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New Study Says Consumers Are Willing To Spend Big This Holiday Season

The current economic downturn and financial uncertainty due to inflation have taken a toll on many people’s lives.

Living costs have increased, and it’s really made so many people think twice about their spending habits. But if you believe that would be altering the way they’re going to be spending this holiday season, well, think again.

A new study is shedding light on the prospect of holiday spending. And by that, we mean consumers are ready to spend more or just as much as the previous year. We’re talking an average of $1050. This includes nearly $780 for females and $1300 for males.

The news comes to us thanks to the Holiday Report, a study initiated by Samba TV and HarrisX.

A lot of these trends have to do with the simple fact that we’re back with in-store shopping and around 30% of people surveyed claim they’re ready to go out and about to shop. This is in comparison to many others who say they’d rather take advantage of convenience and shop online.

In-store shoppers are more willing to spend more money than those resorting to online sales. And no matter what shopping avenue is chosen, it’s the millennials who might be spending nearly $100 more than the rest in 2022.

These people say that they’re keener on spending more money on themselves, contrary to the thought of giving out to others. After all, we all do deserve a treat at the year’s end, don’t you think?

Other studies have proven how people are more willing to wait for the Black Friday sales before they begin random purchases for the holiday time. But this study has proven otherwise.

In September, for instance, one in four parents started to buy favorites for the holiday season. When studied in detail, parents hope to spend on their own kids the most, allocating nearly $350. Next in line in terms of priority comes their partner and then themselves.

As expected, extended relatives and parents are next in line, followed by pals and colleagues.

The holiday study noticed some interesting findings in popular subject categories regarding product categories. Clothing topped the list and was the preference for the majority, while gift cards and toys came next in line in terms of popularity.

Jewelry, home electronics, and fancy gadgets were next, closely followed by home appliances, makeup, and travel.

So as you can see, this study involving 2500 Americans has some very interesting and clear-cut trends for the upcoming festive holidays.
New Study Says Consumers Are Willing To Spend Big This Holiday Season
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