Inmar Intelligence, a data-driven technology-enabled services company, today released data from its 2020 Inmar Intelligence Holiday Shopper Insights Report, which reveals how consumers are approaching their holiday shopping this year. While some consumers look to change up their holiday plans, this survey found that a majority are looking forward to regaining a sense of normalcy - shopping and celebrating just as much as they had previously. Out of the 3,700+ U.S. shoppers surveyed in July 2020, 73 percent plan to start shopping at the same time as last year, with 27 percent planning and making their holiday purchases in November. 57 percent of consumers still plan to shop for some holiday gifts at an online-only retailer, highlighting the importance of convenience and availability during this busy shopping season.
As far as holiday meal shopping goes, the survey found that 71 percent of holiday shoppers plan to make some purchases in the supermarket or grocery store, suggesting that shoppers are still making their way into brick and mortar stores for necessary items. With this said, holiday shoppers are still cautious when in-store - 62 percent made it clear that retailer’s mask and social distancing policy was important when deciding which stores to shop at for holiday purchases.
Celebrating with family and friends by attending or hosting events is still a priority for shoppers this holiday season. 55 percent of holiday shoppers said that none of their previously planned in-person holiday events have been changed to digital or virtual gatherings, with 41 percent saying they don’t expect their plans to go digital either. Additionally, half of holiday shoppers surveyed (54 percent) expect to buy food items for 1-3 holiday events around November and December.
This year, shoppers are taking their time when determining a budget for holiday spending. 71 percent of holiday shoppers have not yet determined a total budget for holiday spending and out of the 29 percent that have, 53 percent said that their total budget will be the same as last year. The average budget that shoppers are setting for holiday gifts, for those who have determined one, is $385, while the average budget for holiday meal items is $243.
“The holiday retail cycle is one of the most important times of year for retailers and brands alike and this year will be no different in this regard,'' said David Mounts, Chairman and CEO of Inmar Intelligence. “The data has shown that many consumers are looking for some normalcy when it comes to the holiday shopping season, leading them to follow similar shopping habits as in previous years. With this in mind, retailers and brands must continue to be strategic in how they leverage promotions during the holiday season in order to deliver greater value to shoppers. Leveraging retailers’ media networks and in-store media capabilities -- both digital and traditional -- is important to maintain shopper loyalty and profitably drive sales.”
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