70% of holiday shoppers are looking for more deals and sales versus last year to help save money
Even though it’s still months away, shoppers are already looking forward to and getting ready for the holiday season. Today, LTK – the global influencer marketing platform – released its new Holiday Shopping Predictions Report, a new study of U.S. consumers which uncovers how shoppers are planning to tackle the holidays this year. As concerns about inflation continue, consumers are shifting their holiday shopping plans to save money, while still planning to focus on self-care and their homes.
Shoppers Are Looking To Save
Holiday shopping is almost synonymous with sales and deals. Whether it’s Black Friday or Cyber Monday, shoppers have always sought out ways to save when buying gifts. However, according to the study, shoppers this year are hunting for even more sales than previous years. 70% of holiday shoppers are looking for more deals and sales versus last year to help them save money.
Consumers are also looking to save money by shopping earlier. Almost half (47%) of shoppers plan to start buying their gifts between September and mid-October, and 36% say they plan to shop even earlier this year than last year.
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Shifting Shopping Behavior
The overwhelming majority of consumers (96%) plan to shop online according to the survey. And, over half (53%) say they plan to do the majority of their shopping online. Shoppers are also turning to their phones for holiday shopping as 86% of consumers plan to shop from their phones, and nearly half of millennials plan to do the majority of their shopping on their phones.
Creators & Social Media Helping You Holiday Shop
As more people turn online to shop, creators are four times more influential to consumers than celebrity posts and also ranked above social ads. Shoppers are turning to creators and influencers to inspire them, share recommendations and save them money this holiday season – instead of digging through all the sales and deals themselves.
This is especially true as 72% of consumers say their shopping originates from social media which is even higher for millennials (81%) and Gen Z (83%). Creators are also helping drive in-store traffic during the holidays, with 45% of millennials and 42% of Gen Z shopping in-store based on their recommendations.
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What Shoppers Are Looking For
According to the study, over half of shoppers intend to spend the same or more on holiday 2022. This year, shoppers are eying clothing & accessories (26%) as gifts over other categories, like candy/food/gift baskets (24%), toys (23%) and electronics (21%).
While gifting for friends and family is still important this holiday season, we’re also seeing shoppers focus on self-care and their homes after a stressful year, with 61% of consumers anticipating spending more or the same on shopping for themselves and their homes for holiday 2022.
When it comes to what shoppers are buying for themselves, self-care gifts top the list. Shoppers ranked beauty/personal care items (32%) first, followed by electronics, candy/food and beer, wine and spirits.
Similarly, shoppers are trying to get their homes holiday-ready for friends and family gatherings. According to our survey, the top categories consumers are buying for their homes this holiday season are candles, decor and electronics.
It’s clear that excitement for the holiday season is building, and we’re eager to see everything LTK creators have to share to help shoppers get the right gifts for loved ones, themselves and their homes at the right price.