SheSpeaks Holiday Shopping Index 2023
For the 11th year in a row, SheSpeaks fielded the annual Holiday Shopping Index. Over 1,200 women ages 18-65 from the SheSpeaks community across the U.S. participated in the study.
Overall, women are more optimistic about both their own economic situations as well as that of the overall US economy going into the critical holiday shopping season vs. 2022. However, this is not translating into increased holiday spending. Women reported that their holiday spending would be flat to last year. This is reflected not only in overall spending but also individual category spending like clothing, gift cards, technology, jewelry etc.
Women say the #1 factor (65%) that will determine how much she will spend is her personal/family finances. And those numbers are down 36% year over year.
“You would expect women to say their spending will be up this year vs. last year but it is virtually the same. Additionally, when we delved into specific categories, women said their spend would be flat year over year in EVERY category.”
ALIZA FREUD, CEO SHESPEAKS
What’s on Women’s Minds?
- The Upcoming Presidential Election: 44% of women say that they have already decided who they will vote for in 2024 presidential election. 56% are undecided
- Instability Outside of the US: Beyond their Health (58%) and Time with their Family (49%) women have the rest of the world on their mind. 40% of women say that what they are thinking of most going into the holiday season is a desire for Peace Around the World.
Key Takeaways from the Survey
- Women are more optimistic about the economy as well as their personal/family finances this holiday season vs. 2022
- 42% of women say that they are very/somewhat comfortable about their personal finances, a 25% increase vs. 2022
- 47% of women believe that the US economy is improving/holding steady. A 39% increase over 2022. In fact, there is a 20% drop YOY in the percentage of women who believe that the economy is declining.
- Although women are more optimistic about the economy and their own personal finances, this is not translating into increased holiday spending. Women plan to spend the same this year as they did last year during the holiday season despite their assessment of improvement on their personal finances and the economy.
- Will Spend More this Holiday Season: 11%
- Will Spend The Same: 48%
- Will Spend Less: 41%
- Women are feeling more Grateful this year. The same top 3 emotions this holiday season as they last year however, “Grateful” has replaced “Hopeful” as the #1 emotion.
- #1 Grateful- 47% (Up 15% YOY)
- #2 Hopeful- 39% (flat YOY)
- #3 Overwhelmed- 38% (flat YOY)
- Amazon reigns supreme with Walmart & Local Retailers tying for 2nd. Women are planning to be back in store vs. buying all online – there was a 20% drop in people saying they will purchase all online.
- Amazon is the big winner this year as the #1 retailer with 95% of women reporting that they will shop here for the holiday season.
- Tying for #2 are Walmart and Local Retailers with 84% women reporting that they will shop here for the holiday season.
