If our memory is correct, and we’re sure it is, retailers have felt pressure to offer deals during each and every holiday gift-giving season since the Great Recession. And this year, according to a new survey, consumers are expecting the deals to be better than what they saw last year. But there’s also a modicum of good news.
According to PriceGrabber, two thirds of all shippers think retailers will be offereing deeper discounts than they did in 2012.
On the plus side, consumers are not letting the season sneak up on them – PriceGrabber found that 21% of all consumers have been setting money aside for gifts since before the month of June.
“Our survey found that the current state of the economy continues to lurk in the minds of consumers, and shoppers expect deeper discounts this holiday season,” said Rojeh Avanesian, SVP of Marketing and Sales of PriceGrabber. “The U.S. fiscal concerns could play a pivotal role in consumer confidence in the economy. Retailers will need to adapt and be sensitive to consumer sentiment to maintain customer loyalty.”
A plurality are going to maintain 2012 spending levels. 52% said that, with an almost equal percentage of consumers planning to spend more or less. Unfortunately, the nod goes to spending less 25%-23%. But the positive underpinning of this set of statistics is that the percentage planning to spend more is up 11% over 2012.
PriceGrabber noted that Hanukkah starts early this year, which will move the timing of some gift-buying. Many celebrants of that holiday will do some early buying but also intend to hold off on some of their shopping until Black Friday discounts are available.
RBR-TVBR observation: If a retailer is forced to squeeze the margins, the way to make up the difference is with volume. That’s where broadcasters come in – it is your job to make sure retailers publicize their sales and get lots of people into their building so they enjoy a robust and happy gift-selling season.