American Consumers Planning to Spend Less This Holiday Season
A recent survey by Trustpilot found that American consumers are expected to spend less during the 2023 holiday season compared to the previous year. On average, shoppers who participated in the 2022 holiday season intend to spend 39% less on gifts. Increased prices and higher shipping costs are cited as reasons for reduced spending. Consumers blame retailers and brands for shopping frustrations, rather than delivery companies. Trust in businesses delivering products on time has increased, but there is still room for improvement.
Source: Link
Frequently Asked Questions
Are American consumers planning to spend less this holiday season?
Yes, according to several sources, including Gallup, SupplyChainBrain, Gartner, and the New York Post, American consumers are indeed planning to spend less this holiday season compared to previous years.
Source: SupplyChainBrain, Gartner, New York Post
What factors are contributing to the decrease in holiday spending by American consumers?
Financial stress and concerns about the economy are among the factors leading to the decrease in holiday spending.
Source: NPD
How much are American consumers planning to spend this holiday season?
The specific amount that American consumers plan to spend varies. However, Gallup reports that some consumers plan to spend less than $250, while Gartner's survey found that 28% of consumers are planning to spend less this holiday season.
Will the decrease in holiday spending affect retailers?
Yes, the decrease in holiday spending is expected to have an impact on retailers. CNBC mentions that retailers are anticipating cutbacks in consumer spending, although the impact may be slight compared to previous years.
Source: CNBC
Will American consumers spend more overall during the holiday season, despite planning to spend less on holiday expenses?
According to Investopedia, while consumers plan to spend less on holiday expenses, they are still expected to spend more overall during the holiday season.
Source: Investopedia