29 Aug Blog: Holiday Shopping Trends…The Race is on!
SymphonyIRI recently revealed consumer holiday shopping trends with the release of new research, “SymphonyIRI Group Special Report: Holiday Shopping 2010.” The report summarizes survey findings from 1,000 consumers to reflect a cross-section of American shopper’s holiday spending plans for 2010. The primary takeaway is simple: while consumers are being conservative, there is plenty of opportunity to be had for retailers. Consumers do recognize the holidays as a special time. Almost half of consumers are looking to maintain family traditions and feel compelled to meet seasonal expectations. In short, consumers are looking to provide indulgence on a budget.
The survey reflects a trend that SymphonyIRI has been seeing from consumers throughout 2010 in which households of all income levels are still spending, but they’re being more resourceful and strategic with their budgets. A few examples include making lists, purchasing store brands, giving practical gifts, shopping across channels, looking for bargains and utilizing coupons.
In case you missed the recent webinar, below is a brief slideshow to give you a taste of what we have in store during the next few months as the holiday season takes flight.
If you’re not following SymphonyIRI on Twitter yet, start following us @SymphIRI. Below is a brief recap of our live Tweets from the webinar.
* This year, be out early & often, reach into consumers’ homes during planning, connect w/ shoppers through both old and new media
* About one-third of households earning $ 55K and more are comparing products on the Internet more frequently this year before making holiday celebration-related food and beverage purchases
* Holiday cut backs: 40% of consumers will actively work to reduce debt & 25% of shoppers R looking 2 increase savings
* 49% of consumers stated that would like to RECEIVE gift cards as a gift this holiday season
* 24% of consumers indicate that they will purchase more functional gifts this year than they did last year
* This year, 30% of shoppers plan to purchase holiday gifts in the dollar channel.
* 54% of consumers plan 2 shop online for holiday gifts. Internet usage this holiday season will skew toward wealthier households.
* Even among the country’s wealthiest households, one-quarter of consumers are shrinking their holiday gift purchasing budget.
* Holiday Spending Webinar – 59% will spend less than $ 500 on holiday gifts this year!
* Holiday 2010 budget influencers: Finances are tighter versus last year / concerned about immediate financial future and economy
* Develop marketing messages that will “wow” shoppers w/delectable feasts & generous gifts an affordable reality.
* 25% of beer, wine, spirits shoppers, though, plan to trim back expenditures this year
* Those planning beer, wine & spirits purchases this holiday season: nearly 66% are budgeting in line with budgets from last year
Watch the archived webinar @ Holiday Shopping 2010