Amex Trendex: Consumers Embracing the Holiday Spirit and Welcoming Back Traditions Put on Hold Last Year
October 28 2021 - 8:00AM
Business Wire
- Nearly half (48%) of consumers surveyed have already started
their holiday shopping
- 61% of employed consumers surveyed agree remote work gives them
the flexibility to avoid busy travel days this year
- Only 17% of consumers surveyed plan to have a ‘hybrid holiday’
that combines live and virtual gatherings
According to the Amex Trendex1, a trend report from American
Express (NYSE:AXP), 61% of US consumers surveyed agree holiday
plans will look different in 2021 and beyond. As new holiday
spending, entertainment, and travel trends emerge, holiday
essentials put on hold by the pandemic will also return: 71% of
consumers surveyed indicate that they will celebrate the holidays
with more family members and loved ones in-person than last year
and 38% of consumers surveyed agree they will spend more on the
holidays this year in anticipation of a more celebratory
season.
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Holiday Spend Trends (Graphic: Business
Wire)
Consumers Plan to Shop Early and Consciously Nearly half
(48%) of consumers surveyed have already started their shopping and
45% started their holiday shopping earlier this year knowing that
retailers may face supply chain issues and shortages. When shopping
for holiday gifts, respondents indicate that it’s important to them
to purchase gifts that support small or local businesses (81%), are
sustainable or minimize their environmental impact (64%), or are
ethically sourced (63%).
- 75% of consumers surveyed agree that shopping in-person at a
small business brings them joy and drives excitement for the
holidays
- 67% of consumers surveyed agree they are looking for offers or
deals through their credit card when shopping for the holidays and
57% agree they plan to use their credit card points for holiday
shopping
- 67% of respondents agree they plan on focusing on their
finances more in 2022 than in previous years
Reconnecting with Loved Ones and Beloved Traditions The
Amex Trendex found that consumers surveyed are most looking forward
to spending time with family and friends (76%) this holiday season
followed by giving and receiving gifts (53%). But there is a
preference for in-person celebrations: 44% of respondents plan to
visit family/friends in person while only 17% of consumers surveyed
plan to have a ‘hybrid holiday’ that combines live and virtual
gatherings.
- Over half of consumers surveyed say they plan to prioritize
their mental health this holiday season by enjoying personal time
(65%), reconnecting with friends/family (56%), or by staying active
(55%)
- 54% of employed respondents plan on getting together in-person
with colleagues to celebrate the holidays
- 48% of consumers surveyed plan to put holiday decorations up
earlier this year to feel more cheerful and 51% of consumers
surveyed indicate that they will put up more holiday decorations
this year to make their space feel more festive since they are
spending more time at home
- Respondents agree it’s important to have holiday decorations
that support small businesses (72%), are sustainable (61%), or are
ethically sourced (56%)
Remote Work Gives Consumers Added Flexibility for Holiday
Travel Nearly half (47%) of consumers surveyed plan to travel
for at least one holiday this season. Remote work is enabling
travel, too, as 6 in 10 employed consumers surveyed (61%) agree it
gives them the flexibility to avoid busy travel days this year and
57% of employed respondents indicate it gives them the flexibility
to extend their travel plans. The “book now, figure it out later”
trend that first emerged this year2 continues as 63% of consumers
surveyed agree that they are willing to book a trip even if they
might have to cancel it.
- Nearly half of consumers surveyed (49%) plan to travel on or
before the Tuesday prior to Thanksgiving (November 23, 2021)
compared to just 29% who plan to travel on Thanksgiving Day
(November 25, 2021)
- 77% of consumers surveyed would prefer to take a vacation with
their significant other rather than exchange gifts
- 52% of consumers surveyed plan to use credit card points for
holiday travel
- 79% of consumers surveyed like to shop at small businesses when
traveling to support the local community and 63% like to buy
holiday gifts from the destination they are visiting
- 58% of respondents have saved more money for travel in 2022 due
to the pandemic and 55% of respondents plan to take one to three
trips in 2022
- 52% of consumers surveyed agree that one of their New Year's
Resolutions will be to take more vacation time in 2022 than they
did in 2021
What is the Amex Trendex? The Amex Trendex is a trend
index that tracks how consumers, small businesses, and merchants
are feeling about spending, saving, traveling and more. Data is
sourced on a monthly basis in the United States and biannually
globally, including in the United Kingdom, Australia, Japan,
Mexico, India, and Canada.
Methodology 1 This Morning Consult poll was conducted
between October 5-8th, 2021 among a national sample of 2,000
general population travelers with a household income of at least
$70K and defined as adults who traveled by air at least once in
2019. Results from the survey have a margin of error of plus or
minus 2 percentage points. 2 The Global Travel Trends Report from
American Express Travel found that 56% of global travelers surveyed
said that they miss traveling so much that they are willing to book
a trip now even if they might have to cancel it in the future.
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version on businesswire.com: https://www.businesswire.com/news/home/20211028005356/en/
MEDIA AMERICAN EXPRESS Ali Pearce ali.pearce@aexp.com
Margaret Manning Margaret.K.Manning@aexp.com
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