Pitney Bowes Survey: Amid Supply Chain Warnings and Early Retail Promotions, 42% of US Consumers Have Started Holiday Shopping
October 21 2021 - 9:00AM
Business Wire
Majority of Gen X and Millennial Shoppers Plan
to Finish Online Shopping by Black Friday/Cyber Monday;
Procrastinators May Be Disappointed by Inventory
Consumers plan to do more than half of this
year’s holiday shopping online
Pitney Bowes (NYSE:PBI), a global shipping and mailing company
that provides technology, logistics, and financial services, today
released new results from its weekly BOXpoll® consumer survey,
indicating that US consumers are beginning to act on warnings of
retailers, shippers and supply chain managers to shop early for the
holidays and avoid being caught empty-handed when inventories of
coveted items run out.
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BOXPoll consumer survey holiday shopping
results (Graphic: Business Wire)
BOXpoll found that between mid-September and early October, the
number of respondents who started holiday shopping jumped from just
one-in-four to 42%. In total, Americans have checked off 14% of the
items on their holiday shopping lists.
Early holiday promotions from large retailers including Amazon,
Walmart and Target represent an effort to pull purchases forward
and spread the anticipated high demand for holiday gifts over a
longer period of time to ease pressure on the supply chain.
Consumers are starting to respond.
“While many of the largest retailers have announced holiday
promotions starting earlier than ever, large retailers are also in
the best position to address inventory and manufacturing supply
chain issues,” said Gregg Zegras, EVP and President, Global
Ecommerce at Pitney Bowes. “We are advising our mid-sized and
smaller ecommerce clients to pull demand earlier by communicating
with consumers more urgently and more often ahead of this holiday
season.”
Zegras said the industry would know in the coming weeks if the
proactive communications and early promotions are having the
desired impact, but so far, consumers appear to be receptive.
Pitney Bowes asked consumers how much of their holiday shopping
they’ve already finished—and when they expect to be done.
- Among the 42% of Americans who have started shopping for the
holidays, the average consumer has already completed more than a
third (38%) of their holiday purchases.
- In all, Americans have completed 14% of the holiday purchases
they plan to make.
- Sixty percent of respondents with children have started their
holiday shopping, and two-thirds (66%) of respondents with no
children have not started.
- Gen X and Millennials are the most likely to pull purchases
forward:
- 43% of Millennials plan to finish online shopping by the week
of Black Friday, and another 14% during the week of Cyber
Monday.
- 42% of Gen X plans to finish their online holiday shopping by
the week of Black Friday, and another 10% during the week of Cyber
Monday
- By comparison, only 36% of adults overall plan to finish their
online holiday shopping by the week of Black Friday
BOXpoll also found that, irrespective of when
consumers plan to start their holiday shopping, they plan to do
most of it (53%) online.
Methodology BOXpoll® by Pitney Bowes is a weekly consumer
survey on current events, culture and ecommerce logistics. Morning
Consult conducts weekly polls on behalf of Pitney Bowes among a
national sample of more than 2,000 online shoppers. The results
included in this press release are extracted from surveys conducted
over the past month. The interviews were conducted online, and the
data were weighted to approximate a target sample of adults based
on age, educational attainment, gender, race, and region. Results
from the full survey have a margin of error of +/- 2 percentage
points. Visit pitneybowes.com/boxpoll for the latest BOXpoll
findings.
About Pitney Bowes Pitney Bowes (NYSE:PBI) is a global
shipping and mailing company that provides technology, logistics,
and financial services to more than 90 percent of the Fortune 500.
Small business, retail, enterprise, and government clients around
the world rely on Pitney Bowes to remove the complexity of sending
mail and parcels. For additional information, visit Pitney Bowes at
www.pitneybowes.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20211021005310/en/
Brett Cody, Pitney Bowes, (203) 218 1187, brett.cody@pb.com
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