Bringing in the holidays How will consumers spend this year?
of US and 27% of UK shoppers plan to start their holiday shopping in November and do most of it online
of US and 47% of UK shoppers plan to spend the same or more this year as compared to before
of US and 27% of UK shoppers plan to pay for this year’s holiday shopping using their credit card
The holiday season this year promises to restore sales to pre-Covid levels, if not surpass them, as shoppers look forward to getting into the usual holiday spirit after a year of muted celebrations. This report delves into consumer preferences and changing trends that will drive holiday shopping amid the ongoing pandemic.
Major retailers across countries have already begun announcing holiday deals as restrictions lift and consumers get comfortable returning to physical shopping. While online sales will continue to gain massive traction as we near the holidays, brick-and-mortar stores will be banking on new offerings like BNPL (buy now, pay later) installment plans and BOPIL (buy online, pick up in-locker) facilities to attract customers and ensure a smooth and safe shopping experience. However, the ongoing supply chain disruption and shipping delays due to Covid outbreaks in other countries have created a sense of urgency as consumers fear higher prices, limited stocks, and longer shipping times. Amid all the challenges as well as the excitement, how will holiday shopping shape up this year? Piplsay polled 30,370 Americans and 9,700 Britons to get some insights. Here is a summary of what we found:
- 40% of Millennials in the US plan to spend over $1000 on holiday shopping as compared to 34% of Gen Xers and 26% of Gen Zers
- Similarly, 40% of Millennials in the UK plan to spend over £1000 on holiday shopping as compared to 26% of Gen Xers and 34% of Gen Zers
- 44% of Millennials in the US plan to use the ‘buy now, pay later’ service as compared to 28% of both Gen Xers and Gen Zers
- Similarly, 50% of Millennials in the UK plan to use the ‘buy now, pay later’ service as compared to 24% of Gen Xers and 26% of Gen Zers
Survey Methodology: This Piplsay survey was conducted nationwide in the US and the UK from October 8-10, 2021. We received 30,370 and 9,700 online responses respectively from individuals aged 18 years and older.
Piplsay research reports reflect independent opinions of respondents and are not sponsored by any organization or individual. The survey questionnaires are based on key consumer trends.