Posted by Alex Jackson on October 26, 2018
Just four weeks left until the big day, Black Friday and the official start of the holiday season. If you’re under the impression that Black Friday is mostly about the new tech toys and that your average consumers will be taking a break from their normal spending habits, then you may be surprised that the data does not back this theory up. NPD Group a leading market research company did a study last year on consumers holiday spending habits and found that 19% percent of respondents reported that they would definitely spend more money on themselves in the 2017 holiday season than in previous years with another 40% at least considering it. That’s nearly 60% of your average consumers planning on or seriously considering putting gifts in their holiday stockings labeled from me to me.
So what is this odd phenomenon about? Aren’t the holidays about giving to others? Well yes, of course, but there’s no law about not getting yourself something nice. This trend seems to be growing and its closely linked to consumer confidence and a healthy economy. It stands to reason; a good economy means a confident consumer who is not likely to think twice about whipping out the credit card for gifts for the family and maybe a little something extra for themselves. The holidays awaken the inner shopper in almost everyone, and it’s very easy for your average consumer to veer slightly off course and start shopping for themselves. So what are these self-gifters shopping for? Mostly for what you might expect during the winter months seasonal apparel, accessories, footwear, home goods, in short everything they usually shop for and may not expect to receive as a gift during the holiday season. The big takeaway here is that consumers regular spending habits are not changing for the holidays. If you’re expecting to see a slowdown in sales just because what you specialize in selling is not considered a traditional holiday gift then think again the holidays are all about giving, but a good portion of that gift giving is now self-gifting.
This article is no surprise, year after year we are beating on the drums to let all sellers know that they need to stock up early. It takes time to receive your order, to process it and create listings online. Do not procrastinate, order now while inventory is available and you will have plenty of time to get ready for the Holidays. Please do not procrastinate and place your order in December, by that time you have missed the bulk of Holiday shopping! Consistency and planning will make you a successful seller.