Christmas shopping will continue despite economic volatility in the United States
Although the last year has been marked by economic instabilitythe inflationthe high prices of the fuelsthe conflicts and the still latent fears of a recessionthe attitudes of the consumers Americans towards the Christmas shopping remain remarkably consistent with those reported in 2022, according to the latest data from the consumption tracker of Ipsos.
Compared to last year, almost the same proportions of people plan to do impulse purchases (69%), consider it important to buy in stores of locally owned (65%), plan buy mainly in line (60%), they know exactly where they plan buy (58%), and they will only buy sale items (53%) in this season festive that is already beginning to be felt in the trade.
According to Ipsosthe attitudes of the consumers have remained remarkably constant since August 2021. The largest change recorded was an 8% drop in the number of those who indicated that their intention was buy mainly in lineprobably reflecting the end of fear of Covid-19 in the stores physical.
John Harmon, principal retail and technology analyst at Coresight Research, said in an interview with cnnthat although an increase in the shopping of the Christmas seasonthis would be just one digit compared to the previous year, showing a stable trend.
Although wages by hour have increased and the employment rate continues to decline, these benefits are offset by the persistent inflationinterest rate hikes and the return of student loan payments, to name a few challenges.
Despite these obstacles, Harmon maintains that consumers they still show resistance and continue buying products and servicesboth necessary and discretionary: “Until now, the consumers They seem to have the desire, the will and the power to continue spending", held.
In front of the end of year salesHarmon also indicated that “the pattern of bills christmas has changed. Not everything happens during the fourth quarter anymore.” To adapt to the changes, he explains, some retailers, such as Home Depot, began to implement commodity theme christmas since the month of August.
This tactic, known as the “spreader effect,” has been adopted by retailers to prolong the season of christmas sales In response to early demand from consumer for Christmas products, left by the Covid-19 pandemic.
In 2021 shops how Amazon and Walmart started sales christmas much earlier than usual, due to the fear of low demand for the consumers. The same thing happened in 2022 and is happening this year.
On the other hand, Marshal Cohen, senior analyst at sales Circana retail, anticipated that buyers They will spend on gifts, but in a more moderate way than in previous years. "The consumers no rush to spend and a lack of inspiration with so few articles new and exciting events results in some rather monotonous festivities in the sector retail", said to cnn.
The credit card debt of the Americans recently surpassed one billion Dollars for the first time, according to recent data from the Federal Reserve Bank of New york. This is a major concern, as the savings rate has fallen and savings levels debt of the consumer have increased.
These forecasts contrast sales expectations during the Christmas campaign, a season significant for the retailers, since it can represent up to a fifth of its annual sales. Although the sales They are not expected to be spectacular, an increase compared to the previous year is still expected.
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