Holiday Season Gift Buying Trends and Forecast 2020
It’s official! 2020 holiday season is indeed going to be the retail’s busiest season in spite of all the difficult times. Reports show that 2020 Holiday sales are expected to grow by 3.6 to 5.2 percent, much to the delight of the retailers.
There has been a marked shift in the retail market as consumers strive to break free from the uncertainty and stress of the pandemic by celebrating the holidays and hoping for a better tomorrow.
In total consumers plan to spend $997.79 on gifts, holiday items such as decorations, food and other purchases for themselves and their families.
The overall spending per person on other holiday items like decorations is up and the expected spending remains significantly higher than the last 5-year average.
Consumers are spending as much this year on gifts and other items to celebrate the holiday cheer as they do during any holiday season. Consumers plan to spend $998 on average on items such as gifts, food, decorations and other holiday-related purchases for themselves and their families.
Approximately $ 650 will be spent on gifts for friends and family, $230 on non gift items like decorations and candy while $117 will be average spending on other holiday purchases
Popular shopping mode
60% of holiday shoppers plan to shop online, 45% prefer to shop in department stores while 43% may be shopping at discount stores during this holiday season.
Top Gift choices
Restaurant gifts cards top the list at 29%, department store gifts cards at 28% is at a close second slot followed by coffee shop gifts cards.
Among the gifts that most shoppers would like to receive include apparels, gift cards, toys, books, food and candy, tech accessories and home décor items.
Celebrating the spirit of Holidays
2020 also happens to be a holiday season to celebrate the resilience and camaraderie of people in staying united at the time of crisis and a special time to cherish for families and communities across America.
This year, 87 percent of consumers plan to celebrate the winter holidays, which include events like Hanukkah, Christmas and Kwanzaa.
Businesses, individuals and community organizations will be choosing the best custom gifts this holiday season to show their spirit and goodwill to all the special people in their lives. Show that you care and reach out to your audience even when they are miles away with these personalized gifts that will convey your holiday greetings with a personal touch.
Browse our well sorted list of holiday gifts to choose something special!