PriceGrabber® Survey Finds Consumers Plan to Spend the Same or Less This Holiday Shopping Season Compared With 2010
Fifty-three percent of shoppers plan to start holiday shopping earlier this year
LOS ANGELES, Oct. 3, 2011 /PRNewswire/ -- With fall schedules now back in full swing, shoppers all over the country are gearing up for the holiday shopping season, which begins in just a few weeks. PriceGrabber®, a part of Experian®, just released the results of its first winter holiday shopping survey, revealing that 45 percent of consumers intend to spend less money during the 2011 winter holiday shopping season than they did in 2010. Forty-nine percent of consumers will spend the same amount that they spent last year, and only 7 percent plan to spend more this year. Conducted from Sept. 7–15, 2011, the survey includes responses from 3,070 U.S. online shopping consumers.
Higher cost of living is driving shoppers to find better holiday bargains
The state of the economy continues to have a dramatic impact on consumers' holiday shopping decisions this year, with PriceGrabber's survey finding that 68 percent of shoppers say the economic climate will affect their overall spending. When shoppers who indicated that they plan to spend less in 2011 were asked to cite all of the reasons why, a staggering 70 percent attributed their decision to an increase in prices for food, gas and other necessities. Forty-nine percent said they planned to spend less due to an increased acceptance of purchasing less-expensive gifts, 46 percent cited a lack of confidence in the economy, 43 percent indicated that they are earning less money this year, and 37 percent said that the value of their homes and savings has been reduced.
Of those consumers who indicated that they will spend more this holiday season compared with last year, 27 percent attributed their decision to better prices on gifts, 25 percent said they are making more money this year, 14 percent said they have confidence in the economy, 7 percent are tired of being frugal, and another 5 percent have found employment in the past year. Only 2 percent said they will spend more due to increased credit.
Shoppers are looking forward to price cuts and free shipping this year
Given the still uncertain economic climate, shoppers appear to be confident in their ability to find a holiday bargain. According to PriceGrabber's survey, 70 percent of consumers said they believe retailers will offer better prices and discounts this year due to the current state of the economy. When asked what retailer tactics will entice consumers to buy a product this holiday season, 75 percent of respondents indicated price cuts and free shipping, followed by coupons and blowout shopping sales.
"Our survey data found that shoppers are not only expecting to find great prices and bargains this holiday season, but 53 percent will start shopping earlier this year to spread out the impact of purchases, and 33 percent are beginning their holiday shopping in October," stated Graham Jones, general manager of PriceGrabber. "This finding implies that consumers are strategizing to capitalize on the holiday sales that appear to begin earlier in the season each year, as we just recently saw with the back-to-school shopping season. The economy's resistance to improve significantly will give retailers added incentive to lower their prices, especially as consumers have become savvier since the beginning of the economic downturn."
Consumers will do their research online to save money on purchases
While shoppers are hoping to scale back their holiday budgets this year, a recent PriceGrabber survey indicated many consumers plan to compare prices online before making a trip to the store or committing to an online purchase. Furthermore, many indicated they will use their mobile device as a shopping aid in brick-and-mortar stores. PriceGrabber offers a handy mobile application for iPhone™, Android™ and iPad™ to help shoppers find the best deals while they're out and about.
"By comparison-shopping on a Website such as PriceGrabber or visiting the number of discount designer retailers available online, holiday shoppers can more easily purchase a 'splurge' item that won't break the bank," said Jones.
For savvy holiday shopping on any budget, visit http://www.pricegrabber.com to browse, compare, read merchant reviews, find local deals, online deals, and more. Download the mobile application for smart shopping on the go.
PriceGrabber, a part of Experian, is a leading online shopping site with more than 23 million unique shoppers monthly. At PriceGrabber, savvy shoppers can instantly find and compare millions of unique products and services across 25 categories with more than 11,000 merchants. Compare products side by side to find the right retailers at the best prices within popular categories, such as Digital Cameras, Electronics, Computers, Clothing, Books, TVs and more. PriceGrabber provides shoppers with the right product from the right merchant at the best price anytime, anywhere. Visit us at http://www.pricegrabber.com.
Experian® is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was US$4.2 billion. Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and Sao Paulo, Brazil.
For more information, visit http://www.experianplc.com.
Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.
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