Following a blowout Black Friday/Cyber Monday shopping weekend, many consumers will continue to hit the stores through the final days leading up to Christmas, according to survey data from PriceGrabber, a part of Experian. Results from PriceGrabber’s fourth winter holiday shopping survey reveal that 41 percent of consumers plan to shop between Dec. 21 and Dec. 24 for holiday gifts.
This data comes on the heels of a successful Thanksgiving weekend for retailers, during which PriceGrabber experienced a 15 percent increase in site traffic compared to 2010. Conducted from Nov. 17 to Nov. 30, 2011, the survey includes responses from 13,472 U.S. online shopping consumers.
Many last-minute shoppers hunt for bargains
When those consumers who plan to shop at the last minute were asked to select all of the reasons why, 43 percent said that they believe the best discounts can be found during this time period.
Another 43 percent of consumers indicated that they are busy and unable to finish their shopping earlier, 26 percent admitted to procrastinating, 22 percent believe it is fun to do last-minute shopping, and 10 percent are waiting for a year-end work bonus to begin shopping.
“After observing the increase in activity and sales of the Black Friday and Cyber Monday shopping season this year, we expect to see a significant percentage of consumers seeking to prompt retailers to offer additional savings throughout December,” commented Graham Jones, general manager of PriceGrabber.
“Savvy shoppers saw retailers rolling out discounts as early as the week before Thanksgiving this year, and they are staying on top of last-minute incentives that are certainly on the horizon in the coming weeks.”
Consumers will buy a combination of high- and low-price-point items
When asked what type of gifts they plan to purchase at the last minute, 53 percent said they intend to purchase both big- and small-ticket items, 31 percent will buy only small-ticket items (under $100); 10 percent will purchase all of the holidays gifts on their list, and 6 percent will buy only big-ticket items (over$100).
More men will delay holiday shopping until January
While most consumers plan to complete their holiday shopping before Dec. 25, PriceGrabber’s survey found that 9 percent will wait until January to purchase holiday gifts. Men and women differed in their plans, with 11 percent of men saying they will wait until January to buy gifts and only 8 percent of women planning to do so.
When those consumers who will delay their holiday shopping until January were asked to select all of the reasons why, 68 percent said that they believe sale prices are best in January, 27 percent plan to use gift money received during the holiday period, 24 percent simply prefer shopping in January, and 11 percent plan to wait for a year-end work bonus to make purchases.
Daily deal sites begin to make mark on last-minute shoppers
According to PriceGrabber’s survey, a notable percentage of shoppers are turning to daily deal sites for great last-minute prices, with 27 percent indicating that they plan to shop for last-minute gifts on sites such as Groupon and LivingSocial.
Those consumers who plan to use daily deal sites will do so largely in hopes of finding a bargain. Fifty-eight percent of respondents indicated they are trying to save money on gifts and like the discounts available through daily deal sites; 22 percent enjoy the great holiday deals on local services in their area;
13 percent said they liked being able to share great deals with family and friends, especially during the holiday season; 4 percent prefer to give experiential gifts and believe local deal sites offer the best options; and 3 percent are intrigued by the hype around local deal sites.