Circana: 2024 U.S. Holiday Purchase Intentions Report

U.S. consumers’ plans for the 2024 holiday season are based on a mix of optimism and realism.

Consumer sentiment and intentions related to the 2024 holiday shopping season have improved compared to the past two years.

Most shoppers plan to spend about the same as last year, but an increasing number plan to spend more. The average planned holiday spend is 2% higher than last year.

Key holiday drivers such as apparel, technology and toys regained their chances of holiday sales growth, with increased purchase intent for beauty, footwear and luggage.

More people are planning to give experiential gifts, such as food and beverage experiences, event tickets or spa treatments, than in the past three years.

This year, more consumers are planning to gather with family and friends, and fewer are planning to enjoy holiday meals in their own homes.

One particularly positive sign for holiday retail is that more consumers plan to give gifts than they did last year, though still fewer than two years ago.

Consumers still plan to do more of their holiday shopping online, but more people plan to shop in physical stores than in past years.

Financial problems and other disruptions remain, keeping expectations below 2021 levels.

With fast-moving trends appearing and disappearing just as quickly, consumers are in no rush to buy. They are willing to wait for sales, as evidenced by the increase in people planning to start shopping during the Thanksgiving/Black Friday/Cyber ​​Week sales.

Convenience and value are paramount. Most consumers prefer to shop for gifts online as much as possible, and they compare prices online before heading to a store to buy.

While of great value, free shipping remains the biggest influencer on consumers’ purchases this holiday season as minimum shipping thresholds increase.

Social media plays a big role in holiday shopping: 76% of holiday shoppers say a product review video is likely to influence their purchase.

Food and grocery costs will have an impact on holiday shopping, but consumers are adjusting, with two-thirds of consumers changing their shopping habits to save money.

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