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November Consumer Spending and Saving © echo AXP Internal8-Jun-14
2 Research Method This research was completed online among a random sample of consumers aged 18+. A total of 2,021 interviews were completed. In addition to a general population sample, two sub-groups – Affluents, and Young Professionals were targeted and balanced by the general population. o n= 540: Affluents – defined as having a minimum annual household income of $100,000 o n= 529: Young Professionals – defined as less than 30 years of age, having a college degree, and a minimum annual household income of $50,000 Interviewing was conducted by Echo Research between October 18 – October 22, 2011. Overall the results have a margin of error of +/- 2.2 (or 4.3 among Affluents and Young Professionals) percentage points at the 95% level of confidence. © echo
3 Holiday Gift Spending Overall © echo Approximately how much, do you expect to spend on the most expensive holiday gift you purchase this year? Q.10 How much do you expect to spend overall on holiday gifts this year? BASE: Total respondents Overall, among the general population, Holiday gift spending is expected increase 17% from last year ($831 from $710). Average Spend Holiday Gifts Most expensive gift Total $831 in 2011 $710 in 2010 $397 in 2011 $316 in 2010 Affluents $1,470 in 2011 $1,333 in 2010 $586 in 2011 $469 in 2010 Young Professionals $1,027 in 2011 $1,063 in 2010 $493 in 2011 $504 in 2010
4 Shopping the Weekend after Thanksgiving © echo Although 58% of consumers say they have not yet started their holiday spending 2, Pre holiday shopping traffic, Black Friday and Cyber Monday, the weekend after Thanksgiving, is expected to increase this holiday season (52% vs. 38% in 2010). TOTALAFFLUENTS YOUNG PROFESSIONALS 201120102011201020112010 Pre-Holiday Shopping152%38%56%39%80%72% 1 Will you be shopping on any of the following days? BASE: Among those shopping for the holidays this year Net of Black Friday and Cyber Monday 2 When did you begin your holiday shopping? Not applicable: 4% total, 2% Affluents Significantly HIGHER/ LOWER in 2011 versus 2010
5 Holiday Shopping on Black Friday © echo Where will you be shopping for holiday gifts this "Black Friday"? How much do you plan to spend on holiday shopping this "Black Friday"? What time do you plan to start your holiday shopping this "Black Friday"? BASE: Respondents shopping on "Black Friday" for the holidays this year The majority of Black Friday shoppers say they will divide their holiday shopping gifts between the stores and the web (63%), with more than one third planning to shop in stores exclusively (34%). On average, those who plan to holiday shop on "Black Friday" will spend $504 and 40% will plan to start their shopping between 4 a.m. and 7 a.m. on November 25. $504 $697 $563 Average Spend on Black Friday 2 Where will consumers shop on Black Friday? Not shown above : not sure What time will consumers be starting their shopping on Black Friday?
6 Method of Paying for Holiday Shopping © echo Notably, less are planning to carry balances on their credit cards (29% vs. 33% in 2010), 13% of consumers say they will tap into their rewards points to help pay for holiday gifts (on par with 2010), and fewer consumers dipping into their savings or using their charge or credit card as a loan (13% vs. 18% in 2010). Paying with cash (check or debit) for holiday shopping is the primary method resourced (70%). How do you plan to be resourceful and stretch your holiday shopping dollars this year? BASE: Among those shopping for the holidays this year Note: Cash and Layaway is a new item asked n 2011.only. Significantly HIGHER/ LOWER in 2011 versus 2010
7 Budgeting Holiday Gift Giving © echo Which of the following best describes your holiday gift giving spending plans? BASE: Total respondents More than two thirds (68%) of consumers have a budget for holiday gift giving –nearly half will stick to their budget (48%), 14% will over budget and 6% will come under budget. One in four (25%) do not have a holiday gift budget this year. 25% 34% 15% ANY Budgeting* * Not shown: not sure 68% 62% 83% NO Budgeting*
8 Smart Spending Strategies © echo Most consumers are shopping clearance or sale merchandise and clipping coupons in their effort to be resourceful and stretch their holiday shopping dollars (58% and 51%, respectively). How do you plan to be resourceful and stretch your holiday shopping dollars this year? BASE: Among those shopping for the holidays this year Note: Use Reward Points, Social Media Sites and Private Sales are new items asked in 2011 only Significantly HIGHER/ LOWER in 2011 versus 2010
9 Eliminating Someone from Holiday Gift List © echo If you had to eliminate someone from your holiday gift list in order to stay within your budget this year, who would it most likely be? BASE: Total respondents In thinking about holiday gift list recipients, more consumers among the general population would eliminate a family member (other than a spouse or child), if they had to, than their friends from their list (18% vs. 13%).
