Most Consumers Expect Bargains This Holiday24 Oct, 2012 By: Doug McPherson
LOS ANGELES – A new PriceGrabber survey on 2012 holiday shopping reveals shoppers appear confident about finding bargains this season. Nearly 70 percent of consumers said they believe retailers will offer better prices and discounts this year.
When asked what sales tactics will prompt them to buy this holiday season, 77 percent said free shipping, 74 percent noted price cuts, 55 percent said coupons, and 44 percent indicated blowout sales.
“Our survey data found that shoppers are not only expecting to find great prices and bargains this holiday season, but 59 percent of consumers plan to start shopping even earlier this year to spread out the impact of purchases, compared to 53 percent in 2011,” says Rojeh Avanesian, vice president of marketing and analytics of PriceGrabber. “Our data indicates that 17 percent of consumers planned to start their holiday shopping in September and 31 percent plan to begin in October this year.”
More than half of consumers said they’d spend at least the same amount of money this season they spent in 2011. That’s up slightly from 48 percent in 2011, and 12 percent plan to spend more compared with 7 percent last year.
Of the consumers who said they’ll spend more, 42 percent said they’re making more money this year, 34 percent attributed their decision to better prices on gifts, 22 percent said they have confidence in the economy, 13 percent said they will spend more due to increased credit limit, and 8 percent are tired of being frugal.
To stay in their budgets, more shoppers will use the Internet to conduct research on products and pricing before buying products. Nearly 90 percent said they’d research their holiday gift purchases in advance to find the best deals. Of those respondents, 38 percent plan to spend three to six hours researching holiday gift purchases, 29 percent plan to spend up to two hours, 19 percent said they plan to spend over 10 hours and 14 percent indicated between seven and 10 hours.