Los Angeles, Calif., Nov. 25, 2008 — PriceGrabber.com®, a part of Experian, explores the impact of a tough economy on holiday shopping in its latest Consumer Behavior Report. Results are based on a survey of 2,641 online consumers conducted from Oct. 24, 2008, to Nov. 10, 2008.
Shoppers flock to the Internet
The state of the economy is a key influence on consumer shopping habits. Sixty-one percent of consumers expect to make a concerted effort to cut back this holiday season. Ninety-seven percent of survey respondents expect to do some purchasing online this holiday season. Fifty-five percent intend to purchase more than half of their holiday gifts online this year, a 10 percent increase from last year. Thirty-seven percent say that online shopping appeals to them because it is “easier to compare products and find the lowest price.” Twenty-four percent prefer the “convenience of shopping anytime and anywhere.”
Techniques to save
Purchasing online is not the only strategy consumers intend to use to cut costs this year. Fifty-three percent revealed that they plan to “stick to a budget in order to control impulse buying.” Forty-three percent intend to “shop at discount or outlet malls,” 37 percent expect to “use comparison shopping Web sites,” and 35 percent anticipate that they will “only purchase items on sale.” Sixty-six percent of consumers also plan to pass the savings along to recipients on their list by giving mostly practical gifts this year, like money and gift cards for necessities.
Budget living as a way of life
While 38 percent of consumers are concentrating their money-saving efforts on shopping, they also are planning to scale back in other areas. When it comes to saving money on food, 44 percent of survey respondents plan to eat out less, 17 percent intend to use coupons for groceries/restaurants, and 14 percent expect to make grocery lists to control impulse buying. In order to cut costs on gas and travel, 32 percent of consumers plan to travel less this holiday season, 31 percent intend to run all their errands in one trip, and 21 percent expect to drive less to work or to the store through the use of carpools or public transportation.
PriceGrabber.com will continue to track the effects of the economy on shopping trends in the coming months. To view the full Consumer Behavior Report, which also includes more results from the Holiday Forecast survey (including shopper demographics and gift card trends), please visit http://mr.pricegrabber.com.
PriceGrabber.com, part of Experian InteractiveSM, has established itself as one of the most trusted and effective online comparison shopping services, allowing approximately 26 million consumers each month to search and compare information that enables them to find the right product from the right retailer at the best price. Through continued innovation and a consistent focus on providing the best comparison shopping experience on the Internet, PriceGrabber.com provides savvy shoppers access to millions of unique products and services from thousands of retailers and sellers in 25 product channels. The company also powers comparison shopping functionality for a network of leading Internet sites, including MSN Shopping, AOL Shopping, About.com, iVillage, Comcast and CNET. The company offers comparison shopping in English (at http://www.pricegrabber.com), Spanish (at http://www.preciomania.com) and Portuguese (at http://www.precomania.com) as well as international sites in Canada and the United Kingdom.
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