With the Holiday season coming close, people are kick starting their shopping this year. Businesses are naturally expecting a blow from inflation and supply chain concerns. As they will most likely have an adverse effect on the spending habits of the shoppers.
This week, Insider Intelligence has released its 2022 HOLIDAY TRENDS GUIDE. Key sources of this survey are 1000 U.S. shoppers, with their age ranging from 16-54+. It also highlights that the shopping season will peak in October and November. While 78% of consumers will shop for their friends, only 8% will shop for their service providers.
Key Highlights of the published report –
- Though apparel or jewelry will maintain its position, gaming or entertainment products and gift cards will top the list. With Inflation and economic uncertainty hitting the majority of shoppers, it will offer the opportunity to save more. Shoppers will avoid spending on High-end gifts and prefer buying gifts with more emotional than monetary value. The lowest range is $0 – $199, 5% more shoppers are willing to spend in this range than last year.
- Inflation and Price increase will drive the decision of shoppers this year, making them adjust according to the price. Buyers will look forward to making the purchase when the items are on discounted rates or on Black Friday and Cyber Monday sales. These promotions, rebates and coupons are now a crucial part when deciding what holiday items to purchase.
- Rather than still relying upon the advertising that is conventional, shoppers are inclined more towards modern advertising this year. The kind of advertisements that are based on their browsing data will dictate their purchase pattern.
- This year shoppers are ready to embrace new shopping tech with open arms and are seeking connection across channels. Though Inflation and Price increase are the terms heard everyday, they seriously had an immense effect on the households. Shoppers more than ever will take saving seriously this time. The report is an interesting overview of what 2022 shopping season will look like while also providing businesses important facts and figures to improve their services and tactics
You can Download the complete guide here – 2022 Holiday Trends Guide