StrategyOne's Holiday Shopping Index Remains Flat at 83.8, Indicating That Most Consumer Holiday Spending Is Still Up for Grabs
Wave two of the Index remains the same as week one
NEW YORK, Dec. 3, 2010 /PRNewswire-USNewswire/ -- As the holiday shopping season begins to heat up in the aftermath of Thanksgiving, "Black Friday," and Cyber Monday, the second wave of StrategyOne's Holiday Shopping Index reflects that there are still broad opportunities for brick-and-mortar and online retailers and marketers among gift-buying consumers.
Strategic research firm StrategyOne, a Daniel J. Edelman company, launched its Holiday Shopping Index last week to better quantify consumer attitudes and perceptions surrounding this year's holiday shopping habits and how consumers' specific shopping plans will evolve over the course of the season.
In the second wave of the survey, the Index remains at 83.8 indicating that the majority of consumer holiday spending is still up for grabs. The Index is derived from the percentage of consumers polled each week who indicate they still have more gifts to purchase as well as the level of certainty these consumers have about their intended gift purchases.
StrategyOne Holiday Shopping Index
The StrategyOne survey also found that 87% of consumers have more gifts yet to purchase, and 77% are undecided about exactly what gifts to buy this year.
"There is clearly going to be fierce competition for consumer spending dollars this holiday shopping season between retailers," said Bradley Honan, senior vice president of StrategyOne. "If you add to that a high level of uncertainty about what people will purchase, then it's clear a real dogfight exists for each consumer dollar."
Worries about the state of the US economy have led consumers to place a high priority on value as the holiday shopping season gets under way. Eighty-eight percent said that finding great deals on gifts was important this year. Forty percent said they hadn't done more holiday shopping yet because they were waiting for lower prices. The focus on value has also led consumers to emphasize some of the non-commercial aspects of the season. Ninety-percent agreed that the holiday season has become too much about money and that it should be more about spending quality time with family and friends.
"Perceived value is going to be a major consideration for consumers worried about the economic recovery," concluded Honan.
About the StrategyOne Holiday Shopping Index:
The Annual StrategyOne Holiday Shopping Index is a weekly public opinion survey of US consumers between the middle of November and the end of December 2010.
The index is built using two criteria: first, the percentage of consumers polled each week who indicate they still have more gifts to purchase, and second, the level of certainty these consumers have about their intended gift purchases.
By factoring together both of these components, the Holiday Shopping Index provides a good aggregate indicator of how open consumers are to gift ideas and suggestions, as well as other marketing interventions, as the season progresses.
Methodology of the StrategyOne Holiday Shopping Index:
The annual StrategyOne Holiday Shopping Index is calculated based on data obtained from a weekly survey of about 1,000 US consumers. The survey includes questions related to consumers' expectations and attitudes surrounding holiday shopping. Once the survey is completed, StrategyOne tabulates the percentage of respondents who indicated that they:
- Still have "some more" or "a lot more" gifts and presents to purchase;
- Have spent 50% or less of their total holiday gift budget;
- Still plan to spend more than $100 on gifts or presents;
- Are "up in the air" or "mostly open to suggestions" about some or all of their anticipated gift purchases;
- Have not done more holiday shopping because they are not sure what to buy, are waiting for better deals, or generally shop later in the season; and
- Would be "happy" to see more holiday shopping discounts because they still have presents to buy.
The percentage of those who responded affirmatively to these inquiries are added up and divided by the total number of applicable questions. The resulting number is then used as an "index value" and compared against the prior week's level.
For more information about the annual StrategyOne Holiday Shopping Index, please visit the StrategyOne website; www.strategyone.net/HolidayIndex.html.
# of Consumers Polled
Margin of Sampling Error
1,035 US Consumers
= +/- 3.14%
1,072 US Consumers
= +/- 3.14%
Statistical weights were designed from the United States Census Bureau. The survey data was collected online.
StrategyOne, a Daniel J. Edelman company, employs custom public opinion research and secondary research methodologies to deliver strategic counsel to corporate, organizational and governmental clients globally. With offices in Atlanta, Chicago, London, New York, Paris, San Mateo, Washington, D.C., and Abu Dhabi, StrategyOne provides global clients with evidence based stakeholder insights, analysis and measurement. Visit www.strategyone.net for more information.
Edelman is the world's largest independent public relations firm, with wholly-owned offices in 53 cities and 3,600 employees worldwide. Edelman was named Advertising Age's top-ranked PR firm of the decade and one of its 2010 Best Places to Work; Adweek's "2009 Agency of the Year"; PRWeek's "2009 Agency of the Year" and "UK Consultancy of the Year"; and Holmes Report's "Agency of the Decade," "2009 Best Large Agency to Work For" and "2009 Asia Pacific Consultancy of the Year." Edelman owns specialty firms Blue (advertising), StrategyOne (research), RUTH (integrated marketing), DJE Science (medical and science communications), and MATTER (sports, sponsorship, and entertainment). Visit www.edelman.com for more information.