USFIA’s Premier Partner PwC's U.S. 2020 Holiday Outlook: October edition is now available. In the report, PwC shares their analysis of shopping trends for U.S. consumers this holiday season based on a national survey of more than 1,000 consumers. So, what does the outlook look like in the midst of COVID-19? Consumers are understandably restrained about holiday shopping this year in the wake of converging public-health and economic crises that will last the better part of 2020.
While 55% of consumers will spend the same or more than they did last year, a sizable proportion (40%) will spend less. More than half (55%) said COVID-19 tops their list of concerns about holiday shopping. Wary of in-store shopping, 61% of consumers surveyed said they will do the majority of their holiday shopping online. Consumers will visit fewer stores than usual this holiday season and will seek out those that offer contactless payment in an effort to minimize any health risk.
Be sure to check out the full report below to learn more about what consumers are thinking about this holiday season, including what drives their purchasing decisions, the types of gifts they will buy, and more.