10 Role of the Internet on Holiday Shopping © echo What role will the internet play in your holiday shopping this year? BASE: Total respondents Nearly a third of consumers will surf the web to research products and compare prices online before buying in-store to obtain hard-to-find items (31%), while others will use the internet to make purchases online (50%).
11 Use of the Mobile Device for Holiday Shopping © echo Which of the following ways do you intend to use your cell phone or mobile device for holiday shopping this year? BASE: Total respondents About one in four consumers will use their cell phone or mobile device for holiday shopping, from browsing for gift ideas (13%) to making purchases (6%). But before buying, shoppers will do their homework, using their device to compare prices (12%), fire up barcode scanning apps to track down the best deals (9%) and access offers on social media sites like Groupon, Foursquare or Facebook (7%). Young professionals are especially technologically savvy, with 63% planning to use their mobile phones to shop this season. Intended Usage of Cell Phone or Mobile Device for Holiday Shopping 24% 35% 63% Any Mobile Device Usage
12 Most Appealing Reasons to Shop Online © echo What's the most appealing reason for shopping online over the holidays? Top 3 out of 8 items shown above BASE: Among those who will make purchases online this holiday season Among those who will purchase online, one in four will do so to avoid long lines and crowded stores and because they can do their shopping without leaving their home (25% each). Most appealing reasons… Online Holiday Purchasers
13 Holiday Shopper Gift List © echo 1 How many people are on your holiday gift list this holiday? 2 Do you have more, less, or the same number of people on your holiday gift list as last year? Among those shopping for the holidays this year On average, holiday shoppers have nine people on their gift lists this year. The majority of holiday shoppers will purchase gifts for the same number of people as last year (60%). Number of people on gift list compared to last year 2.. Average Number of People on Holiday Gift List this Year 1 9 10
14 Who will Consumers Spend the Most on this Holiday Season? © echo 1 Who do you plan to spend the most on this holiday season? [Shown above – top 5 out of 11 rated] BASE: Among those shopping for the holidays this year 2 How much do you plan to spend on the one person you will spend the most on this holiday season? BASE: Among those planning to spend on (children/ spouse). Sample size too small to view averages for mother, extended family, siblings, friends. Children and significant others top holiday shopping lists (35% and 25%, respectively) –spending an average of $270 on children and $373 on their spouse. Average expect to spend on person 2 $270 $373 Person Plan to Spend the Most on This Holiday Season 1
15 What are the Most Gifted items? © echo Show above – top 10 out of 23 items rated Which of the following types of items will you be likely to give as gifts this year? BASE: Total respondents The gift card is the leading holiday gift again this holiday season (58% vs. 53% in 2010). Significantly HIGHER/ LOWER in 2011 versus 2010
16 Other Holiday Spending © echo Aside from buying gifts this holiday season, what other holiday expenses do you anticipate? BASE: Among those shopping for the holidays this year In terms of other holiday expenses, holiday shoppers plan to invest in experiences compared to spending on traditional holiday items like decorations. An increased number of holiday shoppers will host holiday parties (26% vs. 20% in 2010), or enjoy a special dinner out (29% vs. 24% in 2010). Significantly HIGHER/ LOWER in 2011 versus 2010
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