Holiday Shoppers Aim to Save

Shoppers are practicing creative budgeting tactics this holiday season, according to data compiled by WSL/Strategic Retail. A new survey from the company, Holiday Season 2011 Pulse of Shopping Life, also reveals that while shoppers are learning to shop smart for the holidays, a majority are still making self-purchases and using their holiday shopping savings to reward themselves.

“A tough economy has suppressed shoppers’ holiday spending plans this season,” said Wendy Liebmann, CEO of WSL/Strategic Retail. “In an effort to recession proof their gift lists, shoppers are using up rewards points and gift cards, purchasing a little each week, and resisting the temptation of stores where they tend to overspend.”

Significant findings of the report include:

Resisting temptation: To manage holiday spending this year, shoppers are resisting the usual temptations, with 35% avoiding stores where they are tempted to overspend, while 23% stick to buying affordable brands, and 18% are making fewer trips to stay out of the stores.

Finding new Internet inroads: The Internet is making different kinds of inroads with holiday gift givers bidding for items on eBay or other online auction sites (10%), using smartphones to help them shop (8%), buying deals on discount sites like LivingSocial or Groupon (7%), or checking for deals on their social networks or mobile device (5%).

Using up rewards points: The power of rewards points is stunning, as nearly 30% are using them to buy gifts this season.

Tracking spending with gift cards: Shoppers (30%) are purchasing gift cards as a way to limit how much they spend on a gift.

Paying-as-they-go: Shoppers (30%) are also practicing a pay-as-you-go method, buying a little each week before December 25th.

A tough economy has suppressed holiday shoppers’ spending mindsets this season. Yet, after a long year of being a smart/frugal shopper and practicing creative budgeting tactics to ensure smiles on their giftees’ faces, they are even treating themselves with a few gifts.

Self-Gifting: While shopping for others this holiday season, 66% plan to buy something for themselves.

For women, the top categories for self purchases include clothing (44%), beauty (25%), books (paper or digital) (23%), and electronics (18%). For men, the top categories for self purchases include electronics (34%), clothing (27%), alcoholic beverages (23%) and paper or digital books (17%).