shopping online, according to the report.
Food and gifts are likely to make up the biggest share of the holiday spending pie this year with 44% of survey respondents saying they plan to buy gifts and 43% planning to buy holiday food items.
Major shopping events will mark the holiday shopping kickoff for many shoppers this year with 67% saying they plan to shop on Black Friday, 62% on Cyber Monday, and 20% on Small Business Saturday.
Ninety-two percent of shoppers between the ages of 18 and 34 plan to shop during one of the holiday sales events, according to the survey. That drops to 83% for shoppers between 35 and 54, and to 66% for those aged 55 to 74.
Halloween is right around the corner, and 53% of shoppers plan to decorate their home for the holiday. Another 48% plan to carve a pumpkin, 43% will stay home and hand out candy, 36% are stocking up on candy to give out, 33% are trick-or-treating in the neighborhood, and 26% plan to attend a Halloween party.
Mass retailers are set to sell the most decorations at 43% compared to 33% for traditional grocery stores. While chains like Walmart and Target are likely to sell the most decorations, traditional grocers are likely to sell the most candy. Sixty-two percent of shoppers plan to buy their candy from grocery stores, while 43% plan to shop at mass retail stores, and 23% plan to go to club stores.