Shoppers are expected to spend $1,496 per household this holiday season, with food and beverage ranking among the top items for purchase, according to Deloitte’s 34th annual holiday survey of consumer spending intentions and trends.
According to the report, 43% of consumers plan to purchase food and beverage for themselves, outpacing all other retail categories including clothing (39%) and shoes (28%). Additionally, 25% of customers plan to shop for gifts at supermarkets or grocery stores during the holiday season, up from 14% five years ago. These numbers are good news for grocery.
Other key takeaways from the report include:
- The top 20% of spenders account for 60% of total dollars people plan to spend during the holiday season.
- The bulk of holiday spending ($596) will go to experiences and celebrations — including entertaining at home, socializing away from home, travel and restaurants.
- Consumers of all age groups are likely to rely more on Cyber Monday than Black Friday.
- People surveyed expect to spend 59% of their holiday budget online, compared with 36% in-store.
- Promotions will influence 81% of consumers this holiday season.