As they look ahead toward year’s end, 81% of consumers responding to a Shopkick survey say they’ll use shopping rewards apps and/or coupons as part of their holiday purchasing strategy to combat inflation.
In the survey, 38% of consumers said they plan to do their shopping before Halloween, and 44% will begin before Thanksgiving, the shopping rewards app operator stated. As for major shopping occasions, only 37% of consumers said they plan to shop on Black Friday this year, a 24-point decrease from 2021; and 20% plan to shop on Cyber Monday, a 47-point decrease from 2021.
In previewing the holiday season Shopkick noted that other results from the survey include:
- Hottest Holiday Items. When asked what category they expect to spend the most on when shopping for gifts, 55% of consumers said apparel, followed by toys and video games, at 44%, home, at 36%, electronics, at 36%, beauty, at 23%, experiences such as concert tickets, travel vouchers, etc., at 16%, and wellness and fitness, at 13%.
- Online Or In-Store. Shoppers are evenly split between shopping primarily in-store or online, 50% either way. Last year, 71% planned to shop physical and virtual retail rather than focus on one or the other. Of the consumers shopping in-store, 83% plan to purchase holiday gifts at big box stores, followed by off-price retailers, at 44%; department stores, at 37%; and club stores, at 33%. For those prioritizing digital shopping, online-only retailers reign supreme, as 77% of consumers plan to shop at sites such as Amazon, Wayfair, Overstock and Etsy.
- Deal Day Generations. Unlike last year, older generations are more likely than their younger counterparts to take advantage of deal days, with 40% of Gen X and 38% of Baby Boomers planning to shop on Black Friday, versus 18% of Millennials and 3% of Gen Zers, respectively.
- No Strategy, No Problem. This year, 42% of consumers said they do not have or plan to have a holiday shopping strategy. For those who do, their main strategy is to use shopping rewards apps and/or coupons, at 81%; while others plan to shop earlier and spread out purchases, at 70%; prioritize deal days and big sales, at 56%; and prioritize purchasing gifts for their closest friends and family, at 55%.
- Sale Seekers. In terms of motivation, 79% of consumers said that sales and promotions will influence them most when it comes to holiday purchases. Other factors such as ads, at 22%, and in-store holiday decor, at 18%, will also affect their shopping decisions.
- Inflation Impact. The majority of respondents, at 62%, say inflation and the chance of recession have impacted the way they plan to shop for the coming holiday. To save money on holiday purchasing, 77% plan to tighten their shopping budget, while others plan to shop for deals and sales, at 48%; limit the people on their gift lists, at 41%; and shop more online to save on gas, at 32%.
- Slim Spending. As they consider their finances, 39% of consumers intend to spend less on holiday shopping, with 68% saying they have a smaller budget because of inflation. Just 17% plan to spend more and 35% of those consumers say it’s because they have more people on their gift lists. By generation, 40% of Baby Boomers expect to shop for more people, followed by Millennials, at 34%, and Gen Zers, at 5%.
- Shipping Savvy. Free shipping and returns are the most important incentive when it comes to shopping online for 84% of consumers. Other online shopping incentives include fast shipping, important to 46%; flexible and extended return policies, to 36%; buy now, pay later, to 20%; and buy online, pick up in-store, to 12%.
- Sustainable Shoppers. Despite most consumers being concerned about inflation impacting their budgets, environmental responsibility is still on their minds, as 60% will consider sustainability when holiday shopping this year.
In announcing the survey results, Brittany Billings, executive Vice president, global marketing at Shopkick parent Trax, said, “Consumers are jump-starting their holiday shopping this year to help ease concerns around increased prices and regulate their spending patterns so they’re not stuck with unmanageable expenses at the end of the year. Brands should prepare and merchandise holiday-related products earlier and not solely rely on previously considered major shopping days to hit their sales targets. Create opportunities throughout the season both in-store and online to entice the consumers to make their holiday-related purchases earlier.“
