Is the Holiday Shopping Craze Driving You Crazy? Well, you are not alone. In fact, 73% of consumers do ALL of their holiday shopping between Thanksgiving and Christmas, according to the Deloitte Annual Holiday Survey. It is no wonder that this time of year can be very stressful, especially for those individuals with large families and long wish lists.
Here are some more shopping statistics to help put the whole holiday shopping experience into perspective for you.
In 2010, holiday sales accounted for a staggering $584.3 billion. But don’t let that number fool you; the recent state of the economy has definitely had a negative effect on holiday spending.
Planned holiday budgets have dropped from $1,052 in 2001 to just $646 in 2011, according to an American Research Group telephone survey of 1,100 people. And with budgets shrinking, shoppers are looking to get a little more bang for their buck. In fact, of the 1,100 shoppers surveyed, 53% said they plan to wait until items go on sale this year instead of paying full price. This may be the reason that during “Cyber Week” this year – Black Friday through December 2nd – online retailers experienced three of the four highest spending days in history.
This brings us to our next point; today’s consumers are more tech-savvy than ever, with 37% doing their shopping online (up from 15% in 2001) and 44% using social media to find discounts, read reviews, and check family and friends’ gift lists. But the Internet shopping boom is not the only technological advancement in holiday shopping. 27% of smartphone owners plan to use their phones to help with their holiday shopping.
• 67% will use their smartphone to search for store locations
• 59% will use their smartphone to compare prices
• 46% will use their smartphone to check product availability
Remember, when all is said and done, the holiday season is not about the gifts you give and receive; it is about spending time with family and friends. So don’t let crazy holiday shopping get you down! Be thankful for what you have.
Happy Holidays from everyone here at Observation Baltimore!
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2011 Christmas Gift Spending Plans Flat American Research Group, Inc.