RetailMeNot, a leading digital offers destination that helps consumers save money, today released the 2014 Holiday Shopping Retrospective and 2015 Outlook edition of its Shoppers Trend Report reviewing 2014 spending and shopping behaviors, holiday promotional activity, how consumers plan to shop in the coming year and what they expect from retailers. This latest Shoppers Trend Report, which includes data from surveys conducted in December 2014 and January 2015 in conjunction with The Omnibus Company (www.omnibus.com), finds a highly promotional 2014 holiday shopping season may have contributed to consumers buying more than their budgets could handle.
Nearly 4 in 10 (38%) consumers surveyed carried over debt from their 2014 winter holiday gift purchases into 2015, with an average remaining balance of $790. Despite this holiday spending hangover, consumers surveyed are confident that they will save more money (63%), make more money (63%) and be able to afford everything they need (61%) in 2015.
"According to the survey, 29% of consumers felt retailers offered more sale days last year than in previous years," says Trae Bodge, senior lifestyle editor for The Real Deal by RetailMeNot. "Given more opportunities to shop smart, the 2015 consumer's appetite for savings has been whetted and retailers need to align their promotional calendars to meet these expectations."
Additional highlights from survey include:
Overspending was common in 2014, with more than 4 in 5 (83%) consumers surveyed saying they spent more than they expected
More than 2 in 3 consumers (67%) shopped on Thanksgiving Day, Black Friday or Cyber Monday in 2014, an increase from just over half (58%) who did the same in 2013
Among Black Friday shoppers who took to the stores in both 2014 and 2013, more than half (51%) felt the crowds were smaller this past year and the deals were worse (34%) than the previous year
Promotions demand remains high, as nearly 2 in 3 (64%) consumers surveyed want retailers to offer more discounts in 2015 than they did in 2014
