Study Shows Consumers Are Worrying More And Shopping Less This Festive Season

According to a new survey, consumers are worrying more and shopping less this festive season. More than ever, shoppers think it's not worth spending on items that aren't going to help them save money or give them any joy.

Aflac, the financial protection and health Services Company, has released results from its 2022 Aflac Holiday Health Issues research. The study surveyed how 80% of US Adult consumers will spend this festive period by planning to limit the number of gifts they give this year in light of the growing market volatility.

It’s that time of year when the hustle and bustle of the festive season hit peak levels. For some businesses, the time to get your content and promotions in front of your target audience is now. Theoretically, there might be a chance to have business-to-business emails managed to open: For 70 percent of workers, the holiday season is less about being with family and more about finishing a project or getting back on track after a tough break.

The days of easy holiday sales may indeed be gone. In fact, a recent survey revealed that 67% of consumers intend to reduce their Festive spending. The most popular savings activities include organizing events (50%), going to parties (43%), offering gifts (35%), and sending cards (30%).

This season does not come with happiness for many individuals: 50% become worried, while above 40% feel unfortunate. Women and Younger Generations are more likely to suffer anxiety now. According to potential causes, 44% of individuals do not think their salary has managed to keep up with a rise in regular expenditures.

According to the latest employee survey, roughly seventy percent felt that they were spending their money well on their needs in 2022. That includes basic needs like the rent of a house, health issues, and transportation. However, sick off is something that 60% of people would rather "push over" than do. This comprises 70% of workers at the office, 62% of virtual employees, and 65% of blended employees

In addition, 30 percent have taken fewer days off this year compared to 20 percent who took more. Half of the parents surveyed said they took less time off this year than expected. A third expect to take more time off than they did last year, while only 21 percent expect to take as much time off this year as last year. The reason employees took time off from work this year was due to doctor’s visits and health appointments, mental health days, and some holidays with family.

This holiday season will be particularly challenging for some residents of lower-income households, as they are striving to afford the basics and health care costs. In fact, many consumers may have no choice but to pay for their own doctor visits this month, according to a study released by Aflac Benefits Solutions.

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