BBI's Analysis: 2024 Holiday Insights and Consumer Trends
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As the year unfolds, BBI dives into Numerator's 2024 Holiday Preview survey, unveiling insights into the holiday plans of 5,132 US consumers. The comprehensive report sheds light on celebration intentions, shopping patterns, and spending expectations for 14 key holidays throughout the year, with a closer examination of Valentine's Day, St. Patrick's Day, and Easter.
Celebration Intentions on the Rise
In 2024, an optimistic trend emerges as 80% of US consumers plan to celebrate holidays. Valentine's Day and New Year's Eve see a 4-point increase, while Independence Day anticipates 68% participation, up by 3 points. Halloween and Thanksgiving expect 61% and 89% participation, each increasing by 1 point.
Advanced Planning and Gathering Trends
Consumer holiday plans vary, with Cinco de Mayo and St. Patrick's Day proving to be more spontaneous. In contrast, a third of shoppers meticulously plan Christmas celebrations three or more months ahead, followed by Thanksgiving and Halloween.
Celebration Trends
The heart of holiday celebrations lies in gathering with friends and family, topping the list as the #1 way consumers plan to celebrate across various holidays, marking a 3% increase from the previous year.
Food Preferences and Purchase Intentions
Purchase intentions are high, with nine out of ten celebrators expressing their intent to make a holiday-related purchase. Food plays a central role in holiday celebrations, with cooking at home preferred for Easter, Thanksgiving, and Christmas. Going out to eat gained popularity for Valentine's Day, Cinco de Mayo, and Mother's & Father's Days.
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Top Purchased Items
Food and alcohol consistently top the list of items purchased for holidays, with candy also gaining prominence for Halloween, Easter, and Valentine's Day. This trend reflects the diverse ways consumers choose to enjoy and celebrate different occasions.
Holiday Spending Insights
About a third of shoppers plan to spend between $50 and $100 per holiday, with Thanksgiving, Hanukkah, and Christmas emerging as the holidays with the highest expected spending. Notably, 80% of shoppers plan to spend $100 or more on Christmas, highlighting this festive season's significance in consumer spending.
Diverse Shopping Locations
The choice of shopping locations varies across holidays, with grocery stores being the top destinations for Thanksgiving, Labor Day, and Independence Day. In contrast, big box retailers and online platforms witness increased traffic during Christmas and Halloween, showcasing the shift in consumer behavior based on the nature of the holiday.
A Closer Look at Q1 Holidays
Valentine's Day
• 61% of consumers plan to celebrate.
• Big box stores, grocery stores, and online retailers are the preferred shopping locations.
• 49% expect to buy candy, 43% food, and 47% gifts.
• 27% are planning to spend between $25 and $50.
St. Patrick's Day
• 32% of consumers plan to celebrate.
• Gathering with friends & family or going out for food or drinks are top activities.
• 47% plan to buy food, with grocery stores as the preferred shopping location.
• 30% expect to spend between $25 and $50.
Easter
• 69% of consumers plan to celebrate.
• Preferred locations are grocery stores, 57%, and big box stores, 53%.
• Two-thirds will buy food, half will buy candy, and a quarter will buy gifts.
• 30% expect to spend between $50 and $100.
As celebrations become more spontaneous for certain holidays, advanced planning and diverse shopping choices continue to shape the way Americans mark key occasions. Whether it's gathering with loved ones, cooking at home, or exploring various shopping avenues, this comprehensive overview of consumer intentions provides valuable insights into holiday trends.
