Supply Chain Worries Remain, But Consumers Slow to Holiday Shop
30% of consumers have done none or very little gift buying
A new Oracle Retail survey shows that consumers have barely made a dent in their holiday shopping. While a September survey1 showed that 52% of Americans had already started holiday shopping or plan to shop earlier than usual, when asked again last week, 66% said they are less than halfway done with their holiday shopping. This could mean big shopping surges for retailers heading into Thanksgiving and Black Friday.
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Consumers are also concerned about supply chain and climate issues when it comes to Christmas trees. Twenty-two percent are worried trees will be harder to find and more expensive, with that number jumping to 27% in the San Francisco Bay Area, which was hit hard this year by drought and fires.
“The latest numbers continue to highlight the unpredictability of consumers during these interesting times,” said Mike Webster, senior vice president and general manager of Oracle Retail. “Despite supply chain concerns, many people have a long way to go in their holiday shopping. Retailers need to be prepared for the surge over the next month and carefully manage inventory and expectations with great transparency and communications to keep customers happy and coming back.”
The survey of 2,085 Americans in New York, Chicago, Dallas, and San Francisco was run by Untold Insights November 11-16, 2021. Respondents were asked to reflect on their travel plans for Thanksgiving.
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Consumers have not made a dent in holiday shopping
When asked how much of their holiday shopping is complete:
- 30% said none to very little
- 35% have a quarter or less of their shopping done
- 13% are half done
- 9% are three-quarters done
- 5% are done
- 7% don’t plan to shop this year
Supply chain causing a mixed shopping experience
When asked how their experiences have been shopping online and in-store so far this season:
- 18% said supply chain issues are causing higher prices
- 16% said supply chain issues are causing items to be out of stock and hard to find
- 15% said the aisles don’t seem as full as normal this time a year
- 12% noted stores are understaffed
- 9% said they have already had deliveries that are delayed
Access to deals still a draw
When asked what they would do to get early or enhanced access to holiday deals:
- 17% said they would pay a one-time fee for early access
- 35% would purchase an annual membership (like Amazon Prime) (46% for Millennials)
- 19% would line up early for Black Friday or other store holidays (37% for Gen Z)
- 39% shop in-person for in-store only deals (42% for GenZ)
Learn more about how Oracle is helping fashion, grocery, and specialty retailers anticipate market changes, simplify operations, and inspire authentic brand interactions at www.oracle.com/retail.
