More Than 70% of Consumers Think the Economy Is in “Bad” or “Terrible” Shape and Nearly 1 in 4 Feel It Will Be Difficult to Purchase Things They Need
Over the Next Several Months
Only 3% think the economy is in “good shape,” as reported by a survey conducted by RetailMeNot and Ipsos Public Affairs
Austin, TX, August, 23, 2012 — RetailMeNot.com (www.retailmenot.com), the largest online coupon site in the United States, released the results of a survey reviewing shopping attitudes and behaviors as we approach the holidays and overall consumer sentiment as it relates the economy. The results revealed that more than 7 in 10 consumers (71%) have a dismal view of the economy, and 1 in 4 are worried about being able to make all the necessary purchases in the coming months. Only 3% of consumer respondents felt that the economy is in “good shape.”
“Our most recent survey looked at how consumers plan to shop for the remainder of the year. We believe a lackluster economy combined with high demand for discounts while shopping will lead to more frequent and higher first-time use of coupons over time. As RetailMeNot works to make finding coupons even easier for consumers, we believe that compelling merchant deals or offers that drive sales will take center stage this holiday season,” said Kristen Remeza, editor-in-chief of RetailMeNot Insider. “As shopping for the holidays—in-store and online—begins to gain steam, there are two other findings of note we wanted to share with our retail partners: First, 59% of consumers still prefer to conduct their holiday shopping in-store vs. online (31%). Second, 39% of consumers start their holiday shopping before November.”
The results of the survey found these shopping behaviors for the upcoming “holiday” shopping period:
· - 39% of respondents start their holiday shopping before November.
o Women (46%) are more likely than men (31%) to start their shopping earlier than November.
· - 23% of respondents start shopping in early November, 12% wait to start shopping until Black Friday/Cyber Monday and only15% wait until after Cyber Monday to begin shopping.
· - 54% of respondents finish their holiday shopping sometime between Black Friday and when they actually give away the gift during the holidays.
o Nearly 1 in 3 respondents (32%) say they are done with their holiday shopping by the end of Cyber Monday.
o Women (58%) are more likely than men (50%) to say they tend to finish their holiday shopping after Cyber Monday.
· - 59% of consumers still prefer to do their holiday shopping in-store vs. online (31%).
These are some of the findings of an Ipsos poll conducted August 16–20, 2012. For the survey, a national sample of 1,005 adults aged 18 and older from Ipsos’ U.S. online panel were interviewed online. Weighting was then employed to balance demographics and ensure that the sample's composition reflects that of the U.S. adult population according to Census data and to provide results intended to approximate the sample universe. A survey with an unweighted probability sample of 1,005 and a 100% response rate would have an estimated margin of error of +/- 3.1 percentage points. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.