Boston.com readers plan to wait to holiday shop, and keep a close eye on their wallets
My work and personal email inboxes are chock full of online ads, promoting next week’s so-called “Black Friday” retail doorbusters to kick off the holiday shopping season.
Seems as if retailers in the Greater Boston area need to do a little more homework, though, if they want to capture this market. According to the results of the survey that I posted last week, more than 70 percent of Boston.com readers plan to wait to do most of their holiday shopping until early December, when there aren’t many crowds in the stores. I have to agree with my readers. Who wants to deal with Black Friday when you can wait a few days and have some time to think and space to breathe in the stores?
Several companies that have contacted me, claiming to have done “studies” that forecast an increase in holiday shopping spending, also don’t seem to have a good pulse on what Boston-area residents plan to do. Sixty-four percent of readers who answered my survey said their budgets are going to stay the same this year. Another 25 percent said they’re reducing it. Only 11 percent will increase their budget.
And the budgets are finely tuned. Almost 42 percent said they would spend up to $500 on gifts this year. Another third said between $500 and $1,000. That’s in line with the study by the National Retail Federation that I wrote about last month.
I liked hearing about the reasons for the firmer budget. About 70 percent said that they had focused on tightening their budget overall and didn’t feel the need to spend as much. Some readers wrote in responses that included, “I’d like to focus less on the stuff and more on the reason for the season and family together time.” Another reader echoed that sentiment by sharing that they have a major vacation planned for January.
A third reader said they had been watching online sales and have been purchasing things for the past few months. I liked their tip on their spreadsheet too – “I also use a spreadsheet but have added a column to indicate where I put the gift that I have already purchased!” That’s a great idea, and I am totally going to add that column to mine as well!
In terms of types of gifts, electronics, clothing and toys topped the list – not surprising considering that 70 percent of respondents were married and 61 percent have kids.
Thank you for taking the time to answer the survey, and share your plans for holiday shopping! Have a wonderful Thanksgiving holiday!
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About the author
Christine Dunn has almost two decades of experience writing about finance and business issues. As founder and president of Savoir Media, she works with companies and executives on developing strategic, integrated media and marketing programs. Prior to starting her business, she worked at Bloomberg News, where she served as Boston Bureau Chief and ran industry coverage for several national teams of reporters, including consumer/retail, mutual funds and education. To reach her directly, email ChristineODunn@gmail.com or join her on Facebook at www.facebook.com/ChristineODunn.Recent blog posts
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