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24 Oct, 2013

State of Economy will Influence U.S. Consumers to Save Heavily this Holiday Season


AUSTIN, Texas, Oct. 23, 2013 /PRNewswire/ — With Black Friday fast approaching, consumer confidence may have an impact on holiday shopping. The current state of the economy will drive 41% of consumers to look for ways to save money on their holiday shopping this year, seeking out bargains and coupons. In response to the economic doldrums retailers will be offering shoppers more sales and deals this year.

“Consumers simply aren’t confident in the economy right now,” said Offers.com CEO Steve Schaffer, “and the recent government shutdown and ongoing budget fights in Washington DC have only created more doubt among American shoppers. If that weren’t problematic enough, our survey data shows that only 19% of online shoppers always look for coupons or deals to save money.”

Offers.com is revealing its annual holiday shopping and coupon usage survey results, according to data compiled in conjunction with IPSOS.

Coupon Usage Not What It Could Be

While 65% of online shoppers seek out coupons online either always, most of the time, or sometimes; only 19% search for coupons, deals and sales every time they shop online.

  • Seven in ten females seek out online savings at least some of the time when shopping online, compared to six in ten males.
  • 77% of people with children in the household look for savings online at least sometimes, compared to 62% of people without children in the household.
  • 74% of consumers aged 18-34 look for savings at least sometimes versus 59% of consumers who are 55 and older, an 11% difference.
  • People with a college degree are more likely to seek out online savings than those without one (93% vs. 86% of those without a college degree).

Holiday Shopping Plans Help Consumers Save

Making a holiday shopping plan is an important step in actively saving money. About half of people (51%) make a holiday gift list, and 62% set a budget for their holiday gift shopping.

  • Among online shoppers, 40% of people do the majority of their online holiday shopping throughout the year, and 33% shop from Thanksgiving Day through Christmas Eve.
  • Females are much more likely to make a holiday gift list than males (64% vs. 37%), and more females will set a holiday budget than male counterparts (68% vs. 55%).
  • People who frequently (i.e., always or most of the time) seek savings online are more likely to make holiday shopping plans: 61% of those people will create a holiday gift list and 70% will create a holiday budget.

“Concerned consumers are taking steps to save money on their holiday shopping this year,” Schaffer said. “The majority are making gift lists, setting budgets, and shopping early. But, consumers can easily save more money by using Offers.com to help them save on all their holiday shopping needs.”

The full results of the survey, conducted by IPSOS September 23 – 24, 2013 with visual representations can be found in the Offers.com Factum.