The Majority of Consumers Plan to Shop Early This Year: Report

Dive Brief: 

  • Consumers are eager to spend and save money through deals, according to ICSC. In its Annual Holiday Shopping Intentions survey, the firm predicts that holiday sales between November and December will increase by 8.9% to $923 billion compared to last year. Per the survey of 1,005 people, 78% of respondents said they plan to spend the same or more money this year than last year, and 75% said they plan to shop earlier this year. 
  • As for reasons why they’re shopping earlier, 45% said they want to make sure their desired items are available, followed by those who wanted to access early holiday deals (42%) and get their purchases on time (42%), according to the survey. Holiday shoppers are planning to spend an average of $637 on gifts and other holiday-related items.  
  • Most respondents (85%) said they would shop in brick-and-mortar stores this year, but the report predicts that omnichannel options will drive a 13% increase in e-commerce sales. More than a third (37%) respondents said they want to see products in-store, followed by 34% of people who said they want to grab their goods immediately and 30% seek inspiration for gifts, per the survey. 

Dive Insights:

Though reports predict that consumers plan to spend more during the 2021 holiday season than last year, they’re still interested in finding deals. According to the ICSC survey, 80% of shoppers said deals factor into their holiday purchases, and more than a third (38%) of respondents will plan their shopping trips around specific promotional events. 

Other research noted similar findings indicating that shoppers want to stretch their money while spending more this year. Another recent survey from JLL showed that 34.4% of shoppers said saving is their primary goal. Plus, data from Klarna and Deloitte also predict an uptick in consumer spending this year. 

In preparation for a rise in sales, retailers like Amazon and Target have launched holiday deals early. 

“Strong retail spending has driven a significant economic recovery this year despite the ongoing COVID-19 pandemic, and consumers continue to return to pre-pandemic behaviors in the face of uncertainty,” Tom McGee, president and CEO of ICSC, said in a statement. “Consumers have remained resilient throughout 2021, which I am confident will continue during and after the holiday shopping season.”

This article was written by Tatiana Walk-Morris from Retail Dive and was legally licensed through the Industry Dive publisher network. Please direct all licensing questions to legal@industrydive.com

Share on facebook
Share on pinterest
Share on twitter

ABOUT THE AUTHOR

Shopkick

Shopkick is the fun and easy way to earn free gift cards for the shopping you already do. Download the app now!

Connect with our team

Shopkick Partnerships deliver lasting results for your business. Fill out this form to learn more about Partner benefits.

Get the Shopkick Insights newsletter

Research and inspiration delivered to your inbox each month.

Follow us on Facebook

Latest Tweets

Recent Pins

We’d love to hear from you!

Learn how Shopkick can deliver results for your business. Fill out this form and someone from our team will be in touch within one business day.

We’d love to hear from you!

Learn how Shopkick can deliver results for your business. Fill out this form and someone from our team will be in touch within one business day.

Dima Volovik

EVP of Product and Engineering

Dima Volovik is the EVP of Product and Engineering at Trax Retail — Shopkick.

Dima Volovik is the accomplished product and engineering leader who led teams to deliver innovative and commercially successful e-commerce products, marketplaces, and enterprise solutions for Amazon, Comcast, Fandango, and Universal Music. Before joining Trax, Dima was the Director at Amazon, where he led product development and Engineering for Amazon Appstore and Amazon Prime Video, CTO at Fandango, and Paciolan, head of technology at Golf Channel/Golf Now, and Global VP of Direct to Consumer Technology at Universal Music Group. Dima’s expertise includes developing consumer products, marketplaces, and enterprise solutions.

Dima grew up in Baku, Azerbaijan, where he received his MS in Electrical Engineering from Azerbaijan Oil Academy, and he currently resides in Los Angeles, California, with his family.