Consumers are turning away from gift cards in favor of physical
gifts as Cyber Weekend approaches, according to a study by Jungle Scout.
Of the shoppers polled, 49% plan to purchase gift cards -- down from 65% in 2021. In contrast,
59% will give products such as clothing, electronics and jewelry.
In addition, 29% will give a virtual product like a Netflix or Spotify subscription, a virtual gym
membership or a Masterclass membership.
But fewer gift-givers are bestowing physical product delivery/subscription-box services such as Blue Apron, book-of-the-month club, or beauty box
— 23% versus 27% in 2021.
As for their buying strategies, 56% said they search for deals and discounts. But 40% also seek surprise gifts that recipients didn’t ask for or
expect to receive.
In addition, 28% week out specific brands, and 19% will buy gifts based on ideas they see in social media.
Meanwhile, 57% of consumers will shop on Black Friday and 43% on Cyber Monday. In addition, 20% will buy on Small Business Saturday. And 18% do not plan to shop during these retail
events.
Jungle Scout surveyed 1,008 consumers on October 14, 2022.