Surveys

5 Things to Know about Holiday Shoppers This Season

SurveysOct 06, 2022

5 Things to Know about Holiday Shoppers This Season

From inflation concerns to in-store shopping, KPMG’s latest holiday survey dives into when, where, and how consumers want to shop.

2022_Holiday gifts.jpg
A holiday survey by KPMG found consumers’ top concern this season was inflation.
New York—This holiday season, the Grinch is inflation.

In a new report by accounting titan KPMG, rising prices topped respondents’ list of concerns heading into the holidays.

For its “Consumer Pulse Survey: Holiday 2022” survey, KPMG reached out to around 900 Americans to get a sense of their holiday plans, including what they’ll spend and on who.

Here are five important takeaways from the report.

Consumers will likely spend more on gifts this year, but many will give gifts to fewer people.

Holiday shoppers plan to spend, on average, $1,072 this season, a 6 percent increase compared with 2021. Nearly 44 percent plan to spend $500 to $2,000.

Notably, compared with the prior year, this year’s increased spending is expected to be in essential rather than discretionary categories.

“While consumers remain resilient and plan to spend a bit more this holiday season, it will likely not outpace inflation,” said Matt Kramer, KPMG’s consumer and retail national sector leader.

“Consumers will be looking for promotions this holiday season and retailers should be looking to respond by having desirable gifts for the budget conscious consumer.”

While shoppers may be spending more, their gifting list could be getting shorter.

One in four respondents said they would buy gifts for fewer people this year. Only 14 percent expect to buy presents for more people.

Less than half of respondents said they would buy holiday gifts for their parents or in-laws.

Fewer respondents plan to buy gifts for their significant other, siblings, friends, grandparents, and co-workers.

Shoppers will spend an estimated $250 per year per gift recipient this year, said the report, an 11 percent increase compared with $225 last year.

As for what they’ll be buying, the top choice (55 percent) is apparel followed by retail gift cards and gift certificates at 55 percent. Of those surveyed, 24 percent plan to buy jewelry, flat against last year’s count.

Inflation is the top concern for consumers.

Inflation topped the list of shopper concerns with 85 percent of those surveyed saying they were at least somewhat concerned about inflation.

The Consumer Price Index, which measures the average change in prices over time consumers will pay for a basket of goods and services, rose 8 percent year-over-year in August and 0.1 percent month-over-month.

In response to inflation concerns, 37 percent said they would buy fewer gifts per person while 34 percent plan to buy less expensive gifts.

However, 21 percent of respondents concerned said they would not change their behavior. 

The second-most prevalent concern for shoppers (63 percent) is out-of-stock items.

To get that perfect gift before it sells out, respondents plan to shop early (46 percent) and shop online (35 percent). 

The third-biggest concern is delayed shipping at 57 percent. The most popular solution for that was shopping early (53 percent), followed by shopping more in person (25 percent).

 Related stories will be right here … 

Fewer consumers will be shopping early.

A majority of holiday shoppers are not planning to shop as early as they did in 2020 and 2021.

There will still be an early start, with 52 percent starting in October or earlier, but that’s down from last year’s 61 percent.

Most holiday shoppers plan on shopping Black Friday sales (60 percent) and Cyber Monday (51 percent).

For the first time, Amazon is holding a second Prime Day sale, slated for Oct.11-12, and 42 percent of respondents plan to shop on those days.

As online shopping popularity increases, many still want to buy jewelry in person.

Looking at shopping preferences, 36 percent of respondents said they prefer to shop online rather than in store, up from 23 percent last year.

However, when buying jewelry, nearly half of respondents (49 percent) said they would prefer to have that experience in person.

The same was said for the apparel, decor, furniture, and automotive categories.

When doing holiday shopping research, retailer websites were the top choice at 52 percent followed by word of mouth from family and friends (51 percent).

As for where else consumers will shop, a majority of respondents (73 percent) said they were “likely” or “extremely likely” to shop at mass market retailers, followed by discount stores (56 percent).

Notably, luxury department stores were at the bottom of the list at 18 percent.

Travel and holiday gatherings are back.

Consumers are planning to attend more holiday gatherings this year, 5.9 on average compared with 5.5 last year, with family events being the most popular choice.

In preparation for the holiday fun, 12 percent of respondents said they planned to buy jewelry to wear. Nearly one-quarter (24 percent) will buy a host gift.

Travel is one of jewelry’s main competitors in the quest for discretionary dollars, and nearly one-third of respondents plan to travel this Thanksgiving, up from 2021.

More than one-third of respondents plan to travel for the winter holidays, 5 percent more than in 2021.

Travelers are also expected to pay more to get to these destinations this year. Expected travel spend this year is $1,388, a 26 percent increase compared with $1,106 last year.

The Latest

Lightbox x Roséate Light Wand pendants
Lab-GrownDec 01, 2023
Lightbox Teams Up With Brand Founded by Former Tiffany Exec

The lab-grown diamond brand also collaborated with the website The Future Rocks on a collection launching today.

Lila Moss Calvin Klein campaign
FinancialsDec 01, 2023
Movado Lowers Guidance Again After Q3 Sales Dip

The company said it is facing a “challenging retail environment” but is prepared for the holiday season.

