Shoppers will be shopping with lists and a budget in mind this year, but new research data indicates this holiday shopping season may be better than last year’s.
The Information Resources, Inc. information says consumers are less concerned about other economic factors than they were last year:
- Concern about the price of food – down more than 20%
- Concern about gasoline prices – down 10%
- Concern about utilities prices – down 9%
- Overall concern about the recession – down 5%
While expecting a better shopping season, consumers are still have some concerns: concern over job security only dropped 1%.
Holiday plans include time with family and friends, with nearly two-thirds of those surveyed planning to eat their holiday meals at home. Consumers plan to spend the same or less this year than last on holiday meals; list-making and private labels continue to be important for cost-conscious food shoppers.
As for gift-giving, consumers may not return to pre-recession spending levels, but 77% said they plan to “treat themselves and others even if times are tough.”
IRI Consulting & Innovation President Thom Blishchok said:
“The consumer has shifted dramatically in the past year with how they find and purchase their deals—CPG and retail need to take advantage of this newly savvy shopper by appealing to shopper values and budgets.”
Here’s to a cheerier holiday season!
Source: Information Resources, Inc.
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