Stat: Survey gauges consumer mindsets this holiday season

UK, US – Businesses and consumers alike are still feeling the squeeze of the cost of living crisis. After surveying 4,000 consumers across the UK and the US, market research company Zappi found that consumers will shop earlier and smarter to make the most of holiday shopping on a budget.

This year, more than half (55%) of Britons believe their Christmas will be affected by the need to tighten the purse strings. When it comes to shopping intentions, 46% of consumers unsurprisingly plan to spend less on gifts than last year. Smaller budgets mean consumers plan to shop smarter – seeking deals and promotions (38%) and purchasing gifts earlier than in previous years (21%).

Despite a cautious approach to spending, the majority (61%) of consumers are still excited by the holiday period. When it comes to brand activations, Britons prefer Christmas advertisements featuring acts of kindness (47%), togetherness (45%) and festivity (44%) this year. For businesses, these findings are key to prepare and adjust holiday communications in the face of the cost of living crisis.