Marshal Cohen, chief retail advisor for Circana<\/a>. \u201cHoliday shoppers will be making more thoughtful and deliberate choices based on their budget and the value they get from the purchase, leaving less room for the impulse spending that is critical to holiday season growth.\u201d<\/p>\nThe top types of planned physical gifts look similar each year, and the number of holiday shoppers planning to buy those items changed very little from last year. Leading the pack this year are clothing and accessories (56%), technology and electronics (38%), beauty (33%), entertainment (30%), home (29%), and toys (28%).<\/p>\n
While more consumers plan to purchase technology and electronics than last year, they are moderating their spend on those products to an average of $851. Select home products and entertainment may see a boost in spending based on early consumer intentions, with an average planned spend of $378 and $218 respectively. Beauty is the one area where consumers plan on both buying more and spending more, with an average planned spend of $247.<\/p>\n
Holiday shoppers will also consider adjusting how they spend on different gift recipients. More than half (54%) of consumers plan on buying for kids this holiday season, and of those, only 31% plan on spending less on those kids. Among the half of consumers planning to buy gifts for their spouse or partner this year, 40% plan to spend less on them. And, while only 11% of holiday shoppers will be buying for pets this year, only 37% of them plan on scaling back their splurge on them.<\/p>\n
\u201cConsumers may have entered this holiday shopping season with a more cautious spending mindset, but the spirit of the season is still a factor in their spending choices. Don\u2019t underestimate the resilience of the consumer,\u201d added Cohen. \u201cPurchase prioritization, particularly at the holidays, is the result of weighing need and practicality with emotion and perceived value. It is in the gray area where that blend of considerations comes together that retailers and manufacturers can find their opportunity to capture the consumer\u2019s attention if they can convey a benefit that surpasses price.\u201d<\/p>\n
###<\/p>\n
About Circana<\/b>
Circana is a leader in providing technology, AI, and data to fast-moving consumer packaged goods companies, durables manufacturers, and retailers seeking to optimize their businesses. Circana\u2019s predictive analytics and technology empower clients to measure their market share, understand the underlying consumer behavior driving it, and accelerate their growth. Circana\u2019s Liquid Data\u00ae technology platform is powered by an expansive, high-quality data set, and intelligent algorithms trained on six decades of domain expertise. With Circana, clients can take immediate action to future-proof and evolve their growth strategies amid an increasingly complex, fast-paced, and ever-changing economy.<\/p>\n
CONTACT: Janine Marshall Circana 516-625-2356 janine.marshall@circana.com<\/p>\n","protected":false},"excerpt":{"rendered":"The usual items top this year\u2019s holiday shopping lists, but consumers are planning on buying less and looking…\n","protected":false},"author":3,"featured_media":406629,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,2436,79,191787,46736,67,132,68],"class_list":{"0":"post-406628","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-consumer","10":"tag-economy","11":"tag-holiday-shoppers","12":"tag-holiday-shopping","13":"tag-united-states","14":"tag-unitedstates","15":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115617603498944438","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/406628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=406628"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/406628\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/406629"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=406628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=406628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=406628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}