Fiscal Cliff Won't Stop Holiday Shopping
CREDIT: Holiday Shopping Image via Shutterstock
American's may worry about the approaching fiscal cliff, but it's not affecting their holiday shopping plans. In a new survey, 83 percent of Americans say they are concerned about the fiscal cliff, but 50 percent of those respondents say it is not changing their holiday shopping.
Just 30 percent of respondents say that they will buy less as a result of the fiscal cliff, while 17 percent say they have no concerns about the fiscal cliff. In the face of an unknown economic future, 40 percent of Americans say they think that the economy is getting better, compared to 31 percent who feel that the economy is worsening.
Overall, most consumers say that they will most likely shop for gifts sometime between Dec. 11 and Christmas Day. Fifty-four percent of buyers say they will shop in that time span, while 37 percent say they got holiday gifts before Thanksgiving. Although Cyber Monday and Black Friday broke records for shopping, slightly more than 20 percent of shoppers say that they shopped on those days.
"Over 80 percent of American's have concerns about the fiscal cliff, and 50 percent of them are planning to shop between now and Christmas. It is imperative that they have a great shopping experience this year," said Tom Lounibos, CEO of web and mobile analytics company SOASTA, which conducted the research.
Consumers also say they are shopping online more frequently this holiday season. Fifty-five percent say they made holiday purchases online, while 46 percent say they bought holiday gifts in a brick and mortar store.
"With a majority of Americans shopping online for the holidays, it's more important than ever for websites and apps to work effectively," Lounibos said.
The research was based on the responses of 2,893 Americans.