Sitecore, the global leader in digital experience management software, today released its Holiday Shopping Trends 2021 report exploring how consumers worldwide intend to celebrate, indulge and recuperate this holiday season. Irish consumers are eager to resume their normal lives and make up for last year’s COVID-controlled holiday, with 75% of those age 25-34 saying they are ready to embrace pre-pandemic shopping, travel and holiday experiences. More than half (54%) of consumers surveyed plan to make bigger and more mindful holiday purchases this year, fuelled in part by the fact that 50% of consumers say they have more savings set aside for the holidays this year compared to last year.
Sitecore’s Holiday Shopping Trends 2021 report surfaces insights from consumers around holiday shopping, gift giving, spending, and sentiment. The data arms marketers in categories like retail, travel, automotive, and others with the intelligence they need to deliver winning experiences that satisfy the evolving tastes and demands of consumers.
- Shift in Perspective:
o 68% of consumers would prefer experience gifts to “more stuff”
o 53% of consumers are now planning “the trip of a lifetime”
o 55% of consumers under the age of 44 said they are now more spontaneous, more social, and enjoying life more
- Young consumers bringing spending back:
o 72% of Gen Z and 66% of Millennials are more willing to make big life enhancements post-pandemic
o 60% of Gen Z will spend more this year; with 64% of 55 – 65 year olds and 65% of those over the age of 65 spending about the same as last year
o 79% of those under the age of 44 stated that following their experiences during the pandemic they now “value travel and appreciate other cultures more”
- Retailers failing Black and minority-owned businesses:
o 65% of consumers believe it is essential that retailers offer more products from Black/minority-owned businesses, but only 17% report seeing more Black/minority-owned products when shopping
- Buying local and being mindful with purchases is a priority for most:
o 67% of consumers are willing to pay more for locally made gifts
o 66% of consumers are annoyed when they find a purchase was made in China, when they thought it was a local purchase
o 78% of consumers stated that the pandemic has made them think more carefully about how they spend their money
- Self-care now includes self-gifting:
o 51% of those buying a gift for themselves cite “therapy” as the main reason
o 16% of consumers plan to emerge from the pandemic with a new wardrobe
o 22% of consumers will gift themselves travel this year
“Consumers in Ireland are very clearly ready to move on from the pandemic and are looking at Holiday 2021 as the beginning of the rest of their lives,” said Sitecore CMO Paige O’Neill. “Our research shows pent-up demand and more savings than usual will result in younger consumers splurging on self-care and big-ticket items at the register, which is great news for those in retail, travel and hospitality. It’s also heartening to see that all types of consumers want to support their local community, including Black and minority-owned businesses. The industry will need to respond with more offerings from these businesses.”