Study: Consumers Expect Bargains Online
Dec 16, 2005, 6:00 AM
This holiday season, 83 percent of consumers plan to spend the same amount or less on gifts as they did last year, according to Compete survey results to be released today. What's more, consumers are using the Internet to find the best holiday deals, with slightly more than half--53 percent--of consumers agreeing they will find the best deal on gifts online. Consumers this year report that they plan to save money on holiday shopping by looking for bargains, buying fewer gifts, and making less expensive purchases. These consumers told Compete they will use multiple channels to control the holiday marketing promotions they receive through a combination of in-store coupons, store sales, search engines, and online deals. With consumers seeking to buy less expensive gifts this holiday season, it could be a very merry season for discount stores. One out of every two consumers surveyed reported that they plan to do 50 percent or more of their holiday shopping in a discount store--such as Wal-Mart, Target, or Kmart--up from the 30 percent they estimated they did in a discount store last year.