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Survey: Consumers to Spend Less, Use Cash for Holiday Gifts

Triton Digital says responses from local media consumers provide insight into retail behavior

Holiday shoppers plan to spend less this year than last on gifts. They’ll look for online deals and travel less.

That’s according to a new survey from Triton Digital.

The company polled 47,000 consumers earlier this month and found the shaky economy has had an impact on holiday shopping plans.

“It’s clear that consumers are looking for deals this holiday season, through both traditional means like in-store Black Friday shopping and new channels like daily deal sites,” stated Chris Bell, president of Triton Digital Applications and Services.

He said there’s a big opportunity for brands and media companies to offer incentives, deals and rewards for loyalty to capitalize on this consumer trend.

Some specific findings:

  • 61.5% plan to spend less than last year on holiday gifts
  • 52% plan to use cash to pay for gifts
  • 16.3% do not plan to give gifts this holiday season
  • 14.5% plan to use “layaway” for their holiday shopping to spread out payments

Consumers are looking for deals this holiday season. The survey found that:

  • 34.3% plan to shop on Black Friday to find deals
  • 22% plan to check daily deal sites for discounts

Other interesting findings from the survey include:

  • 9.8% plan to do their holiday shopping exclusively online
  • 51.6% plan to give to charity
  • -26.1% plan to purchase gift cards
  • Just 7.4% plan on travelling this holiday season (most will stay home with immediate family)

Triton Digital is a service provider to traditional and online radio. It says this is the first of many surveys to come to examine consumer perceptions, attitudes, and behaviors.

Full survey results