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2022 Deloitte holiday survey
Consumers make celebrating a priority
Despite economic concerns, consumers are finding ways to make the holidays festive this holiday shopping season. While they may be spending the same amount overall, how they are spending is changing. Non-gift purchases are taking a back seat as shoppers prioritize social experiences and buying gifts for others.
$1,455
Average retail spending in 2022
Low-income regaining holiday cheer
While every income group will likely have to deal with the effects of inflation, lower-income shoppers are regaining confidence and plan to spend more this year. They’re increasing their spend across all categories, returning to prepandemic shopping levels. In addition to a higher average spend, fewer low-income shoppers are sitting this season out: 13% in 2022 compared to 21% in 2021.
25%
Increase in low-income spending, from $536 in 2021 to $671 in 2022
Inflation shrinks the shopping window
With 73% expecting higher prices this holiday shopping season, consumers plan to pull back on the number of gifts purchased to stretch their finances and outsmart inflation. As a result, shoppers expect to visit fewer instore and online retailers, shrinking the shopping window to 5.8 weeks vs. 6.4 weeks in 2021.
9
Average number of gifts and gift cards likely to be purchased, vs. 16 in 2021
Shoppers off to an early start
After two years of dealing with rising prices, stockouts, and extended delivery times, shoppers are not taking any chances this holiday season. As a result, 38% plan to start their shopping earlier, pulling more of their budget into October and spending an average of $329 vs. $266 in 2021.
23%
of shoppers’ budgets will be spent by the end of October
Retail key findings
2022 Deloitte holiday retail survey
Consumers make celebrating a priority
Household finances may be at the weakest level in a decade, but spending stays steady as consumers cut non-essentials to give gifts and socialize.
Low-income regaining holiday cheer
After pulling back last year, low-income shoppers are feeling more confident and plan to spend 25% more this year.
Inflation shrinks the shopping window
Given the economic environment, consumers plan to buy fewer gifts, reducing the shopping duration to 5.8 weeks vs. 6.4 weeks.
Shoppers off to an early start
Inflation and stockout concerns prompt shoppers to get a jump on the holiday shopping season—23% of budgets will likely be spent by the end of October.
Black Friday-Cyber Monday trends
2022 Deloitte BFCM survey
80% of holiday consumers plan to shop BFCM events (versus 71% in 2021)
80% of holiday consumers plan to shop BFCM events (versus 71% in 2021)
With inflation top of mind, the hunt for bargains is on. Consumers are looking to retailers to serve up deals and plan to spend 50% of their holiday shopping budgets during Black Friday-Cyber Monday (BFCM). Read more to find out what else will impact this critical promotional period for retailers.
Download the Black Friday-Cyber Monday findings
Concerns about money and disruption curb travel
Holiday travel intent dips, especially for leisure trips involving paid lodging. The decline in travel intent is mostly attributable to fewer Americans taking leisure vacations, while the number planning to visit friends and relatives is similar to 2021. Financial considerations are this season’s biggest drag on travel demand, and one in five Americans staying home cite worries about travel disruption.
31%
Percentage of Americans who plan to travel this holiday season
From a busy start to a strong long-tail finish
Fifteen percent of all Americans plan to travel Thanksgiving weekend, and 14% plan to travel between Christmas and New Year’s. Thanksgiving will be the busiest time, but eight in 10 trips will be a week or shorter. And although only 10% of holiday trips are planned for early January, nearly half of those will be longer than a week.
2
Average number of trips Americans plan to take this holiday season
Demand dips across most travel products
With fewer Americans traveling, demand will be weaker across most travel segments, but hotels can expect a bigger hit than airlines. Thirty-five percent of travelers plan to stay in hotels (vs. 37% in 2021), while 15% plan to stay in rentals (vs. 17% in 2021). Participation in in-destination experiences is also expected to drop, with fewer travelers planning to partake across most paid activities this year.
35%
Percentage of Americans who plan to stay in hotels when they travel
Many older Americans will sit this one out … again
Older Americans, who had been showing more enthusiasm for travel after a prolonged pandemic-driven hesitance, are once again shying away. Only 22% of Americans age 55 and older plan to travel, down from 36% in 2021. Financial worries are the top travel deterrent across age groups, but the oldest are most likely to cite potential delays and cancellations as a reason to stay home.
22%
Percentage of Americans 55 and older who plan to travel
Travel key findings
2022 Deloitte holiday travel survey
Concerns about money and disruption curb travel
Financial considerations are this season’s biggest drag on travel demand, and one in five Americans staying home cite worries about travel disruption.
From a busy start to a strong long-tail finish
Once again, the busiest days will likely come at the start of the holiday travel season, as 15% of Americans plan to travel Thanksgiving weekend.
Demand dips across most travel products
With fewer Americans traveling, demand will be weaker across most travel segments, but hotels can expect a bigger hit than airlines.
Many older Americans will sit this one out … again
Older Americans are more likely to cite potential travel disruption and health as reasons to avoid travel.
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Meet the contributors to the Deloitte Consumer Insights 2022. For more insights, visit the Consumer Industry Center and read more on the automotive, consumer products, retail, transportation, hospitality, and services sectors.
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