Study looks at 2021 consumer holiday shopping plans
With whisperings of supply chain shortages and shipping delays, I’m looking at my holiday shopping list and realizing that I am probably behind on buying gifts for friends and family. I’m not the only one, according to a survey by RetailMeNot, as 24% of U.S. shoppers start on their holiday buying in November before Thanksgiving.
Consumers are planning ahead
While 17% say they’ll get started on their gift list by Black Friday or later, 22% planned to start shopping in October, 18% in September and a whole 19% in August – a level of forward-thinking that I aspire to but will never reach.
Shoppers have enjoyed getting a head start before Thanksgiving in years past as well, but this year consumers are reporting an extra urgency to finishing up holiday shopping. Sixty-six percent said they prefer to complete all their holiday shopping as early as possible and 30% said they’re starting even earlier than they did last year.
Back to spending
While 2020 offered an extra incentive to tighten our budgets, spending is back on for 2021, with consumers planning to spend 15% more than they did last year – $885.76 on average, up from $766 in 2020. Where is that money going? It varies.
Older shoppers lean toward gift cards, with 75% of those 65 and older and 64% of those 55-64 planning to purchase them. This number drops to 44% for those 25-34 and 50% for those 35-44. Among the 18-24 set, makeup and skincare are favorites, with 36% planning to shop this category, the highest percentage in any age group. Women (45%) plan to do more toy shopping that men (33%) this year, while men (33%) are more likely than women (21%) to purchase large electronics.
Reaching retailers – online vs. brick-and-mortar shopping
Consumers are still COVID-aware this holiday season, with 52% saying they’ll be shopping online more because of the pandemic. Twenty-eight percent say they’ll stick to stores closer to home, while 25% plan to use curbside pickup. COVID-awareness extends to potential delays as well, with 59% of respondents reporting that they’re confident their orders will arrive before the holidays and 41% expecting the opposite.
Respondents’ love of online shopping is carrying over from 2020, when 56% of respondents said they’d primarily buy online rather than brave crowded stores. This number is down slightly this year to 51%, but online is still beating out in-store (49%).
The top three destinations for shoppers are big-box stores (64%), e-commerce retailers (56%) and department stores (43%) – but stores can always sweeten the deal for consumers with a few perks. Forty-six percent of shoppers say they’re more likely to purchase from a retailer that offers free shipping, while 45% put a premium on the lowest price for a gift, and 39% have their eye on holiday discounts. Consumers appreciate flexibility as well, with 37% saying they’re more likely to shop with a retailer that makes it easy to buy across online, mobile or in store. And of course, free returns on gifts (31%) no matter the buying format is important to holiday shoppers.
Refer a friend
At the end of the day, shoppers look to their friends and family for recommendations, with 62% of respondents saying their inner circle helps them decide what products to buy. Forty-three percent check product reviews by other customers, while 39% browse social media for recommendations. About the same number look to gift guides (32%) and product reviews by experts/publishers (31%) to help make holiday shopping decisions.
Methodology
Ziff Media Group conducted a general-population survey of 1,082 U.S. adults who planned to shop during the 2021 holiday season. Data was collected from July 23-26, 2021.