Majority of Americans Expect to Buy Gifts This Holiday Season Despite Tumultuous Year, but Many Cut From the Gift List Accord...
Pets More Likely To Receive Holiday Gift Over Grandparents for
2020 Holiday Gift Giving
This holiday shopping season is shaping up to be like no other.
Retailers are offering sales and deals earlier than ever before.
According to a recent survey of 1,600 adults conducted by
Forethought Research on behalf of digital payment technology
pioneer Quadpay, a Zip company, 95 percent of Americans are still
planning to shop for the holidays but some unlikely folks will be
left off the 2020 gift list.
This press release features multimedia. View
the full release here:
While a majority of Americans plan to buy
gifts this holiday season, 35 percent are looking to maximize their
spend this holiday season with buy now, pay later services
Overall, all Americans are less likely
to receive gifts this year. Parents, friends and siblings are
missing out the most.
When asked “who do you typically give gifts to?” Americans are
- Nearly twice the gifts will be bought for pets (21 percent)
over grandparents (13 percent) this year.
- Only 28 percent reported they are likely to give gifts to
friends down from 49 percent in a typical year.
- 49 percent say they’d buy gifts for mom and dad compared to 63
percent last year.
- Gifts for siblings plummeted from 52 percent in prior years to
37 percent this year.
- Kids, down 7 points to 39 percent, and partners (down to 42
percent from 48 percent) can still expect gifts.
When and where Americans shop depends a
lot on their age.
- Americans are split almost exactly in half regarding shopping
online or in-store.
- Gen Z is more likely than any other generation to start their
holiday shopping as early as September. The older the generation,
the later they begin.
- Millennials, Gen Xers, and Baby Boomers tend to wait until the
last minute and don’t start shopping until November.
- Gen Y is least likely to start shopping in the month of
What they’re buying, and how they’re
paying for it
- 1 in 4 will give more gifts in the form of money this holiday
season, potentially due to flexibility and ease for others.
- Gift cards were the most popular category when asked what they
plan to buy this holiday season (43 percent of respondents)
followed by: technology and electronics gifts (38 percent), music,
movies, and games (34 percent), toys (34 percent), food and
beverages (33 percent) and men’s clothing (33 percent).
- 35% are considering using a Buy Now, Pay Later (BNPL) option
for the holidays. Of these, 28 percent said they are looking to use
BNPL to avoid credit card fees.
Quadpay’s mission is to provide savvy consumers a digital
alternative to credit cards. The findings from the survey
underscore the fact that pandemic-weary consumers are
understandably budget-conscious but still want to celebrate the
“While this survey shows that COVID-19 hasn’t completely
canceled the holiday season, consumers are reprioritizing not only
how much they spend and who they buy for but also rethinking how
they pay,” said Quadpay Co-CEO Adam Ezra. “Retailers should take
note that a growing number of consumers are looking for ways to
maximize their spending power without incurring credit card
“The sentiment around holiday shopping corresponds with the
trajectory of the explosive growth of BNPL as an option this year.
Consumers are looking forward to treating their loved ones--and
themselves--after a tough year, and Quadpay allows them to do that
in a budget-conscious, financially responsible way,” said Quadpay
Vice President of Marketing, Shira Schwartz.
Forethought Research fielded the survey on behalf of Quadpay
from October 21 to October 28, 2020 via an online survey
interviewing a nationwide sample of 1,600 U.S. adults aged 18 to 65
years. Data were weighted to be representative of the total U.S.
adult population on the basis of age, gender, state and household
income. No estimates of theoretical sampling error can be
calculated. For full data reports contact email@example.com
Quadpay Press Kit with more information and visuals here.
Quadpay (ASX: Z1P) is a leading US-based installment payment
platform, providing consumers with a simple, transparent, and
financially responsible alternative to traditional credit. Quadpay
is reinventing the payments landscape with its focus on innovation
and customer-centricity, enabling more than millions of customers
to pay in four interest-free installments over six weeks. The
company’s market-leading app enables seamless integration for
merchants and the ability for customers to shop online and in-store
interest-free, not just with Quadpay’s thousands of integrated
merchants, but with leading global retailers. For more information,
ABOUT Forethought Research
Backed by comprehensive research methodologies, marketing
science consultancy, Forethought works closely with clients to
guide their brand, communications and customer experience
strategies. Using evidence-based insights, their process delivers
tailored and actionable guidance to inform organisational growth
and strategic management decisions. Whether it’s an increase in
market share or shaping consumers’ brand perception and engagement,
Forethought Research aims to find solutions for any business
version on businesswire.com: https://www.businesswire.com/news/home/20201125005455/en/
Angela Nibbs firstname.lastname@example.org
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