Tuesday, October 11, 2011
The holiday season is coming soon, and consumers are going to start shopping even sooner. PriceGrabber survey indicates that 45% of consumer intend to spend less money during the shopping season for the 2011 winter holiday in comparison to last year’s holiday season. Another 49% claim they will spend the same amount money, while only 7% will spend more this year.
The most obvious reason that leads consumers to spend less money this year than they did last year is the overall economic outlook, as 68% of shoppers claim. The reason why 70% of shoppers indicated that they will spend less money this year is because of the increase in prices of food, gas, and other necessities. Also, 49% of these consumer will spend less because of the acceptance of buying cheaper gifts, 46% lack confidence in the economy, 43% earn less income than last year, and 37% mention the decline of the value of their homes and savings.
As for those who said they will spend more in 2011’s holiday season than last year’s, 27% want to buy better gifts, 25% earn more income, 14% have confidence in the economy, and 5% found a job this year. 2% will spend more because of increase in credit.
Because of the current state of the economy, 70% of consumers claim that they believe retailers “will offer better prices and discounts on merchandise.” The biggest tactics that appear to be the most appealing to 75% of consumers are price cuts and free shipping, then comes coupons and blowout sales.
Graham Jones, general manager of PriceGrabber claimed the “survey data found that shoppers are not only expecting to find great prices and bargains this holiday season, but 53 percent will start shopping earlier this year to spread out the impact of purchases, and 33 percent are beginning their holiday shopping in October. This finding implies that consumers are strategizing to capitalize on the holiday sales that appear to begin earlier in the season each year, as we just recently saw with the back-to-school shopping season. The economy's resistance to improve significantly will give retailers added incentive to lower their prices, especially as consumers have become savvier since the beginning of the economic downturn.”
The survey also indicated that shoppers are using mobile devices to aid with their purchases of gifts. Consumers can now compare prices online before they make any purchase to find the best deals, whether the deal was at the store or online. This is especially true to mobile application for iPhones, Androids, and iPads, where consumers can compare prices across different suppliers with the goal of buying cheaper gifts.
Jones claimed, "By comparison-shopping on a Website such as PriceGrabber or visiting the number of discount designer retailers available online, holiday shoppers can more easily purchase a 'splurge' item that won't break the bank."
| About the Author: Soud is a staff writer for the iEntry Network. |
email: info@als-alexander.org or interalex2@gmail.com
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