Inflation Likely to Reduce Travel Plans for 54% of Consumers
Numerator, a data and tech company serving the market research space, has published a 2022 Labor Day Weekend Consumer Survey Report to identify consumer celebration and shopping intent, with additional insights into Labor Day Weekend sales events. Overall, consumers expect little impact from COVID-19 or inflation this Labor Day, but all expected celebration plans are down slightly from past years.
Labor Day Celebration & Shopping Findings Include:
- Expected impacts from inflation and COVID-19 are at their lowest points to-date. 51% of consumers expect inflation to impact their Labor Day plans, down from 62% at the beginning of the summer (Memorial Day Weekend). Fewer than 1 in 5 consumers (18%) expect a COVID impact this year, following a steady decline in concern throughout 2022.
- 94% of consumers expect to make purchases for their celebrations, most of which are food focused. Meat / seafood (58% of consumers), snacks (54%), fruits / vegetables (48%), side dishes (44%), and alcoholic beverages (43%) top the list of planned purchases.
- Among non-food planned purchases, more than a quarter (26%) of consumers plan to buy grilling materials, 8% plan to buy holiday decorations, and 6% plan to buy sporting goods or outdoor games.
- The majority of consumers will be back in-store this Labor Day. 88% of Labor Day Weekend shoppers expect to make their purchases in-person, with Grocery stores (68%), Mass retailers (45%), and Club retailers (33%) the top shopping destinations. Less than 1 in 5 consumers (17%) expect to shop online.
- Grilling and gathering remain the top choices for Labor Day celebrations, even though all plans are down slightly from past years. 61% of celebrants plan to grill or barbeque, while 53% plan to gather with family and friends. Gathering (-8 points), attending/hosting a party (-7 points), and traveling (-7 points) saw the biggest drops from past years’ plans.
- Celebration plans vary by generation. Gen Z consumers are most likely to go out for food / drinks (37%), travel (26%), or attend / host a party (26%) compared to other generations, while Boomers+ are the most likely generation to gather with family and friends (58%) and Gen X are the most likely to grill out (63%).
- Inflation is expected to impact Labor Day travel plans for more than half of consumers. Nearly one-third of shoppers (32%) say rising gas prices will force them to travel less, and another 22% will not travel at all this year as a result.
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Labor Day Sale Events Findings Include:
- Nearly 9 in 10 consumers may shop Labor Day weekend sale events. More than one-third (34%) of consumers say they plan to shop deals over the long weekend, and another 52% say they might participate.
- One-quarter of consumers plan to look for Labor Day deals on clothing and household essentials. While the majority (51%) of consumers planning to shop Labor Day deals expect to buy grocery items, 25% say they will buy apparel/shoes and 24% will buy household essentials.
- Deal event shoppers are prepared to change their shopping behaviors in light of inflation. Consumers will approach rising costs in several ways, including comparing prices (45%), stocking up on sale items (31%), not purchasing non-necessities (29%), and waiting to purchase a specific product at a lower price (18%).
