Vacation Purchasing by the Numbers: Tendencies for the 2023 Season

With Black Friday a month away, it’s formally the vacation procuring season. To get a learn on how customers re procuring, spending and strategizing for the vacations, RetailMeNot has performed one other survey (see our early holiday trends data here) of 1,089 customers (see methodology).

Amongst our high findings:

  • The vast majority of customers are planning to take part in vacation reward procuring this yr. 
  • Inflation continues to be affecting consumers, inflicting many to deal with on the lookout for offers and cheaper gadgets.
  • Vacation procuring budgets are greater this yr than final yr.

Inflation Is Placing a Damper on Vacation Spending, Main Consumers to Deal-Hunt

Though inflation continues to impression customers’ vacation procuring plans and budgets this yr, RetailMeNot discovered that consumers are planning to spend extra this yr in comparison with final yr ($932 on common this yr vs. $725 in 2022), most certainly resulting from having to fight at this time’s rising costs throughout all procuring classes. Of the $932 customers plan to spend, about $732 will likely be spent on presents and $200 on themselves.

infographic showing top categories holiday shoppers are looking for deals on

With so many vacation consumers nonetheless feeling the results of inflation, it’s clear that on the lookout for offers and getting the perfect bang for his or her buck stays a high precedence. Our survey revealed that consumers are greater than prepared to avoid wasting throughout quite a few procuring classes this yr, with electronics (83%), make-up & skincare (79%), and toys & video games (77%) coming in as the highest product classes customers are looking for offers and reductions on. The opposite merchandise that customers are prone to seek for offers on this vacation season embrace:

  • Clothes (together with sneakers and equipment): 77%
  • Dwelling home equipment (e.g., sluggish cooker, grill): 76%
  • Journey (e.g., airplane tickets, resort room, baggage): 75%
  • Jewellery: 75%
  • Dwelling enchancment (e.g., drills, software set, gardening provides): 72%
  • Media to personal (e.g., books, motion pictures, video video games): 72%
  • Dwelling furnishings (e.g., a desk, a mattress: 71%
  • Sports activities and out of doors recreation (e.g., baseball gloves, fishing gear): 71%
  • Dwelling items and décor (e.g., dinner plates, pillows, wall artwork, rug): 71%
  • Excessive-end merchandise: 71%

Reward Playing cards High Purchasing Vacation Lists for 2023

Regardless of the main position rising costs are taking part in on this yr’s vacation procuring season, the bulk (79%) of consumers are nonetheless planning to take part in vacation reward procuring this yr and 72% of customers are planning to buy vacation gross sales occasions (October to December). However what are they shopping for and who are they looking for?

We requested what presents/companies customers are most certainly to purchase this vacation season and in accordance with RetailMeNot insights, these are the merchandise that high procuring lists:

  • Reward playing cards: 54%
  • Clothes, together with sneakers and equipment: 47%
  • Toys and video games: 42%
  • Cash: 33%
  • Meals and beverage (e.g., meals baskets, wine, liquor): 30%
  • Eating places (e.g., restaurant reward playing cards, treating the giftee out to a restaurant meal): 27%
  • Electronics (e.g., laptops, gaming consoles, smartphones): 24%
  • Make-up and skincare: 24%
  • Jewellery: 23%

On the subject of prioritizing their reward recipients, children are primary. Nevertheless, greater than half of consumers (52%) plan to do some self-gifting this yr (up from 45% final yr).

  • Youngsters or Grandchildren: 59%
  • Self: 52%
  • Partner/important different: 47%
  • Pals: 41%
  • My dad and mom or stepparents: 40%
  • My siblings or stepsiblings: 33%

With extra customers planning to buy themselves this yr, we needed to seek out out the explanation for the rise ($200 common spend on themselves in 2023 vs. $160 in 2022). Our survey revealed that almost all are selecting to self-gift as a strategy to not solely make the most of the nice offers throughout this time of yr, but in addition to deal with themselves and enhance their temper. The highest causes for customers shopping for extra presents for themselves this yr embrace:

  • Making the most of vacation gross sales and reductions: 54%
  • Self-gifting/treating myself: 45%
  • To spice up my temper and well-being: 41%
  • Shopping for seasonal merchandise (e.g., decorations, meals, clothes): 30%
  • Making the most of day without work work to buy: 13%
  • To determine a convention for myself: 13%
  • To provoke the upcoming yr with a contemporary begin: 13%
  • Making the most of day without work work to make use of the services or products I purchase: 11%

Most self-gifting is concentrated round vogue and self-care gadgets. These are the highest gadgets consumers are planning to purchase for themselves this yr:

  • Clothes, together with sneakers and equipment: 47%
  • Make-up and skincare: 30%
  • Electronics (e.g., laptops, gaming consoles, smartphones): 24%
  • Meals and beverage (e.g., meals baskets, wine, liquor): 24%
  • Eating places (e.g., treating myself to a restaurant meal): 22%
  • Family provides (e.g., stocking up on family requirements): 19%
  • Jewellery, 19%
  • Dwelling items and décor (e.g., dinner plates, pillows, wall artwork, rug): 17%
  • Media to personal (e.g., books, motion pictures, video video games): 17%

When will customers discover time to do all this procuring? Our survey discovered that 60% of consumers say they really plan to do their vacation procuring on-line (looking or buying) throughout work hours this season.

Put up-Vacation Purchasing Tendencies

Consumers have some post-holiday procuring methods and financial savings plans, with many planning to make the most of after-holiday offers and search out a extra leisurely procuring expertise. Others will even utilize their own gift returns to get funds for shopping.

Our survey discovered that 49% will store the post-Christmas procuring interval to make the most of clearance gross sales and reductions. Others plan to buy these gross sales to:

  • Store with fewer crowds in shops: 27%
  • Deal with themselves/reward themselves a gift: 25%
  • Trade a present they obtained or store with retailer credit score from an alternate: 18%
  • Take pleasure in extra free time to buy: 17%

The highest merchandise consumers are planning to buy post-holidays embrace:

  • Clothes: 37%
  • Make-up & skincare: 21%
  • Meals & beverage: 21%
  • Electronics: 20% 
  • Reward playing cards: 20%
  • Toys and video games: 17%
  • Restaurant reward playing cards or a meal at a restaurant (alone or treating somebody) they usually wouldn’t go to: 17%
  • Dwelling items and décor (e.g., dinner plates, pillows, wall artwork, rug): 16%
  • Family provides (e.g., gifting family requirements, stocking as much as begin the yr): 15%

Survey Methodology

Ziff Davis Purchasing Shopper Survey of adults (18+) who’re retail consumers, with 1,089 respondents. Fielded in September 2023.

The submit Holiday Shopping by the Numbers: Trends for the 2023 Season appeared first on The Real Deal by RetailMeNot.

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