As the holiday season approaches, Numerator's 2023 Q4 Holiday Preview sheds light on consumer sentiments and plans for Thanksgiving, Christmas, and New Year's Eve. Based on a survey of 4,500 consumers conducted in September 2023, the insights provide a glimpse into spending patterns and celebrations for the upcoming festivities.
Celebration Rates: 91% of consumers plan to celebrate Thanksgiving, emphasizing its continued significance in family traditions.
Main Focus: Food takes center stage for Thanksgiving celebrators, with nearly nine in ten indicating they will purchase groceries for the holiday.
Shopping Preferences: Grocery stores dominate Thanksgiving shopping, with three-fourths of shoppers opting for these outlets. Mass retailers also attract a third of consumers.
Changing Trends: While traditional Thanksgiving items like turkey, rolls, and pies top shopping lists, the category has slightly declined from 15% last year to 13% this year.
Celebration Trends: Christmas celebrations remain consistent with previous years, with 93% of consumers planning to partake in the festivities.
Gifts and Decorations: Three-fourths of shoppers intend to give gifts, while two-thirds will decorate their homes or prepare special meals.
Shopping Behavior: Online retailers are expected to be the go-to for Christmas shopping, closely followed by mass retailers. Despite 69% planning to spend $200 or more, a quarter of shoppers anticipate spending less than last year.
Changing Preferences: While gifts and food remain popular purchases, intentions to buy decorations, candy, and apparel slightly declined compared to the previous year.
New Year's Eve:
Increased Celebration: New Year's Eve sees a rise in overall intention to celebrate, with gatherings, cooking, ordering in, and going out all on the upswing.
Shopping for the Occasion: Food, candy, and alcohol are popular for New Year's Eve celebrations. Candy purchases increased slightly from 16% to 17% compared to the previous year.
Preferred Retailers: Grocery stores dominate New Year's Eve shopping, capturing the attention of over half of the surveyed shoppers. Mass retailers and liquor stores follow closely behind.
Holiday Sales Highlights:
Pre-Holiday Sales Participation: Four in five shoppers anticipate participating in pre-holiday sales, signifying a strong interest in early promotions.
Thanksgiving Weekend: Nearly three-fourths of shoppers plan to take advantage of Thanksgiving weekend sales, and half are gearing up for Black Friday and Cyber Monday.
Key Shopping Days: "Prime Big Deal Days" emerges as the most anticipated retailer-specific sale among shoppers, showcasing the evolving landscape of holiday shopping preferences. As consumers gear up for the festive season, these insights from Numerator's 2023 Q4 Holiday Preview provide a comprehensive overview of the changing trends and preferences shaping this year's celebrations.