The newly released 2020 Holiday Shopping Survey, which looks at consumer intentions and behaviors as the holiday shopping season approaches shows some interesting info.
The survey includes data on the amount people plan to spend, shopping methods, timing, and top gifts people plan to purchase for their loved ones this coming season.
Findings from the survey will be especially useful to brands trying to tap into consumer thinking and spending after months of economic uncertainties due to the coronavirus, according to a 5WPR news release.
“There are many questions regarding how the coronavirus will impact holiday shopping habits and preferences,” said 5WPR President, Dara A. Busch in the release. “As publicists, it’s important that we guide our clients through these tough times. These insights play an integral part in understanding consumer motivations, and help guide our recommendations to clients on how and where they should be focusing their communications efforts.”
When it comes to favorable shopping methods, adjusted store hours, and closings, several major retailers have decided to keep their doors shut on Black Friday, lending to the idea that online will be the preferred method of shopping.
However, an overwhelming 61% of people surveyed still plan to buy gifts both online and in-store. Surprisingly, only 18% plan to do all of their shopping online. Furthermore, 54% of Americans are going to be finding ideas for holiday gifts in-store, meaning shopping in person is still going to be very much a part of this holiday season.
Economic woes aside, 53% of Americans still plan to spend the same amount of money on gifts as they did in 2019, and 18% of respondents claim that they plan to spend even more than they did last year.
“Americans experienced a shutdown that was previously unimaginable. As cities and stores continue to lift heavy restrictions, shoppers are looking for an escape that heading out to the store provides,” Busch said. “Consumers will be searching for a sense of normalcy to get them into the spirit, and in-store shopping for gifts is one of the oldest holiday traditions. This creates a huge opportunity for brick and mortar stores that have been struggling to attract clientele even before temporarily closing their doors in response to the pandemic.”
The Holiday Shopping Survey was conducted by Censuswide, with 2,000 respondents aged 16+ in the USA between 14.09.20-18.09.20. The survey was conducted from a nationally representative of American adults. Censuswide abides by and employs members of the Market Research Society which are based on the ESOMAR principles.