Deal Seekers To Spend 23% More In Q4: SurveyLos Angeles — Nearly a quarter of consumers plan to spend more this holiday season in anticipation of better deals and discounts, a new survey shows. 10/22/2013 10:24:00 AM Eastern
Los Angeles — Nearly a quarter of consumers plan to spend more this holiday season in anticipation of better deals and discounts, a new survey shows.
According to a poll by PriceGrabber, the comparison shopping site, 66 percent of respondents believe retailers will offer better prices due to the state of the economy, and the number of shoppers who plan to take advantage of those deals by spending more is up 11 percent over last year.
Among the big spenders, 22 percent said they are confident in the economy and 35 percent said they are earning more this year.
In contrast, 52 percent of respondents plan to spend about the same on holiday purchases as they did last year, and 25 percent will spend less. Among the latter group, 45 percent cited higher prices on basic necessities, 42 percent said they are earning less this year, 28 percent said it is acceptable to spend less due to the economy, and 11 percent are unemployed.
What’s more, 21 percent of respondents said they began saving for the holiday season before June.
“Our survey found that the current state of the economy continues to lurk in the minds of consumers, and shoppers expect deeper discounts this holiday season,” said Rojeh Avanesian, PriceGrabber’s marketing and sales senior VP. “Retailers will need to adapt and be sensitive to consumer sentiment to maintain customer loyalty.”
The survey also shows that most consumers plan to begin their holiday shopping in October and November, and that the early Hanukkah, which this year begins before Thanksgiving, will cause nearly a third of Hanukkah shoppers to delay gift giving in order to take advantage of Black Friday and Cyber Monday sales.
The survey, conducted by PriceGrabber Sept. 13-25, reflects the responses of 2,887 U.S. online shoppers.