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More than half of U.S. holiday shoppers say the economy will affect their spending plans, according to an NRF survey conducted by Prosper Insights & Analytics. Respondents report plans to seek sales, compare prices and use coupons, while many expect to shop both early and during Thanksgiving weekend.
Affordability is shaping holiday shopping plans for more than half of U.S. holiday shoppers, with 56% saying the state of the economy will affect how they spend this season, according to the National Retail Federation’s annual consumer survey conducted by Prosper Insights & Analytics. Among those affected, many plan to look for sales, compare prices online and use coupons to manage costs.
Among shoppers who said the economy would affect their plans, 43% expect to shop for sales more often, 31% plan to compare prices online more often and 29% expect to use coupons more often, the survey found. Those percentages describe strategies among the economy-affected group, not all holiday shoppers.
The survey also points to a mix of early planning and deal-seeking later in the season. Forty-three percent plan to begin browsing or buying before November, close to last year’s 42%. Among early starters, half say they want to spread out their holiday budget, while 37% cite attractive prices and promotions.
Later shopping remains part of the plan for many consumers: 64% say they are likely to wait until Thanksgiving weekend to do most of their shopping, compared with 63% last year. Online is the leading planned shopping destination, at 53%; grocery and discount stores each draw 43%, while 42% plan to shop at department stores.
How Budgets Are Shaping Shopping
The findings suggest retailers may face shoppers who are willing to participate in the holiday season but are paying close attention to price. The reported plans to seek discounts and spread purchases across time point to value and timing as key parts of consumers’ decisions, rather than a single shopping rush.
For consumers, the figures offer a snapshot of how others plan to respond to economic pressure: shopping sales, comparing online prices, using coupons and delaying some purchases for major promotions. They are intentions reported in a survey, however, and do not establish how much households will ultimately spend or whether promotions will meet their expectations.
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Early Starts Meet Thanksgiving Deals
Holiday shopping calendars in the survey span several months. Among consumers planning to wait until November, 46% say November and December are when they find the best prices and promotions. That reported reason sits alongside the early-start motivations: spreading out a budget and taking advantage of prices that shoppers consider attractive.
Nearly all U.S. adults surveyed—91%—said they plan to celebrate winter holidays, including Christmas, Hanukkah or Kwanzaa. The report says the share starting before November is similar to last year, and the likelihood of doing most shopping over Thanksgiving weekend is also close to last year’s result. It does not provide further year-over-year comparisons in the supplied findings.
“With affordability top of mind, holiday shoppers are taking a thoughtful approach to spending, balancing value with preserving traditions that make the holiday season special.”
— Allison Zeller, NRF vice president of industry and consumer insights
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What the Survey Cannot Show
The supplied report does not state when the survey was conducted, how many people were interviewed, or its margin of error. The results capture respondents’ reported plans, not completed purchases, actual holiday spending or changes in household budgets. The figures also do not establish which products shoppers will buy or how much they will spend.
It is also unclear from the available material how shoppers’ plans may change as the season progresses, or whether promotions will alter their decisions. The retailer-response comments are attributed to the NRF; no separate sales data or retailer examples are included in the source.
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Spending Plans Await the Season
The immediate next step is the holiday shopping season itself, when planned early purchases, online price comparisons and Thanksgiving-weekend shopping can be measured against what consumers actually do. The survey indicates that many shoppers expect to use promotions, but does not forecast sales totals or provide a spending estimate.
Further reporting would be needed to establish whether economic concerns change actual purchases, how retailers’ offers affect demand and whether consumers maintain the timing they reported. Until then, the findings should be read as a survey of intentions, not a final account of holiday spending.
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Key Questions
How many holiday shoppers say the economy will affect their plans?
Fifty-six percent said the state of the economy will affect their holiday spending plans, according to the NRF survey conducted by Prosper Insights & Analytics.
What cost-saving steps do those shoppers plan to take?
Among shoppers affected by the economy, 43% plan to shop for sales more often, 31% to compare prices online more often and 29% to use coupons more often.
When do consumers plan to start holiday shopping?
Forty-three percent plan to begin browsing or buying before November. Among those early shoppers, 50% say they want to spread out their budget and 37% cite prices and promotions.
Do shoppers still plan to wait for Thanksgiving weekend?
Yes. Nearly two-thirds, or 64%, say they are likely to wait until Thanksgiving weekend to do most of their shopping, close to the 63% recorded last year.
Where do consumers plan to shop?
Online is the leading planned destination, at 53%. Grocery and discount stores each register 43%, followed by department stores at 42%.
Source: rss
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