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10/09/2023


NEARLY HALF OF HOLIDAY SHOPPERS PLAN TO SEEK OUT SALES EVENTS

Zachary Russell
Digital Editor

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Another survey confirms that saving money is top of mind for holiday shoppers
this year.

Nearly half of U.S. consumers who plan on shopping this holiday season say they
will utilize pre-season sales events to find the best deals, according to a new
survey from Mintel. Forty-four percent of consumers polled said they will shop
during these events, including Amazon Prime. Black Friday and Cyber Monday
remain popular, with 45% of those surveyed saying they will shop on the
post-Thanksgiving shopping days. Over a quarter (28%) of winter holiday shoppers
agree that it is even more critical to shop on Black Friday or Cyber Monday than
previous years because of inflation/rising prices.

When asked how inflation impacts their spending, 42% of winter holiday shoppers
say they purchase fewer gifts, while nearly a quarter (24%) say they switch to
lower-priced retailers. 

Three in five (59%) consumers who plan to do winter holiday shopping in 2023 say
they want to spend the least amount of money possible. However, 62% of winter
holiday shoppers say they are excited to resume more in-person events and
gatherings, which could increase spending.

"While the inflation rate may be cooling from peak highs, consumers are still
feeling the squeeze of economic pressures,” said Brittany Steiger, retail and
e-commerce analyst at Mintel. “In 2022, consumers pulled back on their holiday
spending, purchasing fewer gifts and setting spending limits. This year, our
research shows that consumers will participate more in pre-season shopping
sales, such as Amazon Prime Day, to take advantage of the deals and discounts as
they remain value-conscious and look to spend as little as possible.”

Increased prices could lead many shoppers to opt for pre-owned gifts. Nearly
half (48%) of winter holiday shoppers agree they are open to shopping for
pre-owned gifts, with 68% of Gen Z consumers aged 18-24 revealing they are most
likely to shop second-hand this holiday season

Mintel predicts that winter holiday sales will grow 5.4% to reach $1.07
trillion.

"To remain competitive, retailers must position sales and promotions throughout
the season and consider personalized deals that are tailored to consumers'
preferences,” added Steiger. “Our research shows the most popular retail
promotions are percentage-off discounts, BOGO deals, gift card offers and free
gifts with purchase."


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