Less Spending, More Coupons, This Holiday Season

Less Spending, More Coupons, This Holiday Season

According to a Harris Interactive survey for RetailMeNot.com, 45% of US online adults plan to spend less money on gifts this holiday season than last because of the state of the economy, while one in five plan to spend significantly less. 89% of online adults think coupons are a great way to save money, and 35% of those who will be spending less money on gifts this holiday season will use coupons, the study found.
Among the other shopping strategies for spending less money on holiday gifts, according to online adults who will be spending less money this holiday season:
2008 Holiday Shopping Strategies
Expectation % of Shoppers
Purchase fewer gifts 83%
Buy less expensive gifts 63
Shop at discount stores 44
Shop Online 37
Use coupons 35
Make gifts 22
Shop during Black Friday sales 19
Source: Harris Interactive, October 2008
According to the study, 80% will purchase fewer gifts this year by buying gifts for fewer people (46%), buying a smaller amount of gifts for the same number of people (43%), or making some gifts instead of purchasing them (22%). Additionally:
• Those who shop online are expecting to either to find better deals (32%) and/or to save money on gas (24%)
• 29% will shop early to avoid impulse buys
• 12% will wait until the last minute to get more discounts
Of the 83% of online adults who are willing to make online purchases, 71% say the most popular items are books followed by music and electronics
What Online Shoppers Are Planning to Buy
Purchase % of Shoppers
Books 71%
Music 62
Electronics 55
Clothing 51
Travel 50
Office supplies 39
Health & Beauty 34
Source: Harris Interactive, October 2008
85% of online shoppers use tools or websites to find good deals online. 56% of online shoppers use search engines to find bargains. In addition, they have found other ways to save:
Online Tools for Finding "Good Deals"
Tool % Shoppers Using
Price comparison websites 32%
Online coupon websites 25
Online advertisements 23
Bargain tracking websites 12
Shopping-themed social networks 5
Source: Harris Interactive, October 2008
Guy King, cofounder of online coupon website RetailMeNot.com, concludes that "... consumers are becoming more strategic in the way they look for deals... coupon use, in particular, is on the rise and more consumers are realizing tremendous savings... In addition... online tools are creating new channels for retailers to reach budget-conscious shoppers... "