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How will consumers spend their money this holiday season?
24 November 2008
The tough economy is casting a shadow over many people's gift-giving list this holiday season, providing a question mark as to how they will spend their hard-earned cash this holiday season.
To better understand the shopping and entertainment habits of consumers, Microsoft has collaborated with Ipsos and StrategyOne to produce a holiday entertainment survey of US consumers.
Main findings include:
- 60 percent of respondents are planning to stay at or close to home to save money over the holidays
- 71 percent are looking for one gift to bring the family together
- 89 percent are hunting for gifts that keep on giving
- 81 percent of adults in households with children are looking for gifts that provide entertainment while staying home this year
- 86 percent of young adults hope to receive at least one video game this year
- 40 percent of adults will visit the movie theater less than last year
Two-thirds of respondents in the survey said they are planning to spend less on friends and family than they did last year, with the average American reporting they plan to reduce holiday gift spending by 16 percent, an average of US$124 less than 2007.
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