||Consumers Plan a Steady Budget Equal to 2011, According to Survey
More than 51 percent of consumers plan to spend the same amount of money in 2012 as in the previous year, according to a 2012 Shopping Outlook survey conducted by PriceGrabber, a part of Experian.
While more than half of the survey respondents plan to spend the same amount of money as they did last year, 21 percent indicated they plan to spend more, and 28 percent plan to spend less. Conducted from Jan. 26 to Feb. 13, 2012, the survey includes responses from 933 U.S. online shopping consumers.
Reasons to spend this year
When those who plan to spend more were asked to select all of the reasons why, 36 percent cited confidence in the economy, and another 36 percent said that they expect retailers to offer better discounts this year.
Thirty percent indicated that they are earning more money in 2012, 6 percent said that they are tired of being frugal, 5 percent cited a credit limit increase, and another 5 percent have found employment in the past year.
When the respondents who plan to spend less this year were asked to select all of the reasons why, 40 percent cited increases in prices such as gas, food and necessities; 34 percent said lack of confidence in the economy. Twenty-nine percent indicated they were making less money this year, and 16 percent said they overspent during the 2011 holiday season.
"Our data shows that shoppers plan to remain optimistically cautious with their spending again this year and expect retailers to continue to offer deals and incentives on products," said Graham Jones, general manager of PriceGrabber. "We expect retailers will continue to roll out a number of tactics, such as free shipping, larger discounts and online-only promotions to help win the consumer dollar this year, while implementing strategies that will span brick-and-mortar, online and mobile shopping platforms to entice consumers to shop."
Electronics, clothing top shopping lists
When consumers were asked to select all of the items and activities on which they plan to spend more in 2012, more than half said consumer electronics and clothing, followed closely by travel and vacations, household supplies and dining out.
Twenty-nine percent said they will spend more on furniture, books or DVDs, followed by jewelry, toys, events, sporting goods and fitness memberships.
Daily deal sites still popular
The daily deal industry looks like it will remain strong in 2012. Forty-six percent of the PriceGrabber survey respondents indicated that they plan to use daily deal sites, such as Groupon, Living Social or PriceGrabber's local deals category, more often in 2012 than in 2011.
When consumers who plan to use these sites more frequently were asked to select all of the categories they will search the most, 53 percent said food and dining, 46 percent said shopping, 42 percent said entertainment and events, and 34 percent said family and kids.
Online, brick-and-mortar and mobile shopping
When asked how they plan to shop in 2012, 45 percent of PriceGrabber survey respondents said they will combine online, brick-and-mortar and mobile shopping. Forty-two percent said they will shop mostly online, 12 percent will shop mostly in brick-and-mortar stores, and 1 percent will shop primarily from a mobile device.
According to the survey, the average shopper will make 53 percent of his or her overall purchases online, 42 percent from brick-and-mortar stores and 5 percent from a mobile phone.
(Source: PriceGrabber, 02/28/12)
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