‘Tis the season to spend, at least according to recent studies forecasting consumer plans for holiday shopping. 75% of consumers are confident in the economy and 1 in 3 will have started their holiday shopping by the end of October. However, 6% don’t start their shopping until the week before Christmas, leaving marketers with some time to develop and implement new strategies based on consumers’ predicted shopping behaviors and larger-than-average budgets.
Here is a breakdown of what the expected consumer shopping and spending experience will look like this holiday season:
Each consumer will spend the following, on average, per channel:
Black Friday vs. Cyber Monday
60% of consumers feel overwhelmed by Black Friday, yet 1 in 5 will start shopping on that holiday.
In contrast, just 27% of consumers feel overwhelmed by Cyber Monday.
Gifting Habits? Oh, So Lavish
Shoppers are expected to spend more than $800 of their holiday budget on gifts.
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