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Last Minute Holiday Shoppers: Gluttons for Punishment or Savvy Spenders?
Survey Finds Consumers Still Have More Than Half of Their Holiday Shopping To Do
Boston – December 18, 2006 – Compete, Inc. today announced findings from its new Holiday Trends 2006 study, which revealed that shoppers who have yet to finish their holiday shopping are not alone. With less than 12 shopping days to go before Christmas, Compete’s study found that 83% of consumers surveyed have yet to complete their holiday shopping in part because they lack the time to do so. Compete’s findings point to a number of reasons why consumers are holding off on wrapping up their gift buying, including lack of time, funds, and because the last minute shopping dash can be fun.
Compete surveyed consumers from its database of over two million U.S. consumers on the weekend of December 9th to assess the habits of “last-minute” shoppers and the factors that caused the delay in their 2006 holiday gift buying. According to this survey, shoppers will complete 19% of their gift purchases the week of December 18-22. Shoppers that do wait until the week before Christmas to check off their gift list want discounts, with 60% reporting that they are waiting for last minute deals. Additionally, 14% of last-minute shoppers reported that they’re in it for the thrill, holding off because they find last minute shopping more enjoyable. With the rise in online spending, savvy consumers can head online to make fast, easy decisions allowing them the flexibility to shop from home, easily search and compare prices and ship anywhere in the world. In the Holiday Trends 2006 study, Compete found that about one third of consumers will do more than half of their shopping online using the Internet this season.
“Clearly, for many shoppers, the convenience of online shopping has resulted in reduced stress around buying – why rush when online sites and retailers make it so easy to shop right up until the last minute?” said Cynthia Stephens, director of marketing at Compete, Inc. “Online retailers have a great opportunity to make shopper procrastination work for them by offering benefits that are particularly appealing to last-minute shoppers, such as guaranteed Christmas delivery or online-only sales.”
Other key findings are:
- Survey respondents have yet to do 54% of their holiday shopping, and plan on doing about one quarter of that shopping the week before Christmas
- 8% of respondents said that they plan to leave a gift for their spouse until the last minute. Only 22% plan to leave a gift for their mother until the last minute
- 78% of respondents have delayed shopping because they can’t find appropriate gifts
- 14% delay shopping because they enjoy doing so at the last minute
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About Compete
Compete, Inc. is the only online market research firm that creates value for both consumers and marketers. Compete’s research is powered by millions of people who share their online behavior to create a more trusted, transparent, and valuable Internet. Consumers use Compete to stay safe when they surf, save when they buy, and discover the best new websites. Leading companies turn to Compete to understand how these consumers consider, buy and engage with their own and rival brands. Carlson Hotels Worldwide, Hyundai Motor America, Upromise, Verizon Wireless, DaimlerChrysler and other innovative companies rely on Compete’s real-time insights to improve the return on their marketing investments.
Compete is headquartered in Boston, Massachusetts, with offices throughout the US. For more information, please visit http://www.competeinc.com.