Holiday Spending To Grow, New Survey Reveals
Nearly half (45%) of holiday shoppers plan to browse and buy items before November, which is consistent with recent years and up from 40% 10 years ago. The top reasons for early shopping include spreading out their budget (59%), avoiding the stress of last-minute shopping (45%), avoiding crowds (42%), and pursuing prices or promotions that cannot be missed (42%). Despite the early start, most consumers (62%) anticipate finishing their shopping in December.
Online remains the top destination this year, with 57% of consumers planning on making their holiday purchases online. This is followed by department stores (46%), grocery stores and supermarkets (46%), and discount stores (45%).
“While most consumers will opt to shop at traditional retailers this holiday season, many younger consumers between the ages of 18 to 24 will also head to thrift stores and resale shops,” said Phil Rist, executive vice president of Strategy with Prosper. “Secondhand and refurbished gifts appeal to this age group’s desire to save money and be more sustainable.”
Gift cards remain the most popular item on consumers’ wish lists, with 53% of shoppers requesting them this year. That is followed by clothing and accessories (49%), books and other media (28%), and personal care or beauty items (25%).