Survey: Consumers to seek deals to stay on budget for holidays
Consumers are prepared to spend the same amount or more than last year on holiday gifts, but going over budget remains a concern for many.
According to a new survey conducted by Wakefield Research on behalf of off-price retailer Burlington Stores, more than half (58%) of consumers are concerned about spending more than they planned to this holiday season. That concern is even higher among parents (69%), particularly Gen Z parents (77%).
More than a third (37%) of respondents said they plan to start holiday shopping before Black Friday and Cyber Monday, while the majority (86%) plan to begin holiday shopping before Dec. 1.
The survey also found that many shoppers are looking forward to visiting physical stores for their holiday needs. The ability to interact with and try on items before purchasing is the leading factor (70%) for many when in-person shopping.
[READ MORE: ICSC: Nearly all shoppers to visit a store for holiday shopping]
This was followed by discovering unexpected finds (55%), the simple pleasure of getting out of the house (54%), scoring a great deal (50%) and taking purchases home immediately without waiting for delivery (50%).
More than half (58%) of those surveyed said the idea of shopping on a smaller holiday budget this year excites them because of the hunt for the best deals. Nearly nine-in-10 (87%) say getting a great deal brings them more satisfaction than owning a luxury item.
"Shoppers are savvy, and they're strategically searching for ways to save this holiday season," said Chris Miller, executive VP, chief marketing officer at Burlington Stores. "Supported by our reimagined store design and consistent rotation of fresh merchandise, Burlington delivers the trending brand names on consumers' shopping lists at the prices they're hunting for.”
The Burlington Survey was conducted by Wakefield Research among 2,000 nationally representative U.S. adults ages 18 and up, between July 24 and Aug. 5, using an email invitation and an online survey.
