Survey Indicates More People Are Saving For The Holidays

According to a rewards program site, 34 percent of its users are already saving up for holidays although Black Friday, Christmas and New Year’s are still so far.

The survey was participated by around twenty-six thousand users of Swagbucks. 15% of these surveyed users have already started saving since January. 18% of these surveyed users have started saving since June. While another 21% of these surveyed users will start saving by fall. However, 19% of these surveyed users do not have plans on saving for the holiday season at all.

It may still be 6 months from the holidays but intelligent shoppers are starting to prepare. These shoppers don’t want to overdo the shopping costs and expenses. From the survey, 73% of them plan to just expend the same amounts they did from last year. 40% of those surveyed plan to be on strict budgets while 24% plan to supplement their spending by using cash back sites. 20% plan to as much coupons and 10% plan to have a dedicated savings account for spending.

In terms of budget, 20% of those surveyed want to restrict spending between 100 and 250 dollars, 33% plan on spending 250 to 500 dollars and 26% plan on spending 500 to 1000 dollars.

Presents came as the 1st priority for the saving. Parents are the top responders saving followed by significant others and children. It is not only the holiday presents being saved up for. Other items on the saving lists included food, parties, decorations, holiday travel and holiday themed attires like an Ugly Christmas Sweater Sweater or tie. 46% want a budget for food, 26% for decorations and 26% for holiday travel.

In 2015, holiday sales went up by 3% to 626.1 billion dollars and non-holiday sales went up by 9% to 105 billion dollars. This is according to the National Retail Federation or NRF.

Even though most save and plan, there are still a number of shoppers who shop the last minute. NRF conducted a survey in 2015 resulting with 53.5% of buyers completing their shopping by the 15th in December with 90% of those also having holiday related things they still needed to buy.

Either way, businesses should also prepare their marketing schemes to attract these savings and budget conscious buyers.

Comments are closed.