Despite a flailing economy and record unemployment, the majority of U.S. consumers plan on spending just as much — or more — than last year on holiday purchases, according to the 2020 Holiday Shopping & Shipping Consumer Confidence Survey.
The survey of 1,200 U.S. consumers found that 42% expect to spend the same amount on gifts as last year, with 19% expecting to spend more. Shoppers will turn to ecommerce heavily this year, with only 27% of consumers planning to shop in-store. Additionally, many Americans are tackling holiday shopping earlier than usual to avoid shipping delays and out-of-stock items, with 31% reporting that they’ve already started shopping and another 31% planning to start in November.
Learn more about consumers’ holiday shopping behavior in this infographic from Loqate, a GBG solution.