During the holiday shopping season, consumers are faced with endless deals and doorbusters, both instore and online. With so many well-priced items, who can resist picking up something for themselves? In fact, according to our most recent Lab42 study, two-thirds of shoppers shop for themselves during the holidays.
Everyone spends more this time of year on gifts for friends, family and loved ones. But when you’re faced with an item that you really want and it’s at a good price, do you consider how much you’re spending on others and budget accordingly? Interestingly, 41 percent of shoppers we surveyed do not create a budget for their own self-spend.
Of those who do create a budget for themselves (59 percent), 53 percent budget $100 or more for their self-gifting. When it came to budgeting for others, however, just 34 percent of that same group planned to spend $100 or more per gift recipient.
We conducted the study immediately after Black Friday and Cyber Monday and asked for consumers’ reactions to the holiday shopping weekend, specifically in-store shopping on Black Friday and online shopping on Cyber Monday. Fifty-four percent rated Cyber Monday as “very enjoyable,” while only 25 percent rated Black Friday the same way. Given shoppers’ more favorable opinions of Cyber Monday, it’s no surprise that consumers are buying online more than ever. Sixty-four percent of all holiday shoppers surveyed will shop online more this year than in 2011, with 48 percent spending more overall this year.