Survey Shows Shoppers More Tight-Fisted This Holiday Season

According to a survey conducted by Triton Digital, this year’s holiday season shoppers are searching for deep price cuts on their purchases and are planning on spending less this year than in other years. They are striving to avoid the use of their credit cards, too.

Spending Less and Using Cash

The survey questioned over 47,000 consumers from North America during the month of November. The results showed that 61.5 percent are planning to spend less than they did last year on gifts, while 16.3 percent said that they are not planning on giving gifts at all this year.

Fifty-two percent of those interviewed also said that they are planning on using cash exclusively to pay for the gifts they buy, while 14.5 percent are going to use a “layaway” plan in order to spread out the cost of their purchases over time.

Bargain Hunters on the Prowl

The quest for a good deal is also taking on a more important part of the shopping experience, with 34.3 percent planning to go shopping on Black Friday. Twenty-two percent are planning to check for discounts and special deals in order to pay less.

Despite the difficult times, about 51.6 percent of consumers are still planning on giving to charities, while 9.8 percent said they will be making all their holiday purchases on-line.  Gift cards will be bought by about 26.1 percent of consumers, according to the survey.

Staying Home, Too

The Triton survey also asked if consumers are planning on taking a vacation, or traveling this holiday season. Only 7.4 percent answered in the affirmative, the vast majority saying that they are planning on staying home with their immediate families instead.

“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,” said Chris Bell, president of Triton Digital Applications and Services. “There is a huge opportunity here for brands and media companies to offer incentives, deals and rewards for loyalty to capitalize on this consumer trend.”

About James Cannon

James Cannon is an experienced hedge fund analyst. He has served on the advisory boards for various different Fortune 500 companies as well as serving as an adjunct professor of finance. James Cannon has written for a variety of Financial Magazines both on and off line. Contact James at james[at]