Shoppers are cutting their holiday spending budgets this year.
JLL surveyed 1,089 U.S. consumers online in September to find out how they intend to shop for holiday season. The per-person average holiday budget decreased 20.5 percent from last year: $873 (last year, pre-COVID) to $694 this year.
Holiday budget per person
Shopping habits consumers had during the retail shutdown earlier this year are sticking. While slightly fewer consumers will shop in-store this year, the percentage of consumers who plan to shop at a pure-play online retailers like Amazon rose over 16 percentage points year-over-year to 58.5 percent.
Other trends that emerged this year include:
-The top three retailers remained the same but more consumers will visit them
-Shoppers who want to have fun will spend more
-Value is the top priority
-Shopping will begin early and consumers will look for deals throughout the season
-Most Americans will buy something for themselves this year
Download full report here.
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