Shoppers Plan To Cut Back This Gift Giving Season

Well, there’s no guarantee it will happen, but the majority of shoppers plan to spend less overall on gift giving this holiday season, according to a new survey.

The study, done by marketing research firm SteelHouse, found that 62% of us say we will spend less overall this year. 36% of respondents said they will spend more time shopping online as compared to shopping at malls looking for gifts.

And in this economy, discounts are becoming expected. 34% of shoppers with children said they would not buy something unless it was either discounted or included free shipping. 20% of these families said they will use social media to find and share discounts with others.

The slow economy appears to be rippling up the income ladder as well. The survey found that 13% of households with an income over $75,000 reported they would be using coupons for the first time this holiday season. 36% in this same income range said they would not buy products without there being a discount or free shipping.

The survey was conducted on 1000 adults from August 22-24, by SteelHouse and their partner Synovate eNation.

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Faroh Sauder has spent more than 30 years working as a journalist and educator. He has written on politics, international affairs, civil rights, and consumer education. Now mostly retired, Faroh continues to stay current on tech and consumer issues and reports on his interests here at News For Shoppers.