Two-thirds of Americans plan to spend either the same or more in 2023 as they did in 2022 on retail purchases despite continued inflation and the potential of a recession.
But a significant proportion will be deal hunting, and they’ll be doing a lot of it in physical stores.
A new survey commissioned by DailyPay and Dollar Tree, conducted online by The Harris Poll and including more than 2,000 adults across the United States demonstrated that 67% of Americans don’t plan to cut back their spending. Still, 44% are more likely to prioritize shopping for bargains in-store this year versus last. Then, 73% plan on shopping the same or more in-store in 2023 as compared to 2022.
The survey also touched on consumers’ preferences regarding purchasing particular items in-store versus online. The in-store intention rates:
- 81% for furniture
- 69% for home goods
- 65% for apparel
- 65% for sporting goods
- 59% for electronics
“Our customers are incredibly savvy and taking advantage of our value-price model to stretch their money even further during these uncertain economic times,” said Mike Creedon, Dollar Tree COO, in announcing the survey results. “While discretionary purchases remained strong, we’re also seeing an increase in consumables in Dollar Tree and Family Dollar stores.”
