Commentary

Budgeting For The Holidays

According to a new poll conducted by Ipsos Public Affairs on behalf of Offers.com, 60% of U.S. adults set a budget on their holiday gift shopping, while 40% do not. However, they are more evenly divided when it comes to making holiday gift lists, with 53% saying that they do so.

And, relative to the Gender and Financial Divide:

  • 64% of women set a holiday shopping budget, and only 57% of men. And 67% of those with an annual household income under $50,000 set a budget vs. 56% of those with a higher income
  • While women are also more likely to make a holiday gift list than are men (63% vs. 42% respectively), those with a lower annual household income are less likely to do so (48% vs. 56% of those with an annual household income of $50,000 or more).

Spending Plans

54% of adults plan to spend $400 or less on gifts for friends and family this holiday season, including 21% who plan to spend between $1 and $200, 25% between $201 and $400, and 21% between $401 and $600. 8% say that they do not plan to spend any money on gifts this holiday season.

  • Those most likely to to spend over $600 include parents (37% vs. 20% of those without kids), and those aged 35 and over (30% vs. 13% of those aged 34 and under).
  • Those aged 55 and over are more likely to not be planning to spend any money on gifts this holiday season (11% vs. 6% of those under 55).

Shopping Plans

Close to half of all adults are planning to shop on Thanksgiving Day, including 16% who plan to shop primarily online, 13% who plan to shop primarily in stores, and 20% who plan to shop both online and in stores. 52% say that they don’t plan to shop on Thanksgiving Day.

  • Black Friday is the more popular shopping day, with 53% saying that they plan to shop the day after Thanksgiving, on par with last year’s findings. This includes 15% who plan to shop primarily in stores, 20% who plan to shop primarily online, and 18% who plan to do both.
    • More plan to shop on Black Friday than on Cyber Monday, with 47% saying that they plan do get some of their shopping done the Monday following Thanksgiving.

Coupons Online

89% of online shoppers say that they look for coupons, deals or sales before making a purchase when shopping for the Christmas season, including 18% who do so every time they are shopping online, 27% who do so most of the time. An additional 29% do so sometimes.

  • In contrast, online shoppers look online for coupons, deals or sales with less regularity before making purchases for other holidays, such as Valentine’s Day or Mother’s Day.

Online Shoppers Start Early

Among the 94% of U.S. adults who make purchases online, 36% say that they do the majority of their online holiday shopping throughout the year. 12% do the bulk of their shopping from Thanksgiving Day through Cyber Monday, while 37% do most of their online shopping from Thanksgiving Day through Christmas Eve.

  • Those most likely to say that they do not do any of their holiday shopping online include those aged 55 and over, and those with a lower household income
  • Those with a higher household income are more likely to do the majority of their online holiday shopping from Thanksgiving Day through Christmas Eve

Mobile Devices

44% of all respondents say they will use their mobile device when shopping this holiday season, though 56% say do not plan to use their mobile device when holiday shopping. Those who will go mobile:

  • Look for coupons or deals (30%)
  • Compare products at different stores (24%)
  • Check product reviews (22%)

Younger adults are particularly likely to use their mobile devices when shopping in at least one of these ways, with 69% of those aged 18-34 saying that they will do so, compared to 44% of those aged 35-54, and 21% of those aged 55 and over. More respondents with a higher household income plan on using their mobile devices for holiday shopping (47% vs. 39% of those with a lower income).

More details from Ipsos can be found here.

 

 

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