As the holiday season approaches, marketers are already aiming to spot opportunities that will help them to get the most out of the gift giving spirit.
With the economy continuing to struggle, and as consumers maintain their interest in everything “social” and “green”, marketers are anticipating that they will be more innovative in the ways that they choose to give more but without spending as much money.
This year’s research, performed by the Collective, which conducted a survey on consumers in the upper income bracket showed that they intend to spend approximately half the amount that they did for their holiday shopping last year. More of the consumers in this demographic are hoping to be able to find gifts that will offer more value for the money that is spent.
Approximately one in four intend to make a charitable donation in the name of the gift recipient, or to purchase gifts where the proceeds will go toward a good cause. This trend indicates that consumers are taking more care to research what they buy.
The survey also suggested the following trends for the season:
• Greener designs – sustainable and more eco-friendly, organic, or fair trade products
• Buy one, give one – purchasing through programs where they purchase a product and the identical product will be gifted to someone in need
• Buying local – many consumers are buying products that are locally sourced to help the environment and support the local economy
• Home-made gifts – many consumers are using the internet for ideas to craft their own gifts, card, and wrapping decorations