Commentary

Discount Santa: Consumers Want Deals But Fear Inflation

Consumers want discounts this holiday season. But they fear that inflation will get in the way, judging by Holiday Shopping Habits 2022, a study by Bluedot, conducted by SurveyMonkey.  

Of the shoppers polled, 91% are bracing for price hikes. And while 88% seek discounts, 63% do not expect deals to be better than those of past years. Inflation also tops their lists of general concerns:

  • Price increases — 72%
  • Inventory shortages — 55% 
  • Long lines and wait times — 43%
  • Empty shelves — 39% 
  • Staffing shortages — 375 
  • Having less money — 36%

Partially in response to financial pressures 40% of shoppers plan to use buy now, pay later plans this season. That includes 48% of Gen Z and 47% of millennials but only 14% of boomers.  

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And 74% are saving for their holiday purchases, not necessarily by putting money in a bank. Rather they are: 

  • Looking for deals as much as possible — 48% 
  • Shopping earlier — 31% 
  • Eating out less — 29% 
  • Driving less to save on fuel costs — 26% 

Email is not the first channel that comes to mind for discount-hungry shoppers. Here are the places they look for deals: 

  • Regular website — 64%
  • Retailer apps — 53% 
  • Loyalty programs — 40% 
  • Emails — 38% 
  • Coupon websites — 32% 

Despite its low ranking, email will carry a heavy burden for brands during the season. It starts with the fact that 77% are more open to communications from retail stores, whatever form they take. They seek:

  • Coupons — 52% 
  • Deals and offers — 41% 
  • Saving money — 39% 
  • Tracking delivery of purchases — 29% 
  • Wanting to learn more about loyalty programs — 25%

Shopping patterns have changed. For instance, 78% like BOPIS (buy online pick up in store), and 39% expect to use it for 50% or more of their holiday shopping. But they are troubled by excessive wait times that come with curbside pickup (44%) and BOPIS (43%).

Mobile apps are also a big part of holiday shopping — 75% use them for this purpose. They find them: 

  • Fast and easy — 55% 
  • Looking for discounts — 38%
  • Can’t find items in store — 38% 
  • Shopping for better prices — 36%
  • Checking for in-store or online inventory — 27% 

Loyalty programs are also important — 51% of consumers are more likely to join them during the holidays versus other times of the year. And 40% are more likely to open a retailer’s credit card during this time of year. 

Meanwhile, 78% of consumers plan to use holiday deals to buy things for themselves. 

SurveyMonkey surveyed 1,002 U.S. consumers from August 31—September 1, 2022. 

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