Results for - Holiday Shopping Will Be Different This Year Due To Coronavirus
3,236 voters participated in this survey
It’s safe to say the 2020 holiday season will be a completely different experience. Many Americans will skip their annual trip home to visit family as a precaution against COVID-19, while others will be hoping for the Christmas miracle of a full-time job.
There will be big changes to the retail landscape, too. Whether you’re planning a scaled-back holiday or expect to celebrate the same as always, here’s what you should know about shopping and saving money through the end of the year.
1. Three-quarters of Americans plan to shop online this year, according to the RetailMeNot survey. More than 88% said they will not shop the traditional in-store doorbuster deals on Thanksgiving. Are you planning on doing most of your holiday shopping online?
2. Though clothing and shoes will be popular buys, people will spend less than usual on these categories when it comes to gifts for others, according to analysis by cash-back company Rakuten. Rather than traditional gifts this year, "shoppers will look for items or experiences that bring them closer to family and friends," said Dana Marineau, chief marketing officer and consumer and money-saving expert at Rakuten Rewards. She predicts that items such as tablets for video chatting, gaming consoles and games, streaming subscriptions and future trips will be most popular.Are you planning on buying any of these as gifts?
3. Unlike previous years, Marineau said, you can expect to find heavy discounts on nearly every product category, not just electronics and housewares. "There is a ton of excess apparel inventory that retailers need to move through, as well as shoes and accessories," she explained. "It's a great opportunity to pick up some 'for me' items while shopping for gifts for others." Have you noticed more discounts on clothing/shoes recently?
4. According to Pastorek, there's already been an upward trend this year in the use of "buy now, pay later" financing options such as Affirm, Afterpay and Klarna. These services allow shoppers to break down purchases into weekly or monthly installments, often with no interest, rather than pay for their carts in full. Are you planning on using a buy now pay later option when holiday shopping?