Holiday Retail Forecast: 59% of shoppers say deals are too good to pass up | Jobi Cool


It’s shaping up to be a big season for savers despite high inflation still looming over holiday budgets.

In a reversal of last year’s freight pressure, retailers have larger inventories and have pushed sales earlier.

An estimated 166.3 million people plan to shop from Thanksgiving to Cyber ​​Monday this year, according to an annual survey by the National Retail Federation and Prosper Insights & Analytics.

This is almost 8 million more than last year and is the highest estimate since the trade association started monitoring this data in 2017.

Discounts are a driving force. According to the survey, the main reason consumers plan to shop is that the offers are too good to pass up. This was the answer of 59% of the 7,719 adult consumers surveyed.

Connected: A stumbling block during the shopping weekend: Rising credit card rates

Inflation has been top of mind all year and there was speculation that it would affect sales this holiday.

A national survey distributed by Bankrate, a consumer financial services company, found that 95% of holiday shoppers who said inflation will change the way they shop are actively looking for ways to save money.

Consumers told Bankrate they plan to buy fewer products and look for more coupons, discounts and sales.

“A big theme I’m seeing is that people are still spending, but they’re being particularly thoughtful about where each dollar goes,” said Ted Rossman, senior analyst at Bankrate.

Amazon, Target and Walmart announced special deals for Black Friday to meet this demand for discounts and move excess inventory.

Consumer insights data firm Numerator asked shoppers if they were keen on sales in response to high inflation.

Target buyers were most likely to look for deals. Of those, 35% said they were stocking up on items that were on sale, and Amazon shoppers had the highest response rate of shoppers buying something they’ve been waiting for to go on sale.

Looking at online sales, Adobe Analytics estimated that $72.2 billion was spent online in October, similar to October 2021.

In major categories such as electronics and toys, the discount reached the highest 17% and 15%, respectively.

This year’s top toys include classics like Barbie, LEGO and Hot Wheels as well as new, trendy toys like LOL Dolls and Squishmallows, according to the National Retail Federation.

More on MLive:

Meijer announces Black Friday deals

Early access Walmart Black Friday deals for days

Samsung’s Black Friday deals: Save hundreds on TVs, tech products

Wayfair Black Friday, Cyber ​​Monday Deals, Save Up to 80%

Nike’s Black Friday sale: save on hoodies, running shoes and more



Source link