The insight: The majority of shoppers—80%—plan to reduce their holiday spending this year, per a survey by Celigo, as inflation and economic pressures continue to weigh on consumers’ budgets and confidence.
Zoom in: Cost continues to be the overriding factor in most shoppers’ purchasing decisions. Over three in four (77%) of consumers say they will prioritize value and look for cost-effective options for their holiday purchases.
The big takeaway: As has been the case for the entire year, retailers will have to lean into value this holiday season to attract price-conscious shoppers.
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