JLL has just released its popular annual JLL Holiday Shopping Survey Report, in which it surveyed 1,095 consumers to learn how they will shop – and how much they will spend – this holiday season.
In the survey, JLL found consumers plan to maximize their dollars this year and move from gifts to experiences.
Top 5 takeaways for holiday shopping
1. Experience is on the list. Holiday shoppers plan to spend a healthy $958 per person this holiday season – 22.8% of which will used for holiday entertainment and experiences. More than 90% of respondents surveyed plan to participate in at least one holiday-related experience. And they’re doing so more than they did in 2022.
2. The perfect gift is a priority. Women will splurge on gifts this year- – spending over 40% more than men. Older generations will also spend more on gifts than younger cohorts, particularly Boomers (aged 60 and above) who are likely splurging on grandkids.
3. Consumers are channel surfing. Most consumers will interact with the physical retail store in some way this holiday, either by shopping in a mall, in an open-air center or picking up curbside or in-store. In comparison, more than three-fourths will order online for home delivery. Consumers will not limit themselves to one channel. Approximately 57% of shoppers will use two or more channels to cross off their holiday lists.
4. Shoppers give fun this season. Three of the top 5 gift categories on shoppers’ lists have a fun, interactive element – toys, games and electronics. Rounding out the top five are clothing and gift cards. Movie-themed kids’ merchandise like Super Mario Bros. and Barbie are also big this season. Consumers, especially high-income earners, plan to pick up at least one gift for themselves.
5. Deals are always going to matter. Most shoppers will look for creative ways to save money – taking advantage of sales and deal days, buying less expensive gifts and shopping for fewer people. This is especially true of modest earners (earning less than $50,000). Shoppers with lowerthan- average budgets have more plans to buy used or cheaper products or will re-gift.
Some other highlights from JLL holiday survey:
• Over 90% of holiday shoppers will indulge this year in at least one holiday experience, like eating out or visiting an entertainment venue. Great news for metro Phoenix, as we are home to – and are rapidly adding even more of – the nation’s hottest restaurant and entertainment venues!
• Shoppers plan to spend a healthy $958 per person this holiday season – 22.8% of which will be used for holiday entertainment and experiences.
• On average, shoppers will spend $218 on entertainment and holiday-related experiences.
• 65.5% will dine out at a restaurant and 43.7% will go to the movies (almost twice as much as last year).
• 49.6% of primarily Gen Z shoppers will shop in malls compared to the 40.8% average.
• With the rise in experience spending, consumers’ overall holiday budgets exceed 2022.
• Amazon, Walmart and Target rank as the Top 3 retailers at which consumers plan to shop (with movie-themed toys topping their gift lists).