What will consumer spending look like this festive season?
Thursday, December 21
Kantar, the world’s leading data, insights, and consulting company, has revealed a study showcasing how consumers are going to spend money during the 2021 holiday season. Let’s see, consumer spendings look like this festive season.
The company explored consumer spending intentions across four categories for this holiday season. The categories include food and drinks, presents, travels, and home goods. Then they compared the data to previous seasons.
This research was conducted online among 8,001 people across eight global markets: the US, UK, France, Germany, India, Singapore, China, and Brazil. Respondents were sourced from Kantar Profiles’ Audience Network. All interviews were conducted as self-completion between 19th-28 October 2021.
Over the categories explored by Kantar, food and drink is the one that sees the biggest increase this festive season. 25% of citizens around the globe plan to spend more money on food and drinks this year’s holiday season. And around 17% claimed that they will decrease their spending on these goods in 2021.
The global picture looks like that:
The consumers interviewed across eight global markets say that they will spend less money to travel this holiday season. Almost 4 out of 10 people have intentions or plans for less spending around the holidays.
This time of year, many people around the world are feeling pressure from financial constraints to reduce their spending. Therefore, many people save on travel. Kantar reports that 69% of Chinese residents and 55% of Singaporeans are cutting their travel expenses this year. Citizens of Brazil (39%) and France (29%) also reported that they do not intend to travel during the winter holidays.
It is interesting to see that respondents with children would cut travel expenses more than single adults. 43% of families with children are not going to buy tickets for a trip on New Year’s holidays. The same intention is emphasized by 37% of families without children and 27% of single adults.
For more insights on consumer spending this holiday season, check out the complete community report conducted by Kantar.
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