Muzo emerald and argyle pink diamond necklace
CollectionsDec 01, 2023
Piece of the Week: Muzo’s Emerald and Argyle Pink Diamond Necklace

It’s the hero piece of the newest "Green Jewel" collection, a collaborative offering from the two mines.

Platinum  Guild International Diamond Rings
Brought to you by
If It’s Custom, Make It Platinum

With holiday proposals right around the corner, encourage your customers to go for platinum when making the big purchase.

Pink Supreme Diamond
AuctionsNov 30, 2023
This Pink Diamond Reigned Supreme in Hong Kong

The 15.48-carat fancy intense “Pink Supreme” topped Christie’s fall jewelry auction in Asia, while a Patek Philippe led the watch sale.

Weekly QuizNov 30, 2023
This Week’s Quiz
Test your jewelry news knowledge with this short test.
Take the Quiz
Claire’s CFO COO Chris Cramer
MajorsNov 30, 2023
Claire’s Hires Former Bath & Body Works Exec as CFO, COO

Chris Cramer, who also spent time at Gen Z intimates brand Parade, will take on the dual role.

133 carat yellow diamond
AuctionsNov 30, 2023
Sotheby’s To Auction 133-Carat Yellow Diamond

The stone headlining the upcoming sale could fetch up to $5 million.

IGI-BTYB-103023.jpg
Brought to you by
Did You Know? The Vital Role of IGI: The International Gemological Institute

In a world where the sparkle of a gemstone is only as brilliant as the trust behind it, IGI's purpose is truly invaluable.

Kwiat diamonds
IndependentsNov 30, 2023
Frank Adams Rolls Out Kwiat’s ‘Mine to Shine’ Program

The retail offering lets customers track their diamond’s journey.

Diamond development hub in Angola
SourcingNov 29, 2023
Largest New Diamond Mine of the Decade Coming Online in Angola

The Luele mine is expected to eventually make the country the world’s third-largest diamond producer.

Cast StyleBar Nordstrom
MajorsNov 29, 2023
Cast Debuts at Nordstrom, Closes on More VC Funding

The growing company also plans to open more of its own boutiques.

20180509_Buffett-header.jpg
EditorsNov 29, 2023
Warren Buffett on Success, Mistakes and Betting on America

The best quotes from the Oracle of Omaha and his right-hand man Charlie Munger from the 2018 Berkshire Hathaway shareholders meeting.

J. Dostie Jewelers
IndependentsNov 28, 2023
Maine Jeweler to Relocate After 76 Years

J. Dostie Jewelers will move from Lewiston to Yarmouth this spring.

Finks Jewelers new store
IndependentsNov 28, 2023
Fink’s Jewelers Opens 10th Store

It’s the company’s second location in Tennessee.

Mary Tyler Moore and a pair of Elsa Peretti Bone Cuffs
AuctionsNov 28, 2023
Mary Tyler Moore’s Jewelry Is Up For Auction

You can have this jewelry, why don’t you take it?

Original Miami Beach Antique Show 2024
Events & AwardsNov 28, 2023
The Original Miami Beach Antique Show Is Celebrating 60 Years

Next year’s milestone show will be full of educational programming and collaborations.

De Beers Metamorphosis high jewelry earrings
EditorsNov 27, 2023
10 Tips for Selling Diamonds This Holiday Season

Sales experts and a diamantaire share their best advice on how to send customers home with diamond jewelry.

Platinum Born new collection
CollectionsNov 27, 2023
See the New ‘Platinum Born’ Jewelry

The brand has released five new collections.

Frank Adams Jewelers
IndependentsNov 27, 2023
Frank Adams Jewelers Named ‘Family Business of the Year’

The Albany Business Review recently honored the 100-year-old company.

GIA Dr. John W. Valley
GradingNov 27, 2023
Dr. John W. Valley Retires from GIA Board of Governors

To honor his legacy, GIA has set up a scholarship in his name.

Stock image of police car with its lights on
CrimeNov 22, 2023
JSA Warns of Surge in Attacks on Jewelers on the Road

There have been eight attacks in the last month, spanning from a jewelry store parking lot in Rhode Island to highways in California.

Buddha Mama citrine bangle
TrendsNov 22, 2023
Amanda’s Style File: November Glow

These 15 pieces of jewelry celebrate November babies and the hues of citrine and topaz that reflect the colors of the season.

Columbia Gem House fundraiser
SourcingNov 22, 2023
Columbia Gem House Raises $12K for Wildlife

The money will help a nonprofit rehabilitate sea turtles.

Facet Barcelona factory opening
MajorsNov 22, 2023
Facet Barcelona Opens New Factory in Spain

The jewelry manufacturer said it can now better serve the North American market.

David Yurman holiday campaign
TechnologyNov 21, 2023
See David Yurman’s New High-Tech Holiday Campaign

The jewelry brand takes viewers through a virtual winter wonderland set in New York City.

2023 Rock the Jewels Awards winners
Events & AwardsNov 21, 2023
Here Are the Winners of BIJC’s Inaugural ‘Rock the Jewels’ Awards

The organization recognized outstanding industry players at its celebratory event.

Rough diamonds from De Beers Gahcho Kue mine
SourcingNov 21, 2023
De Beers’ Rough Diamond Sales Sink to $80M

India’s voluntary moratorium on rough diamond imports coupled with a stunted recovery in China continue to impact the miner.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy