U.S. holiday season per capita spending expected to grow 14%, spending over $1,000

It is learned that according to foreign media reports a few days ago, according to the latest consumer survey of RetailMeNot, American holiday shoppers will consume early in 2024, and both spending and frequency are expected to increase.

The survey shows that consumers plan to spend an average of $1,069 on holiday shopping in 2024, 14% higher than the level in 2023. Consumers' holiday shopping patterns this year are reflected not only in consumption growth, but also in the trend of early shopping.

Data shows that 76% of consumers plan to start holiday shopping before Thanksgiving, of which 40% said they have already started. Among consumers who plan to shop in advance, 18% start preparations in August or earlier (up from 15% in 2023), 22% plan to start in September (up from 20% in 2023), and another 20% start shopping in October. About 16% of consumers said they would complete most of their shopping before Thanksgiving, 13% of shoppers chose to act after Thanksgiving, and only 5% of consumers would delay their purchases until December, with only 3% doing last-minute shopping.

The main reason for choosing to shop early is to spread out budgets and purchases, with 60% of consumers saying this is the primary reason for their early shopping. In addition, 57% of consumers buy early to seize early bird promotions, while 42% worry that the goods will be sold out later. Other reasons include reducing stress during the holiday season (38%), ensuring that goods are received in time (35%), leaving time and energy for handling holiday arrangements (30%), and avoiding election uncertainty after Thanksgiving (9%).

When looking for holiday shopping inspiration, social media ads and recommendations from friends and family are the most popular channels. The survey shows that 45% of consumers get shopping inspiration from social media ads, while 41% rely on recommendations from friends or family. Other important sources of inspiration include retailer websites or apps (37%), search engine ads (37%), and in-store promotions (37%).

Notably, nearly half (45%) of consumers said they would trust personalized shopping recommendations from AI more than salespeople. This trend suggests that consumers’ trust in technology is increasing, and AI recommendations could have a significant impact on the shopping experience during the holiday season.

Despite the high enthusiasm for shopping, inflation remains one of consumers' biggest concerns. 50% of consumers said that price increases are the main source of their shopping stress during the holiday season. Other shopping stressors include: not knowing what to buy (41%), difficulty fitting all purchases into a budget (39%), crowded stores (38%), looking for the best deals (31%), and worrying about product out-of-stock (30%). In addition, 30% of consumers are worried that the goods may not arrive in time due to logistics delays.

Author ✎ Rayna/

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