The 2020 Holiday shopping season is shaping up to be one for the records.
In an effort to better understand how shoppers are preparing for the holidays this season and reacting to the impact of the Coronavirus, SheSpeaks asked women in our community age 18+ across the US to share their thoughts and experiences related to sentiment, attitude and purchase behavior.
- Surprisingly, shoppers feel good about their personal/family finances vs. 2019: 50% of shoppers feel comfortable/very comfortable about their personal/family finances representing a slightly better result vs. 2019. Just 10% say that they are “very concerned” representing a 17% drop from 2019. Importantly, 67% of shoppers report that their personal finances are the #1 determinant of how much they plan to spend this holiday season.
- Shoppers are concerned about the overall economy: While shoppers are feeling more comfortable with their personal finances, they are not positive about the US economy. 52% of shoppers say that the US economy is declining representing a 58% increase vs. last year’s results.
- Holiday Shopping will start earlier this year and shoppers are influenced to purchase by social: More shoppers (48%) say that they will holiday shop prior to Thanksgiving vs. 2019. Consumers plan to shop more online this year vs. last year with shoppers indicating increased online spend on Amazon, Walmart.com and Target.com.
Download the full report for insights into how families will celebrate the holidays this year, and how COVID-19 is affecting their plans. We have some ideas to make this season a good one.