For those of you who haven't started with Christmas shopping, be glad to know that you are not alone, as stated in the Holiday Spending Forecast.
According to this infographic, 38% of people have already started their holiday shopping. That may not come as a shock, as the Holiday season is the time you find your bank account losing huge sums of money. Seventy-five percent plan on buying electronics, and the rest on toys, clothes, gift cards and books. What did get me was that 75% of people use Facebook to come up with their perfect gift for friends and families.
Now hold on to your seats as the most shocking fact is that this holiday season 31% of the people surveyed plan on spending more than $700. That's what the Holiday does to your savings.
Christmas Shopping Woe Charts
The Holiday Spending Forecast Will Shock Readers
Trend Themes
1. Online Holiday Shopping - Opportunity for businesses to capitalize on the trend of people preferring to shop online for their holiday gifts.
2. Social Media Influenced Gifts - The rise of using social media platforms like Facebook for gift inspiration presents an opportunity for businesses to create targeted advertising and marketing campaigns.
3. High-end Holiday Spending - Businesses can tap into the trend of consumers willing to spend more than $700 during the holiday season with luxury and high-end products or experiences.
Industry Implications
1. E-commerce - Disruptive innovation opportunities for online retailers to increase their market share during the holiday shopping season.
2. Social Media Marketing - Opportunities for businesses to leverage social media platforms like Facebook to reach potential customers and influence their gift purchasing decisions.
3. Luxury Retail - Opportunity for high-end retailers to attract and cater to consumers with a budget of more than $700 for holiday shopping.