Study Finds Acquaintances and Coworkers Getting Dropped From Gift Lists
Consumers are making a list and checking it twice. Those getting dropped from the list this year because of the economy are acquaintances and coworkers. A new survey from PriceGrabber.com, a part of Experian, reveals that 57% of consumers said they are removing acquaintances from their lists this year and 53% said they are removing coworkers. If you are looking to save money it makes sense to buy gifts for family members and close friends only. Here are some of the highlights from the Holiday Forecast Consumer Behavior Report.
70 percent of consumers doing more research and comparison shopping online, compared with 38 percent last year.
Gift lists are being trimmed down. Consumers are crossing acquaintances (57 percent) and coworkers (53 percent) off their gift lists.
53 percent of consumers plan to spend less. Of the consumers who are planning to spend less this year, 48 percent reveal that one of the reasons that they are spending less is due to an increase in prices (necessities, gas, etc.), 45 percent cite lack of confidence in the economy, and 38 percent indicate making less money as a reason for spending less.
Some consumers are getting an early jump on shopping. 22 percent plan to start their holiday shopping in October and 29 percent are starting in November. That leaves 51 percent that won't start shopping until December.
When it comes to holiday spending this year, 36 percent of consumers expect to spend between $100 and $499, 28 percent plan to spend $500 to $999, and 30 percent anticipate a holiday spend of $1,000 or more.
Consumers are using more money-saving techniques – 50 percent plan to shop at discount or outlet stores. This is an increase from last year when only 43 percent did so.
Twenty-nine percent of consumers are planning to purchase gifts for fewer people this year, while only 10 percent did so last year.
