The survey was conducted in October as part of the Consumer Confidence Survey
The Conference Board has found that consumers are entering this holiday season intending to spend about $673. That is on par with last year’s spending estimate of $675.
In addition, the continued inclination to stay at home will bode well for e-commerce. For instance, 52% of consumers say they plan to make at least half of their purchases online, compared with 42% in 2019.
The report has found that consumers are expecting to purchase fewer gifts at a discount this year. In fact, just 30% say they expect, at a minimum, to purchase half their gifts at a discount, down from 35% last year.
We’ve reported that 80% of female respondents have no idea what they intend to buy or want to receive themselves just 8 weeks before the holiday shopping season begins.