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Consumers Plan to Reel In Their Holiday Spending

October 2008
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The nation’s economic struggles will take its toll on retailers this coming holiday season, a recent survey showed. According to the Consumer Intentions & Actions survey from the market research firm BIGresearch, 39 percent of consumers intend to spend less this holiday season than they did last year, an 8 percent increase from last year. The recent survey polled more than 7,500 consumers. Here are some more findings of the survey.

* 4.7 percent said they plan to spend more on gifts this year compared to last, down from 6.9 percent who said the same last year;

* 31.4 percent said they plan to spend the same as last year vs. 37.4 percent in 2007;

* 61.5 percent of males said they plan to spend more this year than last, compared to 38.5 percent of females;

* 60.1 percent of females said they plan to spend less this year than last year vs. 39.9 percent of males;

* 91 percent of the respondents said they regularly or occasionally use the Web to research products online;

* electronics is the most popular product category researched online (43.3 percent), followed by apparel (22.9 percent), appliances (22.9 percent), home improvement (19.4 percent) and shoes (19 percent); and

* 25.6 percent of the respondents said Google is their most frequently searched Web site, followed by Amazon (8.9 percent), Yahoo! (5.5 percent) and eBay (2.8 percent).

For more information, go to www.bigresearch.com.
 

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Most Recent Comments:
Jason - Posted on October 08, 2008
I believe that the two points regarding the percentages of men and women who will spend more or less are misstated.

From the Data Source: ?A minor 4.7% indicate they plan to spend more on gifts this year compared to last, lowering from 6.9% who said the same one year ago...while two in five (39.0%) intend on spending less (v. 30.9% last year).?

?Retailers hoping to make the most of a likely less-than-stellar holiday selling season will benefit from knowing who the likely ?Big Spenders? and ?Penny Pinchers? are?this season's spenders are more likely to be male, younger, and maintain higher household incomes than their penny pinching counterparts:?

Thus the graph appears to be breaking down the 4.7% of ?big spenders? into categories of men and women while also breaking down the 39% of ?penny pinchers? into the same two categories. So, slightly less than 3% of all consumers (2.89%) are men who plan to spend more this year and 1.81% are women of a similar attitude.
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Archived Comments:
Jason - Posted on October 08, 2008
I believe that the two points regarding the percentages of men and women who will spend more or less are misstated.

From the Data Source: ?A minor 4.7% indicate they plan to spend more on gifts this year compared to last, lowering from 6.9% who said the same one year ago...while two in five (39.0%) intend on spending less (v. 30.9% last year).?

?Retailers hoping to make the most of a likely less-than-stellar holiday selling season will benefit from knowing who the likely ?Big Spenders? and ?Penny Pinchers? are?this season's spenders are more likely to be male, younger, and maintain higher household incomes than their penny pinching counterparts:?

Thus the graph appears to be breaking down the 4.7% of ?big spenders? into categories of men and women while also breaking down the 39% of ?penny pinchers? into the same two categories. So, slightly less than 3% of all consumers (2.89%) are men who plan to spend more this year and 1.81% are women of a similar attitude.