Market Research Survey Finds 52% of Americans Plan To Spend $500 or More on Holiday Gifts

Dec. 11, 2010 - PRLog -- The holiday season is often marked by good feelings where people are looking forward to spending more time with family and friends, eating good food, relaxing and shopping.  Buying and exchanging gifts becomes a priority during this time of the year.  In fact, according to a recent consumer survey conducted by Persuadable Research Corporation (http://www.persuadables.com), an online market research company, 52% of American plan to spend $500 or more on gifts this holiday season.  8% of respondents plan to spend more this year than last, and 18% plan to spend over $1000 on gifts.  Overall, it seems that people are planning to spend a little more this season, which should make retailers happy.

What do people want this holiday season?  Many respondents’ answers focused around electronic items such as TV’s, laptops, iPads, and computers.  Others mentioned vacation packages, but quite a few respondents stated that they would just like to get cash or gift cards in lieu of an actual gift.  Others cited non-materialistic wishes, such as the safety of their loved ones stationed in Iraq or Afghanistan, or being able to spend more time with family.  Being thankful for having a home or job was also brought up.  The economy has played a role in tempering consumer behavior.

Most respondents waited until black Friday to start shopping, 44%.  There was very little change between last year and this year as far as how soon people started shopping.  19% stated that they began holiday shopping three months ago, while 9% got started six months in advance.  Only 5% said they shop at least twelve months in advance. There are nearly a quarter of consumers who have not done their shopping yet. This group is  perhaps looking for more bargains or pressed for time.  There is an opportunity here for online retailers to offer great deals or free shipping to entice these buyers. Brick and mortar retailers might consider expanding store hours or offering other services for those who are simply too busy to shop.

What motivates this season’s holiday shoppers?  The majority, 56%, are looking for price discounts or sales, mostly at large discount stores such as Target or Wal-mart, 41%, and the local mall, 21%.  Purchase incentives were cited by 8% and gift sets by 7% as a motivating factor for shopping.  Surprisingly, only 5% mentioned planning to take advantage of coupons.  Almost a third, 29%, intend to shop online, and 22% cited free shipping as a big draw.  A much smaller percentage of shoppers, 2%, will visit specialty shops.

According to the survey results, it appears that Americans will spend just slightly more this holiday season than last.  Part of that spending might hinge on what kind of deals and discounts are offered by large discount stores and mall stores.  Online shoppers might respond more readily if free shipping is offered.  Americans appear to be ready for a gift filled holiday season as long as the price is right.

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