Make your list and check it twice, because the holiday shopping season is upon us. Leading appliances and electronics retailer hhgregg (NYSE: HGG) launched its second annual holiday shopping survey1 to uncover the truth about all of our holiday spending habits. The results are in, and it looks like this year more Americans are eager to sample those sales, as 51 percent said they love to experience the excitement around Black Friday sales, up from 45 percent last year. Millennials are particularly fond of Black Friday, with more than two-thirds saying it gives them a rush while only 40 percent of Millennials said so last year.2 It doesn’t end with Black Friday either: Thirty-seven percent of Americans, and 58 percent of Millennials, say they get no work done on Cyber Monday because they spend all day online shopping.
“The holiday season is an exciting time for so many of us. This survey gives us a chance to see, heading into our busiest time of the year, how folks intend to go about their shopping,” said Dennis May, CEO of hhgregg. “We’re excited to see what their game plan is going in, who’s buying what for whom and what shopping tendencies may have emerged since last year.”
Among the survey findings:
When it comes to holiday shopping, it’s all about having a plan.
- The majority of Americans (70 percent) begin planning their shopping list at least one month before the holiday, and women (79 percent) are significantly more likely than men (61 percent) to begin planning their shopping list at least one month in advance.
- Nearly eight in 10 (79 percent) Millennials say they create a holiday wish list, compared to 57 percent of Generation Xers and 38 percent of Baby Boomers.
- When shopping for holiday gifts for others, 62 percent of shoppers prefer keeping their lists on paper rather than electronically (38 percent).
Black Friday more embraced this year than last.
- This year, shoppers are less likely to find Black Friday frustrating and overwhelming, with only 55 percent of people saying they feel this way compared to last year’s 73 percent.
- Millennials (72 percent) are significantly more likely to say they will shop on Black Friday than Generation Xers (59 percent) or Boomers (43 percent).
- Nearly 3 in 4 (73 percent) Americans who plan to shop on Black Friday will create a specific plan for their shopping.
- Millennials are the most likely to say they will create a specific plan for Black Friday shopping at 79 percent.
- Among holiday shopping pet peeves, waiting in long lines is the most commonly cited grievance (74 percent), followed by trying to find parking (62 percent).
It’s better to give (and apparently re-give) than to receive.
- More than eight in ten (81 percent) of people would rather give a gift than receive a gift.
- Americans expect to spend more money than their significant other when buying holiday gifts for one another. On average, they say that they will spend $787, while they expect their partner to spend $349.
- 27 percent of people say that their significant other is the hardest person on their list to shop for.
- As for what to give, a 4K ultra HD TV (34 percent) was the highest scoring gift in the survey, beating out a tablet or laptop (29 percent), a new appliance (14 percent), a fitbit/smartwatch/wearable (9 percent) or a new cell phone (9 percent).
- When it comes to bad gift-givers, siblings were named as the worst (21 percent), with in-laws right behind at 20 percent.
- The celebrity whose wish list items Americans would most want to receive was Jennifer Lawrence (26 percent), nudging outLeBron James (20 percent) and Beyonce (19 percent).
- More than half (53 percent) of Americans have re-gifted a gift, but only 11 percent of people say they have been caught.
- With Millennials that re-gifting number nudges a bit higher, to 60 percent.
To see more consumer survey results and for details on hhgregg’s hottest holiday gift ideas, visit hhgregg.com. You can also follow hhgregg on Twitter at @hhgregg or Facebook at facebook.com/hhgregg for the latest on Thanksgiving and Black Friday deals.
ABOUT hhgregg –
Founded in 1955, Indianapolis-based hhgregg is a multi-regional retailer with 227 brick-and-mortar stores in 20 states. hhgregg’s product assortment includes market-leading brands in home appliances, consumer electronics and technology for the home. The retailer’s online presence (hhgregg.com) and mobile apps (iOS, Android) give consumers nationwide access to global and local lifestyle home products. Find hhgregg on Facebook at facebook.com/hhgregg and on Twitter at @hhgregg.