What Are Luxury Buyers Planning to Buy This Holiday Season?
This brief focuses on the upcoming 2015 holiday shopping season, with a special look at consumers who are planning to buy luxury items or services as gifts during the remainder of 2015. Based on the Shullman Pulse conducted in August 2015, this brief addresses the following questions about planned holiday shopping:
- When will consumers start to shop for the holidays (which include Hanukkah, Christmas, Kwanzaa, and other celebrations)?
- Who are those shoppers?
- What will they buy?
- Where will they shop?
- How much will they spend?
- How much of their spending will be done online?
Shopping prospects for the upcoming 2015 holiday season appear to be strong, especially among those planning to buy luxury goods and services as gifts. Indeed, about a quarter of luxury buyers this holiday season have already started their shopping, and many others plan to start before Thanksgiving. As for what’s on their shopping lists, almost half are choosing gift cards, while personal electronics, toys, jewelry, and other goods also score highly. There’s equally good news for luxury retailers, as about half of planned luxury buyers will be making purchases at either luxury department or luxury specialty stores, despite the ongoing popularity among luxury shoppers of using online-only stores.
Regarding where advertising registers the most recall among luxury buyers, holiday shoppers report that television remains the favorite, while websites and publications also register highly.
Putting them all together, it looks as though it should be a bright 2015 holiday season… and it’s previewed here right now.