Retail Midwest

JLL survey: Shoppers ready to spend this holiday season

JLL survey: Shoppers ready to spend this holiday season,ph01

Consumers are ready to spend this holiday shopping season, which is good news for retailers. JLL surveyed holiday shoppers this October and found that 44.4 percent of these consumers plan to spend more than $500 on gifts this year.

Last year, that figure stood at 44.1 percent. That might not seem like a big difference, but every bit helps, and it seems as if retailers can look forward to a busy holiday shopping season this year, according to JLL’s research.

Men in particular are ready to spend. JLL found that 30.6 percent of men say they will spend more than $750 on gifts. The company found that 26 percent of women said they will do the same.

Where will these consumers shop? JLL reported that a little less than half of holiday shoppers will do most of their buying gonline. But many of these same shoppers will spend at physical retailers, too. The rest of the survey’s respondents told JLL that they will primarily shop at physical retailers.

The survey found that 26.8 percent of holiday shoppers will make discounters such as Walmart or Target their primary buying destination this year.

Amazon, though, tops the list of detinations, with 22.1 percent of survey respondents saying they will shop at Amazon this holiday season. Coming in second was Walmart, where 15.8 percent of respondents said they will shop, followed by Target (12.3 percent), Macy’s (4.3 percent) and Best Buy (4.1 percent).

An interesting finding related to income. JLL found that consumers who earned more planned to start their holiday shopping earlier. According to the survey, 37 percent of shoppers earning more than $75,000 planned to start buying before Thanksgiving. Another 28.1 percent of this group said they’d start shopping between Thanksgiving and Cyber Monday. Only 13.7 percent of consumers with higher incomes said they’d start shopping within two weeks of Christmas.

The survey found, though, that consumers earning less than $25,000 planned to start their holiday shopping later in the season. More than 30 percent told JLL that they would start buying gifts within two weeks of Christmas while 26.8 percent said they would start during Thanksgiving weekend.